Segall Bryant & Hamill LLC Has $7.30 Million Holdings in Gentex Corporation $GNTX

Key Points

• Segall Bryant & Hamill LLC cut its stake in Gentex by 56.4%, selling 333,569 shares and leaving 257,822 shares valued at about $7.30 million.
• Institutional activity is mixed: JPMorgan added 1,206,060 shares to hold 6,725,426 shares (≈$190.3M) while overall institutional ownership stands at about 86.8%.
• Gentex beat EPS estimates ($0.44 vs $0.43) with revenue up 19% YoY but slightly below estimates at $644.4M; it announced a quarterly dividend of $0.12 (annualized yield ~2.1%) and insiders sold roughly 58,133 shares recently.

Segall Bryant & Hamill LLC cut its holdings in Gentex Corporation (NASDAQ:GNTX - Free Report) by 56.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 257,822 shares of the auto parts company's stock after selling 333,569 shares during the period. Segall Bryant & Hamill LLC owned approximately 0.12% of Gentex worth $7,296,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GNTX. Nordea Investment Management AB acquired a new stake in Gentex in the 3rd quarter worth approximately $6,422,000. Cidel Asset Management Inc. raised its position in shares of Gentex by 13.7% in the third quarter. Cidel Asset Management Inc. now owns 450,780 shares of the auto parts company's stock valued at $12,757,000 after purchasing an additional 54,328 shares during the period. Deprince Race & Zollo Inc. acquired a new stake in shares of Gentex in the third quarter worth $26,283,000. JPMorgan Chase & Co. lifted its stake in shares of Gentex by 21.9% in the third quarter. JPMorgan Chase & Co. now owns 6,725,426 shares of the auto parts company's stock worth $190,330,000 after buying an additional 1,206,060 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. bought a new stake in shares of Gentex during the 2nd quarter worth $19,318,000. 86.76% of the stock is currently owned by institutional investors.

Gentex Stock Down 0.6%

Gentex stock opened at $22.87 on Thursday. The business has a 50 day moving average price of $23.89 and a two-hundred day moving average price of $24.96. Gentex Corporation has a 12 month low of $20.28 and a 12 month high of $29.38. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 13.14 and a beta of 0.76.

Gentex (NASDAQ:GNTX - Get Free Report) last announced its quarterly earnings data on Friday, January 30th. The auto parts company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $644.40 million for the quarter, compared to analyst estimates of $650.90 million. Gentex had a return on equity of 16.05% and a net margin of 15.19%.Gentex's revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.39 EPS. On average, analysts expect that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, April 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.1%. Gentex's dividend payout ratio is currently 27.59%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. UBS Group set a $25.00 target price on shares of Gentex in a report on Monday, February 2nd. Robert W. Baird set a $26.00 price target on Gentex in a research report on Wednesday, January 14th. Wall Street Zen lowered Gentex from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Weiss Ratings restated a "hold (c)" rating on shares of Gentex in a research note on Thursday, January 22nd. Finally, B. Riley Financial lowered their target price on Gentex from $32.00 to $28.00 and set a "buy" rating on the stock in a report on Monday, February 2nd. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Gentex currently has a consensus rating of "Hold" and an average target price of $26.71.

Insider Transactions at Gentex

In other news, CTO Neil Boehm sold 11,248 shares of the firm's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $24.82, for a total transaction of $279,175.36. Following the completion of the transaction, the chief technology officer directly owned 58,951 shares of the company's stock, valued at approximately $1,463,163.82. This trade represents a 16.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven R. Downing sold 35,000 shares of the company's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $24.75, for a total transaction of $866,250.00. Following the completion of the sale, the chief executive officer directly owned 211,670 shares in the company, valued at approximately $5,238,832.50. The trade was a 14.19% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 58,133 shares of company stock valued at $1,442,313. Company insiders own 0.45% of the company's stock.

Gentex Company 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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