Inspire Investing LLC Sells 11,592 Shares of Gentex Co. (NASDAQ:GNTX)

Inspire Investing LLC trimmed its stake in shares of Gentex Co. (NASDAQ:GNTX) by 14.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,820 shares of the auto parts company’s stock after selling 11,592 shares during the quarter. Inspire Investing LLC’s holdings in Gentex were worth $2,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in GNTX. Financial Advocates Investment Management grew its position in shares of Gentex by 22.2% in the 4th quarter. Financial Advocates Investment Management now owns 7,900 shares of the auto parts company’s stock worth $258,000 after buying an additional 1,436 shares during the last quarter. Norges Bank bought a new stake in shares of Gentex in the 4th quarter worth approximately $89,843,000. PNC Financial Services Group Inc. grew its position in shares of Gentex by 129.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 111,827 shares of the auto parts company’s stock worth $3,652,000 after buying an additional 63,152 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Gentex by 8.3% in the 4th quarter. Wells Fargo & Company MN now owns 276,399 shares of the auto parts company’s stock worth $9,027,000 after buying an additional 21,148 shares during the last quarter. Finally, D.A. Davidson & CO. grew its position in shares of Gentex by 4.2% in the 4th quarter. D.A. Davidson & CO. now owns 21,131 shares of the auto parts company’s stock worth $690,000 after buying an additional 859 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors.

Insider Transactions at Gentex

In other Gentex news, major shareholder Corp Gentex purchased 3,152,500 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was purchased at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the completion of the purchase, the insider now directly owns 6,463,808 shares of the company’s stock, valued at $32,319,040. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.41% of the company’s stock.

Gentex Trading Down 0.7 %

Shares of NASDAQ:GNTX opened at $29.29 on Thursday. The stock has a fifty day simple moving average of $30.83 and a two-hundred day simple moving average of $33.43. The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 0.96 and a beta of 0.92. Gentex Co. has a 12-month low of $27.86 and a 12-month high of $37.58.

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

Gentex Dividend Announcement

The firm also recently declared 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. This represents a $0.48 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Wednesday, October 9th. Gentex’s dividend payout ratio is currently 25.40%.

Analyst Upgrades and Downgrades

GNTX has been the topic of a number of recent analyst reports. B. Riley cut their price objective on Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Monday, July 29th. BNP Paribas cut Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 target price for the company. in a research note on Tuesday, July 30th. UBS Group assumed coverage on Gentex in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 target price for the company. Robert W. Baird lowered their target price on Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. lowered their target price on Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $36.86.

About Gentex

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.