Capital Insight Partners LLC Has $1.54 Million Stake in Gentex Corporation (NASDAQ:GNTX)

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

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Values First Advisors Inc. lifted its holdings in shares of Gentex by 1.3% in the first quarter. Values First Advisors Inc. now owns 51,873 shares of the auto parts company's stock valued at $1,209,000 after purchasing an additional 676 shares in the last quarter. Penserra Capital Management LLC acquired a new position in Gentex during the first quarter valued at $303,000. Lightrock Netherlands B.V. raised its position in Gentex by 49.9% during the first quarter. Lightrock Netherlands B.V. now owns 490,384 shares of the auto parts company's stock valued at $11,445,000 after buying an additional 163,341 shares during the period. Principal Financial Group Inc. lifted its stake in Gentex by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 523,489 shares of the auto parts company's stock worth $12,197,000 after acquiring an additional 1,923 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its position in Gentex by 7.6% during the 1st quarter. Teacher Retirement System of Texas now owns 225,180 shares of the auto parts company's stock worth $5,247,000 after acquiring an additional 15,938 shares during the period. Institutional investors and hedge funds own 86.76% of the company's stock.

Gentex Price Performance

Shares of GNTX stock traded up $0.24 during trading on Thursday, reaching $23.28. The company had a trading volume of 3,860,271 shares, compared to its average volume of 1,889,871. The firm's 50 day simple moving average is $22.06 and its two-hundred day simple moving average is $23.93. Gentex Corporation has a one year low of $20.28 and a one year high of $35.32. The company has a market capitalization of $5.23 billion, a PE ratio of 13.61, a PEG ratio of 1.14 and a beta of 0.81.

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

Gentex Announces Dividend

The company 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 dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, July 9th. Gentex's dividend payout ratio (DPR) is 28.07%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Robert W. Baird reiterated a "neutral" rating and issued a $25.00 target price (down previously from $31.00) on shares of Gentex in a report on Tuesday, April 15th. The Goldman Sachs Group dropped their price objective 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 cut their target price 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. UBS Group lowered their price target on shares of Gentex from $29.00 to $21.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Finally, Baird R W lowered Gentex from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $28.31.

Insider Activity

In related news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the business's stock in a transaction dated 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 owned 5,939 shares of the company's stock, valued at approximately $135,824.93. The trade was a 38.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.