Leeward Investments LLC MA Sells 23,696 Shares of Gentex Corporation (NASDAQ:GNTX)

Leeward Investments LLC MA lowered its stake in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 3.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 658,292 shares of the auto parts company's stock after selling 23,696 shares during the period. Leeward Investments LLC MA owned approximately 0.29% of Gentex worth $15,338,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its position in Gentex by 0.4% during the first quarter. Principal Financial Group Inc. now owns 523,489 shares of the auto parts company's stock valued at $12,197,000 after purchasing an additional 1,923 shares during the period. Teacher Retirement System of Texas lifted its holdings in Gentex by 7.6% in the first quarter. Teacher Retirement System of Texas now owns 225,180 shares of the auto parts company's stock valued at $5,247,000 after acquiring an additional 15,938 shares during the period. Novem Group lifted its holdings in Gentex by 20.6% in the first quarter. Novem Group now owns 11,709 shares of the auto parts company's stock valued at $273,000 after acquiring an additional 1,999 shares during the period. Cidel Asset Management Inc. lifted its holdings in Gentex by 26.5% in the first quarter. Cidel Asset Management Inc. now owns 520,131 shares of the auto parts company's stock valued at $12,119,000 after acquiring an additional 108,899 shares during the period. Finally, Hunter Perkins Capital Management LLC lifted its holdings in Gentex by 37.1% in the first quarter. Hunter Perkins Capital Management LLC now owns 161,184 shares of the auto parts company's stock valued at $3,756,000 after acquiring an additional 43,604 shares during the period. Institutional investors own 86.76% of the company's stock.

Gentex Price Performance

Shares of GNTX stock traded down $0.11 on Friday, hitting $23.11. 1,261,265 shares of the stock traded hands, compared to its average volume of 1,866,957. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 1.14 and a beta of 0.81. Gentex Corporation has a 52 week low of $20.28 and a 52 week high of $35.32. The firm has a 50 day simple moving average of $22.00 and a two-hundred day simple moving average of $24.02.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its quarterly 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 business had revenue of $576.77 million for the quarter, compared to analysts' expectations of $578.68 million. Gentex had a return on equity of 16.11% and a net margin of 17.01%. The business's quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the firm earned $0.47 earnings per share. Sell-side analysts forecast that Gentex Corporation will post 2.04 EPS for the current year.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.08%. The ex-dividend date is Wednesday, July 9th. Gentex's dividend payout ratio (DPR) is presently 28.07%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. UBS Group lowered their price objective 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. The Goldman Sachs Group decreased their price target on shares of Gentex from $28.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Guggenheim decreased their price target on shares of Gentex from $30.00 to $24.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Baird R W cut Gentex from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $25.00 price objective (down previously from $31.00) on shares of Gentex in a research note on Tuesday, April 15th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $28.31.

Insider Activity

In other news, Director Joseph B. Anderson, Jr. sold 3,764 shares of Gentex stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $22.87, for a total transaction of $86,082.68. Following the sale, the director owned 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 filing with the SEC, which is available at the SEC website. 0.45% of the stock is currently owned by insiders.

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.