Gentex Corporation (NASDAQ:GNTX) Stake Cut by Trust Point Inc.

Trust Point Inc. decreased its holdings in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 55.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,974 shares of the auto parts company's stock after selling 17,472 shares during the period. Trust Point Inc.'s holdings in Gentex were worth $326,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in GNTX. Oppenheimer Asset Management Inc. grew its position in shares of Gentex by 6.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 7,445 shares of the auto parts company's stock valued at $214,000 after buying an additional 457 shares during the last quarter. ProShare Advisors LLC boosted its stake in 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. boosted its stake in Gentex by 0.5% in the fourth quarter. Scotia Capital Inc. now owns 126,325 shares of the auto parts company's stock valued at $3,629,000 after acquiring an additional 608 shares during the period. Smith Moore & CO. grew its holdings in shares of Gentex by 3.5% during the fourth quarter. Smith Moore & CO. now owns 18,666 shares of the auto parts company's stock valued at $536,000 after purchasing an additional 632 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of Gentex by 0.6% during the 4th 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 purchasing an additional 640 shares during the period. Institutional investors own 86.76% of the company's stock.

Insider Buying and Selling

In related news, Director Joseph B. Anderson, Jr. sold 3,764 shares of Gentex stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $22.87, for a total value of $86,082.68. Following the transaction, the director now owns 5,939 shares of the company's stock, valued at approximately $135,824.93. This trade represents a 38.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.45% of the company's stock.

Gentex Price Performance

GNTX opened at $21.45 on Wednesday. The business has a 50 day moving average price of $21.83 and a two-hundred day moving average price of $24.76. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 0.91 and a beta of 0.81. Gentex Corporation has a 1-year low of $20.28 and a 1-year high of $35.32.

Gentex (NASDAQ:GNTX - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The auto parts company reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. The business had revenue of $576.77 million during 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%. The company's revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 earnings per share. Equities analysts expect that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $0.48 annualized dividend and a dividend yield of 2.24%. Gentex's dividend payout ratio is currently 28.07%.

Wall Street Analysts Forecast Growth

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

About Gentex

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.

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