Insider Selling: Gentex (NASDAQ:GNTX) CFO Sells $296,887.30 in Stock

Gentex Corporation (NASDAQ:GNTX) CFO Kevin Nash sold 11,885 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $24.98, for a total value of $296,887.30. Following the transaction, the chief financial officer owned 59,430 shares of the company’s stock, valued at $1,484,561.40. This represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Gentex Price Performance

Shares of NASDAQ GNTX opened at $23.97 on Friday. Gentex Corporation has a 1-year low of $20.28 and a 1-year high of $29.38. The business’s 50 day moving average is $23.92 and its two-hundred day moving average is $25.17. The stock has a market capitalization of $5.25 billion, a P/E ratio of 13.78 and a beta of 0.78.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, January 30th. The auto parts company reported $0.43 EPS for the quarter, hitting analysts’ consensus estimates of $0.43. The firm had revenue of $644.40 million during the quarter, compared to analysts’ expectations of $650.90 million. Gentex had a return on equity of 16.05% and a net margin of 15.19%.The company’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 EPS. As a group, equities research analysts anticipate that Gentex Corporation 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, January 21st. Shareholders of record on Wednesday, January 7th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, January 7th. This represents a $0.48 dividend on an annualized basis and a yield of 2.0%. Gentex’s payout ratio is 27.59%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GNTX shares. The Goldman Sachs Group set a $27.00 price target on shares of Gentex and gave the company a “neutral” rating in a report on Monday, October 27th. Robert W. Baird set a $26.00 target price on Gentex in a research note on Wednesday, January 14th. B. Riley Financial reduced their price target on Gentex from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Gentex in a report on Thursday, January 22nd. Finally, UBS Group set a $25.00 target price on Gentex in a research note on Monday, February 2nd. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Gentex currently has an average rating of “Hold” and an average price target of $26.71.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Clearstead Advisors LLC raised its position in Gentex by 21.4% during the 4th quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company’s stock valued at $58,000 after purchasing an additional 437 shares in the last quarter. Gagnon Securities LLC raised its holdings in shares of Gentex by 0.8% in the fourth quarter. Gagnon Securities LLC now owns 55,672 shares of the auto parts company’s stock valued at $1,295,000 after acquiring an additional 458 shares in the last quarter. CWM LLC raised its holdings in shares of Gentex by 5.1% in the third quarter. CWM LLC now owns 9,648 shares of the auto parts company’s stock valued at $273,000 after acquiring an additional 467 shares in the last quarter. Arizona State Retirement System lifted its stake in Gentex by 0.7% in the third quarter. Arizona State Retirement System now owns 66,519 shares of the auto parts company’s stock worth $1,882,000 after acquiring an additional 487 shares during the period. Finally, First Citizens Bank & Trust Co. grew its holdings in Gentex by 1.9% during the 4th quarter. First Citizens Bank & Trust Co. now owns 29,807 shares of the auto parts company’s stock worth $694,000 after acquiring an additional 559 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Gentex Company Profile

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).