Gentex Co. (NASDAQ:GNTX) Shares Sold by Sigma Planning Corp

Sigma Planning Corp decreased its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 23.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 11,461 shares of the auto parts company’s stock after selling 3,485 shares during the period. Sigma Planning Corp’s holdings in Gentex were worth $374,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Wellington Management Group LLP grew its position in Gentex by 95.4% in the 3rd quarter. Wellington Management Group LLP now owns 6,823,022 shares of the auto parts company’s stock worth $222,021,000 after purchasing an additional 3,330,502 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in Gentex by 110.1% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 375,336 shares of the auto parts company’s stock worth $12,356,000 after purchasing an additional 196,718 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its position in Gentex by 66.7% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 250,000 shares of the auto parts company’s stock worth $8,135,000 after purchasing an additional 100,000 shares during the last quarter. Reinhart Partners LLC. grew its position in Gentex by 10.7% in the 4th quarter. Reinhart Partners LLC. now owns 979,355 shares of the auto parts company’s stock worth $31,986,000 after purchasing an additional 94,794 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its position in Gentex by 18.9% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 593,791 shares of the auto parts company’s stock worth $19,322,000 after purchasing an additional 94,200 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Insider Activity at Gentex

In related news, CFO Kevin C. Nash sold 13,500 shares of the company’s stock in a transaction that occurred 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 sale, 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 legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Kevin C. Nash sold 13,500 shares of the company’s stock in a transaction that occurred 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 sale, 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard O. Schaum sold 6,022 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $33.93, for a total transaction of $204,326.46. Following the completion of the sale, the director now owns 62,555 shares of the company’s stock, valued at approximately $2,122,491.15. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

Gentex Stock Performance

Shares of NASDAQ:GNTX opened at $34.71 on Friday. The stock has a market capitalization of $8.03 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 0.74 and a beta of 0.99. Gentex Co. has a 1-year low of $25.85 and a 1-year high of $37.58. The company has a 50 day moving average price of $35.67 and a 200 day moving average price of $33.09.

Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, January 26th. The auto parts company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. The firm had revenue of $589.13 million during the quarter, compared to analysts’ expectations of $563.42 million. Gentex had a net margin of 18.63% and a return on equity of 19.25%. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period last year, the firm posted $0.37 earnings per share. On average, sell-side analysts expect that Gentex Co. will post 2.17 EPS for the current fiscal year.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Friday, April 5th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Thursday, April 4th. Gentex’s payout ratio is 26.09%.

Wall Street Analyst Weigh In

GNTX has been the subject of several recent analyst reports. The Goldman Sachs Group upped their target price on shares of Gentex from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. B. Riley increased their price objective on shares of Gentex from $42.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. JPMorgan Chase & Co. increased their price objective on shares of Gentex from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. StockNews.com upgraded shares of Gentex from a “hold” rating to a “buy” rating in a report on Friday, February 23rd. Finally, Guggenheim increased their price objective on shares of Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.83.

About Gentex

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.