Gentex Co. (NASDAQ:GNTX) Stock Position Decreased by SVB Wealth LLC

SVB Wealth LLC lowered its position in Gentex Co. (NASDAQ:GNTX) by 16.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,714 shares of the auto parts company’s stock after selling 3,305 shares during the period. SVB Wealth LLC’s holdings in Gentex were worth $546,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Synovus Financial Corp increased its position in Gentex by 1.7% during the third quarter. Synovus Financial Corp now owns 20,068 shares of the auto parts company’s stock worth $653,000 after buying an additional 333 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Gentex by 0.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 50,311 shares of the auto parts company’s stock valued at $1,643,000 after acquiring an additional 336 shares in the last quarter. Wahed Invest LLC lifted its holdings in Gentex by 12.1% in the 2nd quarter. Wahed Invest LLC now owns 3,401 shares of the auto parts company’s stock worth $100,000 after purchasing an additional 368 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in Gentex by 0.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 72,087 shares of the auto parts company’s stock worth $1,718,000 after purchasing an additional 380 shares during the last quarter. Finally, Blair William & Co. IL lifted its holdings in Gentex by 5.2% in the 1st quarter. Blair William & Co. IL now owns 8,095 shares of the auto parts company’s stock worth $227,000 after purchasing an additional 400 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.

Insider Activity

In other news, CFO Kevin C. Nash sold 13,500 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total value of $446,040.00. Following the completion of the transaction, the chief financial officer now owns 44,321 shares in the company, valued at approximately $1,464,365.84. The sale was disclosed in a filing with the SEC, which is available at this link. In other Gentex news, Director Richard O. Schaum sold 6,022 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $33.93, for a total transaction of $204,326.46. Following the completion of the transaction, the director now directly owns 62,555 shares in the company, valued at $2,122,491.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin C. Nash sold 13,500 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total value of $446,040.00. Following the transaction, the chief financial officer now owns 44,321 shares of the company’s stock, valued at $1,464,365.84. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GNTX shares. B. Riley boosted their target price on Gentex from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. The Goldman Sachs Group boosted their price objective on Gentex from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Guggenheim boosted their price objective on Gentex from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on Gentex from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Finally, StockNews.com raised Gentex from a “hold” rating to a “buy” rating in a research report on Friday, February 23rd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Gentex presently has an average rating of “Moderate Buy” and an average target price of $37.83.

Gentex Stock Performance

Shares of GNTX opened at $33.91 on Friday. The company has a 50-day simple moving average of $35.70 and a 200-day simple moving average of $32.99. The firm has a market capitalization of $7.84 billion, a P/E ratio of 18.43, a P/E/G ratio of 0.71 and a beta of 0.99. Gentex Co. has a 52 week low of $25.85 and a 52 week high of $37.58.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, January 26th. The auto parts company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. Gentex had a net margin of 18.63% and a return on equity of 19.25%. The business had revenue of $589.13 million during the quarter, compared to analyst estimates of $563.42 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, equities analysts forecast that Gentex Co. will post 2.16 earnings per share for the current year.

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Friday, April 5th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Thursday, April 4th. Gentex’s dividend payout ratio is 26.09%.

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.