Ethic Inc. Sells 21,718 Shares of Gentex Co. (NASDAQ:GNTX)

Ethic Inc. decreased its holdings in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 57.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,957 shares of the auto parts company's stock after selling 21,718 shares during the quarter. Ethic Inc.'s holdings in Gentex were worth $458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Midwest Capital Advisors LLC purchased a new stake in Gentex during the 4th quarter worth about $26,000. TD Private Client Wealth LLC lifted its holdings in shares of Gentex by 138.8% in the fourth 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 in the last quarter. Synergy Asset Management LLC purchased a new position in Gentex during the fourth quarter valued at approximately $34,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in Gentex by 32.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,419 shares of the auto parts company's stock valued at $70,000 after acquiring an additional 593 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in Gentex during the 4th quarter worth approximately $96,000. Hedge funds and other institutional investors own 86.76% of the company's stock.

Gentex Trading Down 0.7%

Shares of GNTX traded down $0.15 during midday trading on Wednesday, reaching $22.41. The stock had a trading volume of 227,680 shares, compared to its average volume of 2,280,114. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 0.84 and a beta of 0.85. The company's 50-day moving average is $22.44 and its 200 day moving average is $25.95. Gentex Co. has a 12-month low of $20.28 and a 12-month 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, hitting the consensus estimate of $0.43. The business had revenue of $576.77 million during the quarter, compared to analyst estimates of $578.68 million. Gentex had a return on equity of 16.74% and a net margin of 17.49%. Gentex's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 earnings per share. Research analysts forecast 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 was paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, April 9th. This represents a $0.48 annualized dividend and a yield of 2.14%. Gentex's payout ratio is 28.07%.

Wall Street Analyst Weigh In

GNTX has been the subject of a number of recent analyst reports. UBS Group reduced their price target on shares of Gentex from $29.00 to $21.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. The Goldman Sachs Group dropped their price objective on Gentex from $28.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. B. Riley restated a "buy" rating and issued a $32.50 target price (down from $37.00) on shares of Gentex in a research note on Monday, February 3rd. Baird R W cut Gentex from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. dropped their price target on Gentex from $34.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Gentex currently has a consensus rating of "Hold" and an average target price of $28.31.

Insiders Place Their Bets

In other Gentex news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $22.87, for a total value of $86,082.68. Following the completion of the transaction, the director now owns 5,939 shares of the company's stock, valued at approximately $135,824.93. The trade was a 38.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.