Gentex Co. (NASDAQ:GNTX) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. lowered its position in shares of Gentex Co. (NASDAQ:GNTX) by 40.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,296 shares of the auto parts company’s stock after selling 15,188 shares during the period. Edgestream Partners L.P.’s holdings in Gentex were worth $805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in GNTX. Neo Ivy Capital Management acquired a new stake in Gentex during the fourth quarter worth $29,000. National Bank of Canada FI increased its position in shares of Gentex by 159.1% during the 4th quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock worth $30,000 after purchasing an additional 571 shares during the last quarter. GAMMA Investing LLC purchased a new stake in Gentex in the 4th quarter valued at about $46,000. Global Retirement Partners LLC raised its stake in shares of Gentex by 371.3% in the 4th quarter. Global Retirement Partners LLC now owns 2,738 shares of the auto parts company’s stock valued at $89,000 after acquiring an additional 2,157 shares during the period. Finally, Natixis Investment Managers International lifted its holdings in shares of Gentex by 34.0% in the 4th quarter. Natixis Investment Managers International now owns 3,395 shares of the auto parts company’s stock worth $111,000 after acquiring an additional 861 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Insider Buying and Selling

In related news, Director Joseph B. Anderson, Jr. sold 4,716 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $34.46, for a total transaction of $162,513.36. Following the transaction, the director now owns 3,764 shares in the company, valued at approximately $129,707.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.41% of the stock is owned by company insiders.

Gentex Stock Down 0.3 %

NASDAQ GNTX traded down $0.11 during trading hours on Wednesday, hitting $33.12. 191,237 shares of the company were exchanged, compared to its average volume of 1,365,814. The firm has a market cap of $7.66 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 0.93 and a beta of 0.93. The company has a 50 day moving average of $34.13 and a two-hundred day moving average of $34.55. Gentex Co. has a 52-week low of $27.86 and a 52-week high of $37.58.

Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, April 26th. The auto parts company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). Gentex had a net margin of 18.77% and a return on equity of 19.19%. The firm had revenue of $590.23 million during the quarter, compared to analyst estimates of $600.38 million. During the same period last year, the business earned $0.42 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts predict that Gentex Co. will post 2.11 EPS for the current year.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 17th. Shareholders of record on Friday, July 5th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Friday, July 5th. Gentex’s dividend payout ratio (DPR) is 25.40%.

Analysts Set New Price Targets

A number of research analysts have commented on GNTX shares. JPMorgan Chase & Co. decreased their price target on Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday. StockNews.com cut Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. Robert W. Baird dropped their target price on Gentex from $41.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, July 12th. Finally, Guggenheim increased their price target on shares of Gentex from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

Gentex Profile

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.