Oak Family Advisors LLC Reduces Holdings in Gentex Corporation $GNTX

Key Points

• Oak Family Advisors cut its stake in Gentex by 40.9% in Q4, selling 55,917 shares and ending the period with 80,924 shares valued at about $1.88 million.
• Gentex beat quarterly expectations with $0.48 EPS vs. $0.44 and revenue of $675.4M (up 17.1% YoY), and it pays a quarterly dividend of $0.12 (annualized yield ~2.1%).
• Insiders have sold 62,948 shares (~$1.55M) in the last three months while institutional ownership sits at 86.76%; the stock trades at a P/E of 12.97 with a MarketBeat consensus rating of “Hold” and a target of $26.67.

Oak Family Advisors LLC reduced its holdings in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 40.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 80,924 shares of the auto parts company's stock after selling 55,917 shares during the period. Oak Family Advisors LLC's holdings in Gentex were worth $1,883,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in Gentex during the 3rd quarter worth $38,000. Clearstead Advisors LLC grew its position in Gentex by 82.3% during the 3rd quarter. Clearstead Advisors LLC now owns 2,042 shares of the auto parts company's stock worth $58,000 after purchasing an additional 922 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in Gentex by 2,420.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company's stock worth $58,000 after purchasing an additional 1,985 shares during the last quarter. Grey Fox Wealth Advisors LLC purchased a new position in Gentex during the 3rd quarter worth $65,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Gentex during the 4th quarter worth $73,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Trading Down 2.0%

GNTX stock opened at $23.08 on Friday. The company has a market cap of $4.93 billion, a P/E ratio of 12.97 and a beta of 0.78. Gentex Corporation has a 52 week low of $20.48 and a 52 week high of $29.38. The company's 50-day moving average price is $22.22 and its 200 day moving average price is $23.18.

Gentex (NASDAQ:GNTX - Get Free Report) last released its quarterly earnings data on Friday, April 24th. The auto parts company reported $0.48 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.04. The firm had revenue of $675.44 million for the quarter, compared to the consensus estimate of $649.42 million. Gentex had a net margin of 14.75% and a return on equity of 16.27%. The firm's revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 earnings per share. On average, equities research analysts expect that Gentex Corporation will post 1.92 earnings per share for the current year.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 8th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, April 8th. This represents a $0.48 dividend on an annualized basis and a yield of 2.1%. Gentex's payout ratio is presently 26.97%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Gentex in a report on Thursday, January 22nd. Robert W. Baird lifted their target price on shares of Gentex from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Monday, April 27th. UBS Group set a $26.00 target price on shares of Gentex in a report on Sunday, April 26th. B. Riley Financial reaffirmed a "buy" rating and issued a $29.00 target price (up from $28.00) on shares of Gentex in a report on Monday, April 27th. Finally, Wall Street Zen raised shares of Gentex from a "hold" rating to a "buy" rating in a report on Sunday, March 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $26.67.

Insider Buying and Selling at Gentex

In other Gentex news, CFO Kevin C. Nash sold 11,885 shares of Gentex stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $24.98, for a total transaction of $296,887.30. Following the completion of the transaction, the chief financial officer owned 59,430 shares in the company, valued at approximately $1,484,561.40. The trade was a 16.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard O. Schaum sold 4,815 shares of Gentex stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $23.31, for a total transaction of $112,237.65. Following the transaction, the director owned 81,443 shares of the company's stock, valued at approximately $1,898,436.33. The trade was a 5.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 62,948 shares of company stock worth $1,554,550. 0.55% of the stock is currently owned by insiders.

Gentex Profile

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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