IFG Advisory LLC Trims Stock Holdings in Gentex Corporation $GNTX

IFG Advisory LLC lowered its position in Gentex Corporation (NASDAQ:GNTX) by 35.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 94,578 shares of the auto parts company’s stock after selling 52,709 shares during the quarter. IFG Advisory LLC’s holdings in Gentex were worth $2,201,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of GNTX. Royal Bank of Canada increased its holdings in shares of Gentex by 33.1% in the first quarter. Royal Bank of Canada now owns 189,561 shares of the auto parts company’s stock valued at $4,418,000 after purchasing an additional 47,150 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Gentex by 1.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,321,634 shares of the auto parts company’s stock valued at $30,794,000 after purchasing an additional 23,454 shares during the period. Empowered Funds LLC increased its holdings in shares of Gentex by 255.6% in the first quarter. Empowered Funds LLC now owns 81,142 shares of the auto parts company’s stock valued at $1,891,000 after purchasing an additional 58,323 shares during the period. Invesco Ltd. increased its holdings in shares of Gentex by 8.0% in the second quarter. Invesco Ltd. now owns 813,163 shares of the auto parts company’s stock valued at $17,881,000 after purchasing an additional 60,127 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Gentex by 2,038.4% in the second quarter. EverSource Wealth Advisors LLC now owns 4,512 shares of the auto parts company’s stock valued at $99,000 after purchasing an additional 4,301 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Price Performance

Shares of GNTX stock opened at $24.08 on Friday. The business’s fifty day moving average price is $22.54 and its 200 day moving average price is $23.08. Gentex Corporation has a 1-year low of $20.48 and a 1-year high of $29.38. The firm has a market capitalization of $5.13 billion, a PE ratio of 13.53 and a beta of 0.78.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, April 24th. The auto parts company reported $0.48 earnings per share 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 firm had revenue of $675.44 million for the quarter, compared to analyst estimates of $649.42 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. Gentex’s quarterly revenue was up 17.1% on a year-over-year basis. Equities research analysts expect that Gentex Corporation will post 1.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GNTX shares. Wall Street Zen raised Gentex from a “hold” rating to a “buy” rating in a report on Sunday, March 8th. Robert W. Baird boosted their target price on Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, April 27th. UBS Group set a $26.00 target price on Gentex in a report on Sunday, April 26th. Freedom Capital raised Gentex to a “strong-buy” rating in a report on Friday, March 27th. Finally, JPMorgan Chase & Co. boosted their target price on Gentex from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gentex has a consensus rating of “Hold” and an average price target of $26.83.

Insider Buying and Selling

In related news, Director Richard O. Schaum sold 4,815 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $23.31, for a total transaction of $112,237.65. Following the transaction, the director owned 81,443 shares of the company’s stock, valued at $1,898,436.33. This represents a 5.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph B. Anderson, Jr. sold 5,939 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,693 shares of company stock valued at $385,194 over the last quarter. Company insiders own 0.55% of the company’s stock.

About Gentex

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).