Snowden Capital Advisors LLC Has $3.79 Million Stock Position in Gentex Co. (NASDAQ:GNTX)

Snowden Capital Advisors LLC reduced its stake in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 32.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,036 shares of the auto parts company's stock after selling 63,675 shares during the period. Snowden Capital Advisors LLC owned about 0.06% of Gentex worth $3,793,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Sherbrooke Park Advisers LLC grew its holdings in Gentex by 39.1% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 27,235 shares of the auto parts company's stock worth $782,000 after acquiring an additional 7,653 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Gentex by 6.0% in the 4th quarter. ProShare Advisors LLC now owns 10,641 shares of the auto parts company's stock worth $306,000 after buying an additional 605 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of Gentex by 162.6% in the 4th quarter. Quantinno Capital Management LP now owns 52,601 shares of the auto parts company's stock worth $1,511,000 after buying an additional 32,573 shares during the last quarter. Nomura Holdings Inc. bought a new position in shares of Gentex in the 4th quarter worth about $867,000. Finally, Numerai GP LLC bought a new position in shares of Gentex in the 4th quarter worth about $455,000. 86.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Gentex news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $22.87, for a total value of $86,082.68. Following the completion of the sale, the director now directly owns 5,939 shares of the company's stock, valued at $135,824.93. This represents a 38.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.45% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Robert W. Baird reiterated a "neutral" rating and issued a $25.00 price objective (down from $31.00) on shares of Gentex in a research report on Tuesday, April 15th. UBS Group cut their price objective on shares of Gentex from $29.00 to $21.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. JPMorgan Chase & Co. cut their price objective 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. Guggenheim cut their price objective on shares of Gentex from $30.00 to $24.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, Baird R W downgraded shares of Gentex from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $28.31.

Gentex Stock Down 2.1%

Shares of GNTX stock traded down $0.48 during trading hours on Tuesday, reaching $22.56. 2,081,470 shares of the stock traded hands, compared to its average volume of 1,789,686. The firm has a market capitalization of $5.07 billion, a PE ratio of 12.82, a PEG ratio of 0.84 and a beta of 0.85. The business has a fifty day moving average price of $22.47 and a 200 day moving average price of $25.98. Gentex Co. has a 1-year low of $20.28 and a 1-year high of $35.32.

Gentex (NASDAQ:GNTX - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The auto parts company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The company 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%. Gentex's quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.47 EPS. Research analysts expect that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Wednesday, April 9th. Gentex's dividend payout ratio is currently 28.07%.

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.