GHP Investment Advisors Inc. Sells 14,714 Shares of Gentex Corporation (NASDAQ:GNTX)

GHP Investment Advisors Inc. decreased its holdings in Gentex Corporation (NASDAQ:GNTX - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 150,163 shares of the auto parts company's stock after selling 14,714 shares during the quarter. GHP Investment Advisors Inc. owned 0.07% of Gentex worth $3,499,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GNTX. JPMorgan Chase & Co. grew its position in Gentex by 162.4% in the fourth quarter. JPMorgan Chase & Co. now owns 5,249,230 shares of the auto parts company's stock worth $150,810,000 after buying an additional 3,248,434 shares during the last quarter. Norges Bank acquired a new position in Gentex in the 4th quarter worth approximately $51,959,000. Wellington Management Group LLP boosted its stake in Gentex by 6.1% in the 4th quarter. Wellington Management Group LLP now owns 18,023,056 shares of the auto parts company's stock worth $517,802,000 after purchasing an additional 1,038,912 shares during the period. Raymond James Financial Inc. acquired a new position in Gentex in the 4th quarter worth approximately $24,479,000. Finally, American Century Companies Inc. boosted its stake in Gentex by 66.9% in the 4th quarter. American Century Companies Inc. now owns 1,657,397 shares of the auto parts company's stock worth $47,617,000 after purchasing an additional 664,389 shares during the period. Institutional investors and hedge funds own 86.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GNTX shares. Baird R W lowered shares of Gentex from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. 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. The Goldman Sachs Group decreased their price objective on shares of Gentex from $28.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Guggenheim decreased their price objective on shares of Gentex from $30.00 to $24.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, UBS Group decreased 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. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $28.31.

Gentex Stock Up 0.6%

Shares of NASDAQ:GNTX traded up $0.13 during trading on Friday, reaching $21.99. 2,899,590 shares of the company traded hands, compared to its average volume of 1,850,106. The firm has a fifty day simple moving average of $21.88 and a 200 day simple moving average of $24.28. The firm has a market cap of $4.94 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 1.09 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 issued its earnings results on Friday, April 25th. The auto parts company reported $0.43 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.43. The company had revenue of $576.77 million during the quarter, compared to analyst estimates of $578.68 million. Gentex had a net margin of 17.01% and a return on equity of 16.11%. The company's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the business posted $0.47 EPS. As a group, research analysts anticipate that Gentex Corporation will post 2.04 EPS for the current year.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.18%. Gentex's dividend payout ratio is currently 28.07%.

Insider Activity

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 shares were sold at an average price of $22.87, for a total transaction of $86,082.68. Following the transaction, the director now owns 5,939 shares in the company, valued at approximately $135,824.93. This trade represents a 38.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.45% of the stock is 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.