Truist Financial Corp Has $3.28 Million Stock Holdings in Gentex Corporation $GNTX

Truist Financial Corp lifted its holdings in shares of Gentex Corporation (NASDAQ:GNTX) by 41.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 140,977 shares of the auto parts company’s stock after acquiring an additional 41,268 shares during the period. Truist Financial Corp’s holdings in Gentex were worth $3,281,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in GNTX. Mirae Asset Global Investments Co. Ltd. bought a new stake in Gentex in the third quarter valued at about $38,000. Clearstead Advisors LLC lifted its stake in Gentex by 82.3% during the third quarter. Clearstead Advisors LLC now owns 2,042 shares of the auto parts company’s stock worth $58,000 after purchasing an additional 922 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in Gentex by 2,420.7% during the third quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company’s stock valued at $58,000 after purchasing an additional 1,985 shares in the last quarter. Grey Fox Wealth Advisors LLC acquired a new stake in Gentex during the third quarter valued at approximately $65,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Gentex in the 4th quarter valued at approximately $73,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CTO Neil Boehm sold 11,248 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $24.82, for a total value of $279,175.36. Following the completion of the sale, the chief technology officer directly owned 58,951 shares in the company, valued at approximately $1,463,163.82. This trade represents a 16.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kevin C. Nash sold 11,885 shares of Gentex stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $24.98, for a total value of $296,887.30. Following the completion of the transaction, the chief financial officer directly owned 59,430 shares of the company’s stock, valued at $1,484,561.40. This represents a 16.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 62,948 shares of company stock worth $1,554,550 over the last ninety days. Company insiders own 0.55% of the company’s stock.

Gentex Trading Down 0.8%

NASDAQ:GNTX opened at $23.20 on Tuesday. Gentex Corporation has a 1 year low of $20.48 and a 1 year high of $29.38. The firm has a 50 day moving average of $22.20 and a 200-day moving average of $23.13. The stock has a market capitalization of $4.94 billion, a P/E ratio of 13.03 and a beta of 0.78.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. Gentex had a return on equity of 16.27% and a net margin of 14.75%.The business had revenue of $675.44 million for the quarter, compared to analyst estimates of $649.42 million. During the same period in the prior year, the company earned $0.42 EPS. Gentex’s revenue for the quarter was up 17.1% on a year-over-year basis. As a group, analysts forecast that Gentex Corporation will post 1.92 EPS for the current fiscal year.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Wednesday, April 8th. Gentex’s dividend payout ratio is presently 26.97%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GNTX shares. JPMorgan Chase & Co. dropped their target price on Gentex from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, April 23rd. Robert W. Baird upped their price target on Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. B. Riley Financial reiterated a “buy” rating and set a $29.00 price objective (up from $28.00) on shares of Gentex in a research note on Monday, April 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Gentex in a report on Thursday, January 22nd. Finally, Freedom Capital upgraded shares of Gentex to a “strong-buy” rating in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Gentex has a consensus rating of “Hold” and a consensus price target of $26.67.

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).