Insider Selling: Gentex Co. (NASDAQ:GNTX) SVP Sells $14,937.00 in Stock

Gentex Co. (NASDAQ:GNTX) SVP Jae Kim sold 1,149 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $13.00, for a total transaction of $14,937.00. Following the completion of the sale, the senior vice president now directly owns 132,877 shares in the company, valued at approximately $1,727,401. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shares of NASDAQ GNTX traded up $0.14 on Friday, hitting $27.28. The company’s stock had a trading volume of 1,321,932 shares, compared to its average volume of 1,570,278. Gentex Co. has a 12-month low of $17.80 and a 12-month high of $27.94. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. The stock has a 50 day moving average of $26.74 and a 200-day moving average of $23.33.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, July 19th. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. The business had revenue of $468.71 million for the quarter, compared to the consensus estimate of $462.65 million. Gentex had a net margin of 23.28% and a return on equity of 23.08%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 earnings per share. On average, sell-side analysts forecast that Gentex Co. will post 1.68 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th will be paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Tuesday, October 8th. Gentex’s payout ratio is 28.40%.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sigma Planning Corp lifted its stake in shares of Gentex by 2.2% during the second quarter. Sigma Planning Corp now owns 17,943 shares of the auto parts company’s stock valued at $442,000 after buying an additional 386 shares during the period. Buckhead Capital Management LLC lifted its stake in shares of Gentex by 0.3% during the second quarter. Buckhead Capital Management LLC now owns 136,183 shares of the auto parts company’s stock valued at $3,351,000 after buying an additional 405 shares during the period. BancorpSouth Bank lifted its stake in shares of Gentex by 2.3% during the second quarter. BancorpSouth Bank now owns 23,799 shares of the auto parts company’s stock valued at $585,000 after buying an additional 534 shares during the period. Hammer Asset Management LLC lifted its stake in shares of Gentex by 0.4% during the second quarter. Hammer Asset Management LLC now owns 149,969 shares of the auto parts company’s stock valued at $3,691,000 after buying an additional 543 shares during the period. Finally, Parallel Advisors LLC lifted its stake in shares of Gentex by 23.7% during the first quarter. Parallel Advisors LLC now owns 2,857 shares of the auto parts company’s stock valued at $59,000 after buying an additional 547 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

GNTX has been the topic of several recent research reports. Longbow Research reaffirmed a “hold” rating on shares of Gentex in a report on Sunday, July 7th. ValuEngine downgraded shares of Gentex from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research raised shares of Gentex from a “sell” rating to a “hold” rating and set a $28.00 price target on the stock in a report on Tuesday, July 23rd. BidaskClub raised shares of Gentex from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, B. Riley set a $29.00 price target on shares of Gentex and gave the company a “buy” rating in a report on Friday, July 19th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Gentex currently has a consensus rating of “Hold” and an average target price of $23.66.

About Gentex

Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It designs, develops, manufactures, and markets 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, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.

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