American Capital Management Inc. Sells 45,536 Shares of Gentex Corporation $GNTX

American Capital Management Inc. lowered its stake in Gentex Corporation (NASDAQ:GNTX - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 534,356 shares of the auto parts company's stock after selling 45,536 shares during the period. American Capital Management Inc. owned approximately 0.25% of Gentex worth $11,676,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Bank of Montreal Can increased its position in shares of Gentex by 14,398.7% in the fourth quarter. Bank of Montreal Can now owns 7,726,057 shares of the auto parts company's stock valued at $179,785,000 after acquiring an additional 7,672,769 shares during the period. Caisse de depot et placement du Quebec boosted its holdings in shares of Gentex by 297.0% during the fourth quarter. Caisse de depot et placement du Quebec now owns 3,144,881 shares of the auto parts company's stock worth $73,181,000 after purchasing an additional 2,352,668 shares during the period. Norges Bank purchased a new stake in shares of Gentex during the fourth quarter worth about $52,767,000. Wellington Management Group LLP grew its stake in shares of Gentex by 10.3% in the third quarter. Wellington Management Group LLP now owns 14,828,120 shares of the auto parts company's stock worth $419,636,000 after purchasing an additional 1,383,203 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Gentex by 25.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,629,380 shares of the auto parts company's stock worth $154,271,000 after purchasing an additional 1,349,445 shares during the last quarter. Institutional investors own 86.76% of the company's stock.

Gentex Stock Performance

Shares of Gentex stock opened at $22.92 on Tuesday. The stock has a market capitalization of $4.88 billion, a PE ratio of 12.13 and a beta of 0.78. Gentex Corporation has a 52-week low of $20.48 and a 52-week high of $29.38. The company has a 50-day simple moving average of $24.50 and a two-hundred day simple moving average of $23.51.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its earnings results on Friday, July 24th. The auto parts company reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.08. The business had revenue of $651.30 million during the quarter, compared to analyst estimates of $669.65 million. Gentex had a return on equity of 16.78% and a net margin of 15.50%.Gentex's revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.43 EPS. As a group, equities research analysts forecast that Gentex Corporation will post 1.97 EPS for the current fiscal year.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, July 8th. Gentex's payout ratio is presently 25.40%.

Insider Activity

In other Gentex news, Director Joseph B. Anderson, Jr. sold 5,939 shares of Gentex stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Brian C. Walker sold 5,939 shares of the business's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $22.98, for a total value of $136,478.22. Following the completion of the transaction, the director owned 24,205 shares in the company, valued at $556,230.90. The trade was a 19.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,693 shares of company stock valued at $385,194 in the last ninety days. Corporate insiders own 0.55% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on GNTX. B. Riley Financial reissued a "buy" rating and set a $29.00 target price (up from $28.00) on shares of Gentex in a research note on Monday, April 27th. JPMorgan Chase & Co. raised their price target on Gentex from $27.00 to $28.00 and gave the stock a "neutral" rating in a research note on Thursday, May 14th. Weiss Ratings upgraded shares of Gentex from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, June 23rd. Wall Street Zen downgraded shares of Gentex from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Finally, UBS Group restated a "neutral" rating and issued a $25.00 price objective (down from $26.00) on shares of Gentex in a report on Thursday, July 9th. One research 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. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $27.00.

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).

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