Gentex Co. (NASDAQ:GNTX) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp cut its stake in Gentex Co. (NASDAQ:GNTXGet Rating) by 11.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,095 shares of the auto parts company’s stock after selling 2,157 shares during the period. Fifth Third Bancorp’s holdings in Gentex were worth $384,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in GNTX. Wagner Wealth Management LLC acquired a new stake in shares of Gentex during the second quarter worth $28,000. National Bank of Canada FI raised its holdings in shares of Gentex by 63.1% during the second quarter. National Bank of Canada FI now owns 1,523 shares of the auto parts company’s stock worth $42,000 after purchasing an additional 589 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of Gentex by 77.8% during the second quarter. First Horizon Advisors Inc. now owns 1,961 shares of the auto parts company’s stock worth $54,000 after purchasing an additional 858 shares during the period. Covestor Ltd raised its holdings in shares of Gentex by 79.2% during the first quarter. Covestor Ltd now owns 1,887 shares of the auto parts company’s stock worth $55,000 after purchasing an additional 834 shares during the period. Finally, Wahed Invest LLC acquired a new stake in shares of Gentex during the second quarter worth $64,000. 83.80% of the stock is owned by institutional investors and hedge funds.

Gentex Stock Performance

Gentex stock opened at $28.09 on Wednesday. The company has a 50-day simple moving average of $27.74 and a 200-day simple moving average of $27.17. The firm has a market capitalization of $6.59 billion, a P/E ratio of 20.96, a P/E/G ratio of 0.96 and a beta of 0.93. Gentex Co. has a one year low of $23.28 and a one year high of $35.72.

Gentex (NASDAQ:GNTXGet Rating) last announced its earnings results on Friday, October 28th. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.08). The company had revenue of $493.64 million during the quarter, compared to the consensus estimate of $494.82 million. Gentex had a net margin of 17.17% and a return on equity of 16.06%. The business’s quarterly revenue was up 23.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. As a group, sell-side analysts forecast that Gentex Co. will post 1.38 earnings per share for the current year.

Gentex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 18th. Investors of record on Friday, January 6th will be given a $0.12 dividend. The ex-dividend date is Thursday, January 5th. This represents a $0.48 dividend on an annualized basis and a yield of 1.71%. Gentex’s dividend payout ratio is presently 35.82%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Gentex in a report on Wednesday, October 12th. They set a “hold” rating on the stock. The Goldman Sachs Group upgraded shares of Gentex from a “sell” rating to a “neutral” rating and upped their price target for the stock from $24.00 to $26.00 in a research report on Wednesday, December 14th. Finally, Guggenheim lowered their price target on shares of Gentex to $29.00 in a research report on Thursday, October 27th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.80.

Insider Buying and Selling at Gentex

In other Gentex news, Director James H. Wallace sold 14,000 shares of the company’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $26.04, for a total transaction of $364,560.00. Following the completion of the sale, the director now directly owns 14,709 shares of the company’s stock, valued at $383,022.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Gentex news, Director James H. Wallace sold 14,000 shares of the company’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $26.04, for a total transaction of $364,560.00. Following the completion of the sale, the director now directly owns 14,709 shares of the company’s stock, valued at $383,022.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Steven R. Downing acquired 10,000 shares of Gentex stock in a transaction on Monday, October 31st. The shares were purchased at an average cost of $25.74 per share, with a total value of $257,400.00. Following the completion of the purchase, the chief executive officer now directly owns 118,506 shares of the company’s stock, valued at approximately $3,050,344.44. The disclosure for this purchase can be found here. 0.16% of the stock is owned by corporate insiders.

About Gentex

(Get Rating)

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, 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.

See Also

Want to see what other hedge funds are holding GNTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gentex Co. (NASDAQ:GNTXGet Rating).

Institutional Ownership by Quarter for Gentex (NASDAQ:GNTX)

Receive News & Ratings for Gentex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gentex and related companies with MarketBeat.com's FREE daily email newsletter.