Gentex Co. (NASDAQ:GNTX) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. decreased its holdings in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 60.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,338 shares of the auto parts company's stock after selling 40,022 shares during the period. D. E. Shaw & Co. Inc.'s holdings in Gentex were worth $757,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Midwest Capital Advisors LLC purchased a new stake in shares of Gentex in the fourth quarter valued at approximately $26,000. TD Private Client Wealth LLC lifted its holdings in Gentex by 138.8% in the fourth quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company's stock valued at $33,000 after acquiring an additional 662 shares during the period. Synergy Asset Management LLC purchased a new stake in shares of Gentex during the 4th quarter worth $34,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Gentex during the 4th quarter worth $96,000. Finally, Quarry LP acquired a new position in shares of Gentex during the 4th quarter worth $120,000. Institutional investors and hedge funds own 86.76% of the company's stock.

Gentex Stock Up 1.4%

Shares of Gentex stock traded up $0.30 during trading on Thursday, hitting $21.78. 1,857,900 shares of the company were exchanged, compared to its average volume of 1,816,882. Gentex Co. has a fifty-two week low of $20.28 and a fifty-two week high of $35.32. The firm has a 50 day moving average price of $22.12 and a 200 day moving average price of $25.57. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 12.38, a P/E/G ratio of 0.84 and a beta of 0.85.

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 for the quarter, hitting analysts' consensus estimates of $0.43. The company had revenue of $576.77 million during the quarter, compared to analysts' expectations of $578.68 million. Gentex had a return on equity of 16.74% and a net margin of 17.49%. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 earnings per share. Analysts predict that Gentex Co. 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 paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, July 9th. This represents a $0.48 annualized dividend and a dividend yield of 2.20%. Gentex's dividend payout ratio is currently 28.07%.

Insider Transactions at Gentex

In other news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the firm's stock in a transaction 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 sale, the director now owns 5,939 shares in the company, valued at $135,824.93. This trade represents a 38.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.45% of the company's stock.

Wall Street Analysts Forecast Growth

GNTX has been the subject of several recent analyst reports. UBS Group reduced their price objective on shares of Gentex from $29.00 to $21.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Robert W. Baird reiterated a "neutral" rating and set a $25.00 price target (down from $31.00) on shares of Gentex in a research report on Tuesday, April 15th. The Goldman Sachs Group lowered their price target on Gentex from $28.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. JPMorgan Chase & Co. dropped their price objective on Gentex from $34.00 to $32.00 and set a "neutral" rating for the company in a research note on Monday, February 3rd. Finally, B. Riley reaffirmed a "buy" rating and set a $32.50 price objective (down from $37.00) on shares of Gentex in a report on Monday, February 3rd. 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, the company has an average rating of "Hold" and an average price target of $28.31.

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.