Gentex Corporation $GNTX Shares Sold by IFG Advisory LLC

Key Points

• IFG Advisory LLC cut its Gentex stake by 35.8% in the fourth quarter, selling 52,709 shares and leaving it with 94,578 shares valued at about $2.2 million.
• Gentex reported stronger-than-expected quarterly results, posting $0.48 EPS on revenue of $675.44 million, both above analyst estimates, with revenue up 17.1% year over year.
• Despite the earnings beat, the stock was down 0.3% and analysts remain cautious overall, with a consensus rating of Hold and an average price target of $26.83.

IFG Advisory LLC reduced its position in Gentex Corporation (NASDAQ:GNTX - Free Report) by 35.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,578 shares of the auto parts company's stock after selling 52,709 shares during the quarter. IFG Advisory LLC's holdings in Gentex were worth $2,201,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in shares of Gentex by 10.3% in the 3rd quarter. Wellington Management Group LLP now owns 14,828,120 shares of the auto parts company's stock valued at $419,636,000 after buying an additional 1,383,203 shares during the period. State Street Corp boosted its stake in shares of Gentex by 1.0% in the 2nd quarter. State Street Corp now owns 7,439,333 shares of the auto parts company's stock valued at $163,591,000 after buying an additional 74,779 shares during the period. American Century Companies Inc. boosted its stake in shares of Gentex by 2.0% in the 3rd quarter. American Century Companies Inc. now owns 6,742,293 shares of the auto parts company's stock valued at $190,807,000 after buying an additional 131,035 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Gentex by 21.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,725,426 shares of the auto parts company's stock valued at $190,330,000 after buying an additional 1,206,060 shares during the period. Finally, Boston Partners boosted its stake in shares of Gentex by 2.1% in the 3rd quarter. Boston Partners now owns 5,912,491 shares of the auto parts company's stock valued at $167,299,000 after buying an additional 123,731 shares during the period. Hedge funds and other institutional investors own 86.76% of the company's stock.

Gentex Stock Down 0.3%

GNTX stock opened at $24.08 on Friday. The business has a 50 day moving average price of $22.54 and a 200 day moving average price of $23.08. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of 13.53 and a beta of 0.78. Gentex Corporation has a fifty-two week low of $20.48 and a fifty-two week high of $29.38.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its earnings results on Friday, April 24th. The auto parts company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.04. The firm had revenue of $675.44 million during the quarter, compared to analysts' expectations of $649.42 million. Gentex had a return on equity of 16.27% and a net margin of 14.75%.The firm's revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 earnings per share. As a group, sell-side analysts anticipate that Gentex Corporation will post 1.96 EPS for the current year.

Insider Buying and Selling at Gentex

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Robert W. Baird lifted their price objective on Gentex from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Monday, April 27th. B. Riley Financial restated 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. Freedom Capital upgraded Gentex to a "strong-buy" rating in a research note on Friday, March 27th. JPMorgan Chase & Co. boosted their target price on Gentex from $27.00 to $28.00 and gave the stock a "neutral" rating in a research note on Thursday, May 14th. Finally, Wall Street Zen upgraded Gentex from a "hold" rating to a "buy" rating in a research note on Sunday, March 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $26.83.

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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