Renaissance Technologies LLC Sells 166,200 Shares of Gentex Co. (NASDAQ:GNTX)

Renaissance Technologies LLC lowered its holdings in Gentex Co. (NASDAQ:GNTX) by 27.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 431,596 shares of the auto parts company’s stock after selling 166,200 shares during the period. Renaissance Technologies LLC owned approximately 0.19% of Gentex worth $14,549,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in shares of Gentex by 129.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 111,827 shares of the auto parts company’s stock valued at $3,652,000 after purchasing an additional 63,152 shares during the period. TD Asset Management Inc raised its position in shares of Gentex by 58.1% in the fourth quarter. TD Asset Management Inc now owns 3,313,757 shares of the auto parts company’s stock valued at $108,227,000 after purchasing an additional 1,217,278 shares during the period. Thematics Asset Management raised its position in shares of Gentex by 51.2% in the fourth quarter. Thematics Asset Management now owns 523,207 shares of the auto parts company’s stock valued at $17,088,000 after purchasing an additional 177,207 shares during the period. Vanguard Group Inc. raised its position in shares of Gentex by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 22,280,716 shares of the auto parts company’s stock valued at $727,688,000 after purchasing an additional 163,373 shares during the period. Finally, Cetera Investment Advisers raised its position in shares of Gentex by 91.0% in the first quarter. Cetera Investment Advisers now owns 127,876 shares of the auto parts company’s stock valued at $4,619,000 after purchasing an additional 60,934 shares during the period. Institutional investors own 86.76% of the company’s stock.

Insider Activity

In other Gentex news, major shareholder Corp Gentex acquired 3,152,500 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $5.00 per share, with a total value of $15,762,500.00. Following the purchase, the insider now owns 6,463,808 shares of the company’s stock, valued at $32,319,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.41% of the stock is owned by corporate insiders.

Gentex Price Performance

GNTX stock opened at $29.75 on Friday. Gentex Co. has a one year low of $27.86 and a one year high of $37.58. The stock has a market cap of $6.88 billion, a PE ratio of 15.74, a P/E/G ratio of 0.96 and a beta of 0.92. The firm has a 50 day simple moving average of $30.66 and a two-hundred day simple moving average of $33.33.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, July 26th. The auto parts company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.15). Gentex had a return on equity of 17.78% and a net margin of 17.87%. The company had revenue of $572.93 million during the quarter, compared to analysts’ expectations of $623.28 million. On average, research analysts expect that Gentex Co. will post 1.96 EPS for the current fiscal year.

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.61%. Gentex’s dividend payout ratio (DPR) is 25.40%.

Analysts Set New Price Targets

Several equities analysts recently commented on GNTX shares. B. Riley reduced their price objective on shares of Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Monday, July 29th. JPMorgan Chase & Co. reduced their price objective on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. UBS Group started coverage on shares of Gentex in a research note on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price objective for the company. BNP Paribas cut shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research note on Tuesday, July 30th. Finally, Robert W. Baird reduced their price objective on shares of Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Gentex currently has an average rating of “Hold” and an average target price of $36.86.

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.