Gentex Co. (NASDAQ:GNTX) Stake Lowered by Squarepoint Ops LLC

Squarepoint Ops LLC decreased its position in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 26.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 523,022 shares of the auto parts company's stock after selling 186,982 shares during the quarter. Squarepoint Ops LLC owned 0.23% of Gentex worth $15,026,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Midwest Capital Advisors LLC purchased a new stake in Gentex in the 4th quarter valued at approximately $26,000. TD Private Client Wealth LLC increased its holdings in shares of Gentex by 138.8% during the 4th quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company's stock worth $33,000 after buying an additional 662 shares during the last quarter. Synergy Asset Management LLC acquired a new stake in shares of Gentex during the 4th quarter worth $34,000. LRI Investments LLC increased its holdings in shares of Gentex by 33.2% during the 4th quarter. LRI Investments LLC now owns 2,750 shares of the auto parts company's stock worth $79,000 after buying an additional 686 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Gentex in the 4th quarter valued at $96,000. Hedge funds and other institutional investors own 86.76% of the company's stock.

Gentex Price Performance

Shares of NASDAQ GNTX traded up $0.24 during mid-day trading on Tuesday, reaching $21.86. 398,759 shares of the company traded hands, compared to its average volume of 1,804,090. Gentex Co. has a fifty-two week low of $20.28 and a fifty-two week high of $35.32. The firm has a market cap of $4.91 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 0.84 and a beta of 0.85. The stock has a fifty day simple moving average of $22.26 and a 200-day simple moving average of $25.68.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its quarterly 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. The firm had revenue of $576.77 million for the quarter, compared to analyst estimates of $578.68 million. Gentex had a net margin of 17.49% and a return on equity of 16.74%. The firm's quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.47 earnings per share. As a group, analysts predict that Gentex Co. will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, April 9th. This represents a $0.48 annualized dividend and a yield of 2.20%. Gentex's dividend payout ratio (DPR) is 28.07%.

Insiders Place Their Bets

In other Gentex news, Director Joseph B. Anderson, Jr. sold 3,764 shares of Gentex stock in a transaction that occurred 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 directly owns 5,939 shares in the company, valued at approximately $135,824.93. The trade was a 38.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.45% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on GNTX. Robert W. Baird reiterated a "neutral" rating and issued a $25.00 price target (down from $31.00) on shares of Gentex in a report on Tuesday, April 15th. JPMorgan Chase & Co. reduced their price target on shares of Gentex from $34.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday, February 3rd. The Goldman Sachs Group cut their target price on shares of Gentex from $28.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. B. Riley reissued a "buy" rating and issued a $32.50 target price (down previously from $37.00) on shares of Gentex in a report on Monday, February 3rd. Finally, Baird R W lowered shares of Gentex from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target 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.