Algert Global LLC Sells 94,522 Shares of Gentex Co. (NASDAQ:GNTX)

Algert Global LLC cut its holdings in Gentex Co. (NASDAQ:GNTX) by 80.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,306 shares of the auto parts company’s stock after selling 94,522 shares during the quarter. Algert Global LLC’s holdings in Gentex were worth $786,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Gentex by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 22,280,716 shares of the auto parts company’s stock worth $727,688,000 after acquiring an additional 163,373 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Gentex by 27.9% during the fourth quarter. Wellington Management Group LLP now owns 8,728,378 shares of the auto parts company’s stock valued at $285,069,000 after buying an additional 1,905,356 shares during the period. Boston Partners raised its holdings in shares of Gentex by 4.2% in the 1st quarter. Boston Partners now owns 5,706,411 shares of the auto parts company’s stock valued at $206,095,000 after purchasing an additional 230,873 shares in the last quarter. TD Asset Management Inc raised its stake in Gentex by 41.2% in the first quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock worth $168,957,000 after buying an additional 1,363,898 shares in the last quarter. Finally, Burgundy Asset Management Ltd. lifted its stake in shares of Gentex by 3.0% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,343,880 shares of the auto parts company’s stock worth $146,432,000 after purchasing an additional 126,416 shares during the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on GNTX shares. JPMorgan Chase & Co. lowered their target price 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. StockNews.com lowered Gentex from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. Robert W. Baird decreased their target price 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. The Goldman Sachs Group reduced their price target on Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Finally, UBS Group assumed coverage on shares of Gentex in a report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $36.29.

Insider Activity at Gentex

In related news, major shareholder Corp Gentex acquired 3,152,500 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $5.00 per share, with a total value of $15,762,500.00. Following the completion of the acquisition, the insider now owns 6,463,808 shares in the company, valued at $32,319,040. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.41% of the stock is currently owned by corporate insiders.

Gentex Stock Down 0.5 %

Shares of GNTX opened at $29.00 on Friday. Gentex Co. has a 52-week low of $27.86 and a 52-week high of $37.58. The stock has a fifty day simple moving average of $29.96 and a two-hundred day simple moving average of $32.89. The company has a market capitalization of $6.70 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 0.99 and a beta of 0.92.

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

Gentex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be issued 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 1.66%. Gentex’s payout ratio is 25.40%.

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.