Capital Insight Partners LLC Lowers Position in Gentex Corporation (NASDAQ:GNTX)

Capital Insight Partners LLC lessened its stake in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 34.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,175 shares of the auto parts company's stock after selling 34,680 shares during the period. Capital Insight Partners LLC's holdings in Gentex were worth $1,542,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. ProShare Advisors LLC boosted its position in shares of Gentex by 6.0% in the fourth quarter. ProShare Advisors LLC now owns 10,641 shares of the auto parts company's stock valued at $306,000 after acquiring an additional 605 shares during the period. Scotia Capital Inc. increased its stake in shares of Gentex by 0.5% in the fourth quarter. Scotia Capital Inc. now owns 126,325 shares of the auto parts company's stock worth $3,629,000 after buying an additional 608 shares during the period. Smith Moore & CO. increased its stake in shares of Gentex by 3.5% in the fourth quarter. Smith Moore & CO. now owns 18,666 shares of the auto parts company's stock worth $536,000 after buying an additional 632 shares during the period. Treasurer of the State of North Carolina increased its stake in shares of Gentex by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 101,711 shares of the auto parts company's stock worth $2,922,000 after buying an additional 640 shares during the period. Finally, Centurion Wealth Management LLC increased its position in Gentex by 7.8% during the 4th quarter. Centurion Wealth Management LLC now owns 9,011 shares of the auto parts company's stock valued at $259,000 after purchasing an additional 652 shares during the period. Hedge funds and other institutional investors own 86.76% of the company's stock.

Gentex Stock Performance

GNTX traded down $0.20 on Friday, hitting $23.08. The company had a trading volume of 2,209,646 shares, compared to its average volume of 1,895,115. Gentex Corporation has a 12-month low of $20.28 and a 12-month high of $35.32. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 1.15 and a beta of 0.81. The stock has a fifty day moving average price of $22.13 and a 200-day moving average price of $23.85.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its earnings results on Friday, April 25th. The auto parts company reported $0.43 EPS for the quarter, meeting analysts' consensus estimates of $0.43. The firm had revenue of $576.77 million for the quarter, compared to analyst estimates of $578.68 million. Gentex had a return on equity of 16.11% and a net margin of 17.01%. Gentex's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 earnings per share. Analysts forecast that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Wednesday, July 9th. Gentex's payout ratio is presently 28.07%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GNTX. Baird R W cut shares of Gentex from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Robert W. Baird upped their price target on shares of Gentex from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Friday. The Goldman Sachs Group lowered their target price on shares of Gentex from $28.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Guggenheim reduced their price target on shares of Gentex from $30.00 to $24.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Finally, UBS Group dropped their price target on shares of Gentex from $29.00 to $21.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $28.44.

Insider Transactions at Gentex

In other news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $22.87, for a total transaction of $86,082.68. Following the completion of the transaction, the director directly owned 5,939 shares of the company's stock, valued at $135,824.93. This represents a 38.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.45% of the company's stock.

Gentex 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.