Greenleaf Trust Sells 452 Shares of Gentex Co. (NASDAQ:GNTX)

Greenleaf Trust reduced its stake in shares of Gentex Co. (NASDAQ:GNTX) by 4.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,922 shares of the auto parts company’s stock after selling 452 shares during the quarter. Greenleaf Trust’s holdings in Gentex were worth $265,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. TD Asset Management Inc increased its position in shares of Gentex by 41.2% during the 1st quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock valued at $168,957,000 after purchasing an additional 1,363,898 shares during the last quarter. Cetera Investment Advisers increased its position in Gentex by 91.0% during the first quarter. Cetera Investment Advisers now owns 127,876 shares of the auto parts company’s stock valued at $4,619,000 after acquiring an additional 60,934 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Gentex by 15.7% in the first quarter. Janney Montgomery Scott LLC now owns 411,535 shares of the auto parts company’s stock valued at $14,865,000 after acquiring an additional 55,748 shares during the period. BNP Paribas bought a new stake in shares of Gentex in the 1st quarter worth about $1,073,000. Finally, Leeward Investments LLC MA purchased a new position in shares of Gentex during the 1st quarter worth about $28,289,000. 86.76% of the stock is owned by institutional investors.

Insider Buying and Selling at Gentex

In other Gentex news, major shareholder Corp Gentex purchased 3,152,500 shares of Gentex stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $5.00 per share, with a total value of $15,762,500.00. Following the completion of the transaction, the insider now owns 6,463,808 shares in the company, valued at approximately $32,319,040. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GNTX shares. Bank of America reduced their price objective on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Robert W. Baird decreased their price target on Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Monday, July 29th. B. Riley cut their price objective on Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Monday, July 29th. StockNews.com downgraded Gentex from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. Finally, BNP Paribas cut shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target on the stock. in a report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $36.13.

Gentex Stock Performance

NASDAQ:GNTX opened at $31.25 on Friday. The firm has a 50-day simple moving average of $29.93 and a 200-day simple moving average of $32.22. Gentex Co. has a one year low of $27.86 and a one year high of $37.58. The firm has a market cap of $7.19 billion, a P/E ratio of 17.46, a P/E/G ratio of 0.91 and a beta of 0.92.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, October 25th. The auto parts company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.50 by $0.03. The firm had revenue of $608.53 million during the quarter, compared to analyst estimates of $611.33 million. Gentex had a return on equity of 17.78% and a net margin of 17.87%. On average, research analysts predict that Gentex Co. will post 1.94 EPS for the current fiscal year.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a yield of 1.54%. Gentex’s payout ratio is 26.82%.

Gentex Company 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.