Citigroup Inc. Sells 48,589 Shares of Gentex Co. (NASDAQ:GNTX)

Citigroup Inc. reduced its position in shares of Gentex Co. (NASDAQ:GNTX – Get Rating) by 34.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 91,086 shares of the auto parts company’s stock after selling 48,589 shares during the quarter. Citigroup Inc.’s holdings in Gentex were worth $2,484,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Allworth Financial LP lifted its position in Gentex by 3,112.9% during the fourth quarter. Allworth Financial LP now owns 996 shares of the auto parts company’s stock valued at $27,000 after purchasing an additional 965 shares during the last quarter. Eagle Bay Advisors LLC lifted its holdings in shares of Gentex by 2,065.5% in the 3rd quarter. Eagle Bay Advisors LLC now owns 1,191 shares of the auto parts company’s stock valued at $28,000 after acquiring an additional 1,136 shares during the last quarter. Covestor Ltd grew its position in Gentex by 79.2% in the first quarter. Covestor Ltd now owns 1,887 shares of the auto parts company’s stock worth $55,000 after acquiring an additional 834 shares in the last quarter. Lindbrook Capital LLC increased its stake in Gentex by 51.3% during the fourth quarter. Lindbrook Capital LLC now owns 2,454 shares of the auto parts company’s stock worth $67,000 after acquiring an additional 832 shares during the last quarter. Finally, Hollencrest Capital Management purchased a new stake in Gentex during the fourth quarter valued at approximately $84,000. Institutional investors own 83.80% of the company’s stock.

Gentex Stock Performance

Shares of NASDAQ GNTX opened at $27.10 on Wednesday. Gentex Co. has a fifty-two week low of $23.28 and a fifty-two week high of $31.48. The company has a market cap of $6.33 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 0.81 and a beta of 0.92. The business’s 50 day moving average price is $27.35 and its 200-day moving average price is $27.89.

Gentex (NASDAQ:GNTX – Get Rating) last announced its quarterly earnings data on Friday, April 28th. The auto parts company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.38 by $0.04. Gentex had a return on equity of 16.02% and a net margin of 16.43%. The company had revenue of $550.76 million for the quarter, compared to the consensus estimate of $529.59 million. During the same quarter in the prior year, the company posted $0.37 EPS. Gentex’s quarterly revenue was up 17.6% on a year-over-year basis. Sell-side analysts predict that Gentex Co. will post 1.66 earnings per share for the current year.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 19th. Investors of record on Friday, April 7th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, April 5th. This represents a $0.48 dividend on an annualized basis and a yield of 1.77%. Gentex’s payout ratio is 34.04%.

Insider Buying and Selling at Gentex

In other news, Director Richard O. Schaum sold 5,424 shares of Gentex stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $27.89, for a total transaction of $151,275.36. Following the completion of the sale, the director now owns 49,861 shares of the company’s stock, valued at $1,390,623.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CTO Neil Boehm sold 1,242 shares of Gentex stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $28.41, for a total transaction of $35,285.22. Following the completion of the sale, the chief technology officer now owns 36,176 shares of the company’s stock, valued at $1,027,760.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard O. Schaum sold 5,424 shares of Gentex stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $27.89, for a total transaction of $151,275.36. Following the sale, the director now directly owns 49,861 shares of the company’s stock, valued at approximately $1,390,623.29. The disclosure for this sale can be found here. Insiders sold a total of 11,082 shares of company stock valued at $311,401 in the last three months. Company insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on GNTX. TheStreet upgraded Gentex from a “c+” rating to a “b” rating in a report on Friday, January 27th. StockNews.com began coverage on shares of Gentex in a research note on Thursday, May 18th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Gentex has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Gentex Company Profile

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Gentex Corp. is a technology company, which engages in the design, development, and manufacture and supply of digital vision, connected car, dimmable glass, and fire protection products. It operates through the Automotive Products and Other segments. The Automotive Products segment operates in virtually all the foregoing facilities.