Gentex Co. (NASDAQ:GNTX) Director Sells $120,000.00 in Stock

Gentex Co. (NASDAQ:GNTX) Director John A. Mulder sold 5,000 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $24.00, for a total transaction of $120,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link.

Shares of Gentex stock traded down $0.40 during trading on Monday, hitting $27.66. The stock had a trading volume of 407,641 shares, compared to its average volume of 1,461,803. The firm’s fifty day simple moving average is $26.91 and its 200-day simple moving average is $23.55. The stock has a market cap of $7.15 billion, a PE ratio of 17.07, a PEG ratio of 3.34 and a beta of 1.24. Gentex Co. has a 12 month low of $17.80 and a 12 month high of $28.43.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, July 19th. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The firm had revenue of $468.71 million during the quarter, compared to analyst estimates of $462.65 million. Gentex had a net margin of 23.28% and a return on equity of 23.08%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $0.40 EPS. Analysts forecast that Gentex Co. will post 1.68 earnings per share for the current year.



The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be issued a $0.115 dividend. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $0.46 annualized dividend and a dividend yield of 1.66%. Gentex’s dividend payout ratio (DPR) is presently 28.40%.

Several equities analysts have commented on the stock. Longbow Research reiterated a “hold” rating on shares of Gentex in a research report on Sunday, July 7th. B. Riley set a $29.00 target price on shares of Gentex and gave the stock a “buy” rating in a report on Friday, July 19th. Zacks Investment Research upgraded shares of Gentex from a “sell” rating to a “hold” rating and set a $28.00 target price for the company in a report on Tuesday, July 23rd. ValuEngine lowered shares of Gentex from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, BidaskClub upgraded shares of Gentex from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Gentex currently has an average rating of “Hold” and an average price target of $23.66.

A number of hedge funds have recently bought and sold shares of GNTX. Geode Capital Management LLC increased its stake in Gentex by 8.3% in the 4th quarter. Geode Capital Management LLC now owns 3,950,871 shares of the auto parts company’s stock worth $79,846,000 after buying an additional 303,378 shares during the period. Cornerstone Advisors Inc. purchased a new position in Gentex in the 1st quarter worth about $49,000. CIBC Asset Management Inc increased its stake in Gentex by 10.9% in the 1st quarter. CIBC Asset Management Inc now owns 13,975 shares of the auto parts company’s stock worth $289,000 after buying an additional 1,374 shares during the period. Raymond James & Associates increased its stake in Gentex by 49.7% in the 1st quarter. Raymond James & Associates now owns 277,138 shares of the auto parts company’s stock worth $5,731,000 after buying an additional 92,042 shares during the period. Finally, Mason Street Advisors LLC increased its stake in Gentex by 0.4% in the 1st quarter. Mason Street Advisors LLC now owns 137,852 shares of the auto parts company’s stock worth $2,851,000 after buying an additional 555 shares during the period. 80.96% of the stock is currently owned by institutional investors.

About Gentex

Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It designs, develops, manufactures, and markets 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, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.

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