Gentex (NASDAQ:GNTX) CEO Sells $866,250.00 in Stock

Gentex Corporation (NASDAQ:GNTX) CEO Steven Downing sold 35,000 shares of Gentex stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $24.75, for a total transaction of $866,250.00. Following the completion of the transaction, the chief executive officer directly owned 211,670 shares in the company, valued at approximately $5,238,832.50. This represents a 14.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Gentex Price Performance

Shares of GNTX stock opened at $23.97 on Friday. The firm has a market cap of $5.25 billion, a PE ratio of 13.78 and a beta of 0.78. Gentex Corporation has a 12 month low of $20.28 and a 12 month high of $29.38. The stock has a 50 day moving average of $23.92 and a 200-day moving average of $25.17.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, January 30th. The auto parts company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The company had revenue of $644.40 million for the quarter, compared to analyst estimates of $650.90 million. Gentex had a return on equity of 16.05% and a net margin of 15.19%.Gentex’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.39 EPS. As a group, equities analysts predict that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 21st. Stockholders of record on Wednesday, January 7th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, January 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.0%. Gentex’s dividend payout ratio is presently 27.59%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GNTX shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gentex in a report on Thursday, January 22nd. Robert W. Baird set a $26.00 target price on shares of Gentex in a research note on Wednesday, January 14th. B. Riley Financial decreased their price target on shares of Gentex from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. The Goldman Sachs Group set a $27.00 price target on shares of Gentex and gave the company a “neutral” rating in a report on Monday, October 27th. Finally, UBS Group set a $25.00 price objective on shares of Gentex in a research report on Monday, February 2nd. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $26.71.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GNTX. Nordea Investment Management AB bought a new position in shares of Gentex during the 3rd quarter worth approximately $6,422,000. Deprince Race & Zollo Inc. acquired a new stake in Gentex in the 3rd quarter valued at $26,283,000. Cidel Asset Management Inc. lifted its position in Gentex by 13.7% during the 3rd quarter. Cidel Asset Management Inc. now owns 450,780 shares of the auto parts company’s stock worth $12,757,000 after buying an additional 54,328 shares in the last quarter. Global Alpha Capital Management Ltd. bought a new stake in Gentex during the 2nd quarter worth about $19,318,000. Finally, Jump Financial LLC boosted its stake in shares of Gentex by 37.3% during the 2nd quarter. Jump Financial LLC now owns 224,065 shares of the auto parts company’s stock worth $4,927,000 after buying an additional 60,827 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Company Profile

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).