Gentex Co. (NASDAQ:GNTX) Shares Sold by Legacy Trust

Legacy Trust decreased its holdings in Gentex Co. (NASDAQ:GNTX - Free Report) by 27.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,495 shares of the auto parts company's stock after selling 23,088 shares during the period. Legacy Trust's holdings in Gentex were worth $1,410,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its holdings in shares of Gentex by 16.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,787,311 shares of the auto parts company's stock valued at $80,079,000 after acquiring an additional 386,461 shares during the last quarter. LPL Financial LLC raised its position in Gentex by 31.6% in the 4th quarter. LPL Financial LLC now owns 189,254 shares of the auto parts company's stock worth $5,437,000 after purchasing an additional 45,475 shares during the period. Raymond James Financial Inc. purchased a new stake in Gentex in the 4th quarter worth about $24,479,000. Marshall Wace LLP purchased a new stake in Gentex in the 4th quarter worth about $10,868,000. Finally, BCGM Wealth Management LLC raised its position in Gentex by 64.2% in the 4th quarter. BCGM Wealth Management LLC now owns 56,743 shares of the auto parts company's stock worth $1,630,000 after purchasing an additional 22,180 shares during the period. Institutional investors own 86.76% of the company's stock.

Gentex Trading Up 1.6%

Shares of NASDAQ:GNTX traded up $0.35 on Monday, hitting $22.07. 1,704,296 shares of the company were exchanged, compared to its average volume of 1,841,511. Gentex Co. has a 1-year low of $20.28 and a 1-year high of $35.32. The stock's 50 day moving average price is $21.84 and its 200 day moving average price is $24.79. The firm has a market capitalization of $4.96 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 0.84 and a beta of 0.81.

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, hitting the consensus estimate of $0.43. Gentex had a net margin of 17.49% and a return on equity of 16.74%. The firm had revenue of $576.77 million during the quarter, compared to analysts' expectations of $578.68 million. During the same quarter last year, the company posted $0.47 earnings per share. The firm's revenue was down 2.3% compared to the same quarter last year. On average, equities analysts predict that Gentex Co. will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $0.48 dividend on an annualized basis and a yield of 2.17%. Gentex's payout ratio is 28.07%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GNTX. Robert W. Baird reissued a "neutral" rating and issued a $25.00 price objective (down from $31.00) on shares of Gentex in a research report on Tuesday, April 15th. Baird R W downgraded shares of Gentex from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. The Goldman Sachs Group lowered their target price 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 lowered their target price 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 lowered their target price 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 company. According to data from MarketBeat.com, Gentex currently has an average rating of "Hold" and an average target price of $28.31.

Insider Transactions at Gentex

In related news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $22.87, for a total transaction of $86,082.68. Following the completion of the sale, the director now owns 5,939 shares of the company's stock, valued at approximately $135,824.93. This represents a 38.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.45% of the company's stock.

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.