Insider Selling: Gentex (NASDAQ:GNTX) CTO Sells $279,175.36 in Stock

Gentex Corporation (NASDAQ:GNTX) CTO Neil Boehm sold 11,248 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $24.82, for a total value of $279,175.36. Following the sale, the chief technology officer owned 58,951 shares of the company’s stock, valued at $1,463,163.82. The trade was a 16.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Gentex Stock Performance

Gentex stock opened at $23.97 on Friday. Gentex Corporation has a 52 week low of $20.28 and a 52 week high of $29.38. The stock has a market capitalization of $5.25 billion, a P/E ratio of 13.78 and a beta of 0.78. The stock has a fifty day moving average of $23.92 and a 200-day moving average of $25.17.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, January 30th. The auto parts company reported $0.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.43. The firm had revenue of $644.40 million for 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 business’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 earnings per share. On average, research analysts forecast that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Wednesday, January 7th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, January 7th. This represents a $0.48 annualized dividend and a yield of 2.0%. Gentex’s dividend payout ratio is presently 27.59%.

Hedge Funds Weigh In On Gentex

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its position in Gentex by 33.1% during the 1st quarter. Royal Bank of Canada now owns 189,561 shares of the auto parts company’s stock valued at $4,418,000 after purchasing an additional 47,150 shares during the period. Goldman Sachs Group Inc. raised its stake in Gentex by 1.8% during 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 during the last quarter. Empowered Funds LLC raised its stake in Gentex by 255.6% during 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 during the last quarter. Stephens Inc. AR acquired a new position in Gentex in the second quarter valued at $309,000. Finally, Bleakley Financial Group LLC boosted its position in Gentex by 5.5% during the second quarter. Bleakley Financial Group LLC now owns 31,816 shares of the auto parts company’s stock valued at $700,000 after acquiring an additional 1,671 shares during the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on GNTX shares. UBS Group set a $25.00 price target on Gentex in a research note on Monday, February 2nd. Robert W. Baird set a $26.00 target price on Gentex in a research report on Wednesday, January 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Gentex in a research note on Thursday, January 22nd. The Goldman Sachs Group set a $27.00 price objective on Gentex and gave the company a “neutral” rating in a research note on Monday, October 27th. Finally, B. Riley Financial cut their target price on shares of Gentex from $32.00 to $28.00 and set a “buy” rating on the stock in a research report 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 stock. Based on data from MarketBeat, Gentex has a consensus rating of “Hold” and a consensus target price of $26.71.

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).