Shell Asset Management Co. Cuts Stock Position in Gentex Co. (NASDAQ:GNTX)

Shell Asset Management Co. decreased its holdings in shares of Gentex Co. (NASDAQ:GNTXFree Report) by 12.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 19,671 shares of the auto parts company’s stock after selling 2,797 shares during the period. Shell Asset Management Co.’s holdings in Gentex were worth $640,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Belpointe Asset Management LLC lifted its holdings in Gentex by 414.3% in the first quarter. Belpointe Asset Management LLC now owns 900 shares of the auto parts company’s stock valued at $25,000 after acquiring an additional 725 shares during the period. Covestor Ltd lifted its holdings in Gentex by 79.2% in the first quarter. Covestor Ltd now owns 1,887 shares of the auto parts company’s stock valued at $55,000 after acquiring an additional 834 shares during the period. Quent Capital LLC lifted its holdings in Gentex by 209.0% in the third quarter. Quent Capital LLC now owns 1,749 shares of the auto parts company’s stock valued at $57,000 after acquiring an additional 1,183 shares during the period. Steward Partners Investment Advisory LLC raised its stake in shares of Gentex by 31.7% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 2,774 shares of the auto parts company’s stock worth $78,000 after buying an additional 667 shares during the period. Finally, ICA Group Wealth Management LLC acquired a new position in shares of Gentex during the 4th quarter worth approximately $93,000. 84.60% of the stock is owned by institutional investors and hedge funds.

Gentex Stock Performance

NASDAQ GNTX opened at $35.32 on Friday. The business has a fifty day moving average price of $32.45 and a 200 day moving average price of $31.87. Gentex Co. has a one year low of $25.77 and a one year high of $35.35. The company has a market cap of $8.24 billion, a P/E ratio of 19.20, a P/E/G ratio of 0.94 and a beta of 0.97.

Gentex (NASDAQ:GNTXGet Free Report) last posted its quarterly earnings data on Friday, January 26th. The auto parts company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.44 by $0.06. Gentex had a return on equity of 19.25% and a net margin of 18.63%. The firm had revenue of $589.13 million during the quarter, compared to the consensus estimate of $563.42 million. During the same period in the prior year, the company earned $0.37 EPS. The firm’s revenue was up 19.3% compared to the same quarter last year. As a group, sell-side analysts predict that Gentex Co. will post 2.17 EPS for the current fiscal year.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 17th. Investors of record on Friday, January 5th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Thursday, January 4th. Gentex’s dividend payout ratio is currently 26.09%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GNTX shares. JPMorgan Chase & Co. upped their target price on Gentex from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. StockNews.com downgraded Gentex from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. The Goldman Sachs Group upped their target price on Gentex from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Finally, B. Riley upped their target price on Gentex from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $36.80.

Get Our Latest Stock Analysis on Gentex

Insider Buying and Selling at Gentex

In other Gentex news, Director Richard O. Schaum sold 6,022 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $33.93, for a total value of $204,326.46. Following the completion of the sale, the director now directly owns 62,555 shares in the company, valued at approximately $2,122,491.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.16% of the stock is owned by company insiders.

About Gentex

(Free Report)

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

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Institutional Ownership by Quarter for Gentex (NASDAQ:GNTX)

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