Motley Fool Wealth Management LLC Trims Position in Gentex Co. (NASDAQ:GNTX)

Motley Fool Wealth Management LLC lessened its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 306,005 shares of the auto parts company’s stock after selling 3,471 shares during the period. Motley Fool Wealth Management LLC owned approximately 0.13% of Gentex worth $9,987,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in GNTX. Merit Financial Group LLC purchased a new position in shares of Gentex during the 3rd quarter worth $618,000. IFG Advisory LLC grew its stake in shares of Gentex by 85.1% in the fourth quarter. IFG Advisory LLC now owns 129,203 shares of the auto parts company’s stock worth $4,220,000 after acquiring an additional 59,407 shares in the last quarter. New York Life Investment Management LLC increased its position in shares of Gentex by 112.3% during the third quarter. New York Life Investment Management LLC now owns 24,876 shares of the auto parts company’s stock worth $809,000 after acquiring an additional 13,161 shares during the period. Cumberland Partners Ltd raised its stake in shares of Gentex by 104.1% in the fourth quarter. Cumberland Partners Ltd now owns 184,655 shares of the auto parts company’s stock valued at $6,030,000 after acquiring an additional 94,195 shares in the last quarter. Finally, Jump Financial LLC boosted its holdings in Gentex by 130.7% in the third quarter. Jump Financial LLC now owns 123,805 shares of the auto parts company’s stock valued at $4,029,000 after purchasing an additional 70,138 shares during the period. 86.76% of the stock is owned by institutional investors and hedge funds.

Gentex Price Performance

GNTX stock traded up $0.06 on Friday, reaching $34.71. 2,150,577 shares of the company were exchanged, compared to its average volume of 1,224,465. The stock’s fifty day moving average price is $35.67 and its 200 day moving average price is $33.09. Gentex Co. has a 12 month low of $25.85 and a 12 month high of $37.58. The firm has a market capitalization of $8.03 billion, a PE ratio of 18.86, a PEG ratio of 0.73 and a beta of 0.99.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, April 26th. The auto parts company reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. The business had revenue of $590.23 million for the quarter, compared to the consensus estimate of $600.38 million. Gentex had a return on equity of 19.25% and a net margin of 18.63%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 EPS. As a group, research analysts expect that Gentex Co. will post 2.17 EPS for the current fiscal year.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Friday, April 5th were given a $0.12 dividend. The ex-dividend date was Thursday, April 4th. This represents a $0.48 annualized dividend and a yield of 1.38%. Gentex’s dividend payout ratio is presently 26.09%.

Insider Activity

In other Gentex news, Director Richard O. Schaum sold 6,022 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $33.93, for a total value of $204,326.46. Following the completion of the transaction, the director now directly owns 62,555 shares in the company, valued at approximately $2,122,491.15. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Gentex news, Director Richard O. Schaum sold 6,022 shares of Gentex stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $33.93, for a total transaction of $204,326.46. Following the transaction, the director now owns 62,555 shares of the company’s stock, valued at approximately $2,122,491.15. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kevin C. Nash sold 13,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total transaction of $446,040.00. Following the completion of the transaction, the chief financial officer now directly owns 44,321 shares of the company’s stock, valued at $1,464,365.84. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GNTX has been the topic of several analyst reports. Guggenheim raised their target price on shares of Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. B. Riley upped their target price on Gentex from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group raised their price target on Gentex from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, January 29th. StockNews.com upgraded shares of Gentex from a “hold” rating to a “buy” rating in a report on Friday, February 23rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Gentex from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.83.

Gentex Company 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.