Richard Schaum Sells 4,815 Shares of Gentex (NASDAQ:GNTX) Stock

Key Points

• Director Richard Schaum sold 4,815 shares of Gentex at an average price of $23.31 on April 30 for $112,237.65, reducing his stake by 5.58% to 81,443 shares.
• Quarterly results beat expectations: Gentex reported $0.48 EPS vs. $0.44 expected and revenue of $675.44M (up 17.1% year-over-year), sending the stock slightly higher.
• Dividend and analyst view: Gentex declared a $0.12 quarterly dividend ($0.48 annualized, ~2.1% yield) while analysts hold a consensus "Hold" rating with an average price target of $26.67.

Gentex Corporation (NASDAQ:GNTX - Get Free Report) Director Richard Schaum sold 4,815 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $23.31, for a total transaction of $112,237.65. Following the completion of the sale, the director owned 81,443 shares in the company, valued at $1,898,436.33. The trade was a 5.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Gentex Stock Up 0.9%

Shares of NASDAQ:GNTX traded up $0.21 during midday trading on Thursday, reaching $23.11. The company's stock had a trading volume of 3,984,443 shares, compared to its average volume of 2,283,695. The firm has a market capitalization of $4.94 billion, a PE ratio of 12.98 and a beta of 0.77. Gentex Corporation has a twelve month low of $20.48 and a twelve month high of $29.38. The stock has a fifty day moving average of $22.27 and a 200 day moving average of $23.28.

Gentex (NASDAQ:GNTX - Get Free Report) last released its quarterly earnings data on Friday, April 24th. The auto parts company reported $0.48 earnings per share 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 analyst estimates of $649.42 million. Gentex had a net margin of 14.75% and a return on equity of 16.27%. The business's quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 earnings per share. Sell-side analysts anticipate that Gentex Corporation will post 1.92 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Wednesday, April 8th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.1%. The ex-dividend date was Wednesday, April 8th. Gentex's dividend payout ratio (DPR) is currently 26.97%.

Hedge Funds Weigh In On Gentex

Several hedge funds and other institutional investors have recently modified their holdings of GNTX. Royal Bank of Canada lifted its stake in shares of Gentex by 33.1% in the first quarter. Royal Bank of Canada now owns 189,561 shares of the auto parts company's stock worth $4,418,000 after buying an additional 47,150 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Gentex by 1.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,321,634 shares of the auto parts company's stock worth $30,794,000 after buying an additional 23,454 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Gentex by 255.6% in the first quarter. Empowered Funds LLC now owns 81,142 shares of the auto parts company's stock worth $1,891,000 after buying an additional 58,323 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Gentex by 8.0% in the second quarter. Invesco Ltd. now owns 813,163 shares of the auto parts company's stock worth $17,881,000 after buying an additional 60,127 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Gentex by 2,038.4% during the second quarter. EverSource Wealth Advisors LLC now owns 4,512 shares of the auto parts company's stock worth $99,000 after purchasing an additional 4,301 shares during the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GNTX has been the topic of several analyst reports. UBS Group set a $26.00 price target on shares of Gentex in a research report on Sunday. B. Riley Financial restated a "buy" rating and set a $29.00 price target (up from $28.00) on shares of Gentex in a research report on Monday. Wall Street Zen upgraded shares of Gentex from a "hold" rating to a "buy" rating in a research report on Sunday, March 8th. JPMorgan Chase & Co. dropped their price target on shares of Gentex from $28.00 to $27.00 and set a "neutral" rating on the stock in a research report on Thursday, April 23rd. Finally, Robert W. Baird raised their price target on shares of Gentex from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Gentex has a consensus rating of "Hold" and an average price target of $26.67.

About Gentex

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.