Cetera Investment Advisers Sells 20,206 Shares of Gentex Co. (NASDAQ:GNTX)

Cetera Investment Advisers lessened its holdings in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 13.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 129,216 shares of the auto parts company's stock after selling 20,206 shares during the period. Cetera Investment Advisers owned about 0.06% of Gentex worth $3,712,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in shares of Gentex by 162.4% in the fourth quarter. JPMorgan Chase & Co. now owns 5,249,230 shares of the auto parts company's stock worth $150,810,000 after purchasing an additional 3,248,434 shares during the period. Norges Bank acquired a new position in shares of Gentex during the 4th quarter worth $51,959,000. Wellington Management Group LLP grew its position in Gentex by 6.1% in the fourth quarter. Wellington Management Group LLP now owns 18,023,056 shares of the auto parts company's stock valued at $517,802,000 after acquiring an additional 1,038,912 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Gentex during the 4th quarter worth approximately $24,479,000. Finally, American Century Companies Inc. boosted its position in Gentex by 66.9% in the fourth quarter. American Century Companies Inc. now owns 1,657,397 shares of the auto parts company's stock valued at $47,617,000 after buying an additional 664,389 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company's stock.

Gentex Price Performance

Shares of NASDAQ GNTX traded down $0.03 during mid-day trading on Monday, reaching $23.04. 2,097,574 shares of the company's stock traded hands, compared to its average volume of 1,784,458. Gentex Co. has a 1-year low of $20.28 and a 1-year high of $35.32. The stock has a market cap of $5.18 billion, a P/E ratio of 13.09, a PEG ratio of 0.84 and a beta of 0.85. The business has a 50-day simple moving average of $22.49 and a 200 day simple moving average of $26.03.

Gentex (NASDAQ:GNTX - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The auto parts company reported $0.43 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.43. Gentex had a return on equity of 16.74% and a net margin of 17.49%. The business had revenue of $576.77 million during the quarter, compared to the consensus estimate of $578.68 million. During the same quarter in the previous year, the business earned $0.47 EPS. The company's quarterly revenue was down 2.3% on a year-over-year basis. Equities research analysts anticipate that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, April 9th. This represents a $0.48 annualized dividend and a dividend yield of 2.08%. Gentex's dividend payout ratio is currently 28.07%.

Insider Transactions at Gentex

In related news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $22.87, for a total transaction of $86,082.68. Following the completion of the sale, the director now owns 5,939 shares in the company, valued at approximately $135,824.93. This trade represents a 38.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.45% of the company's stock.

Wall Street Analysts Forecast Growth

GNTX has been the subject of a number of recent research reports. B. Riley restated a "buy" rating and issued a $32.50 price objective (down from $37.00) on shares of Gentex in a report on Monday, February 3rd. The Goldman Sachs Group dropped their price objective on Gentex from $28.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. UBS Group cut their target price on Gentex from $29.00 to $21.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. JPMorgan Chase & Co. dropped their price target on Gentex from $34.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. Finally, Baird R W cut Gentex from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $28.31.

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.