Gentex Co. (NASDAQ:GNTX) Shares Sold by American International Group Inc.

American International Group Inc. lowered its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 308,768 shares of the auto parts company’s stock after selling 6,313 shares during the period. American International Group Inc. owned about 0.13% of Gentex worth $11,153,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Neo Ivy Capital Management acquired a new position in shares of Gentex during the 4th quarter worth approximately $29,000. National Bank of Canada FI raised its holdings in shares of Gentex by 159.1% in the fourth quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock worth $30,000 after acquiring an additional 571 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Gentex in the fourth quarter valued at $46,000. Global Retirement Partners LLC boosted its stake in shares of Gentex by 371.3% during the fourth quarter. Global Retirement Partners LLC now owns 2,738 shares of the auto parts company’s stock valued at $89,000 after acquiring an additional 2,157 shares during the last quarter. Finally, Natixis Investment Managers International boosted its stake in shares of Gentex by 34.0% during the fourth quarter. Natixis Investment Managers International now owns 3,395 shares of the auto parts company’s stock valued at $111,000 after acquiring an additional 861 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Insider Transactions at Gentex

In related news, Director Joseph B. Anderson, Jr. sold 4,716 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $34.46, for a total value of $162,513.36. Following the completion of the sale, the director now directly owns 3,764 shares of the company’s stock, valued at $129,707.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.41% of the company’s stock.

Gentex Price Performance

NASDAQ GNTX traded down $0.74 during trading hours on Wednesday, hitting $32.49. The company had a trading volume of 1,232,450 shares, compared to its average volume of 1,373,199. The firm’s 50 day moving average is $34.08 and its 200 day moving average is $34.54. The company has a market capitalization of $7.51 billion, a price-to-earnings ratio of 17.19, a P/E/G ratio of 0.93 and a beta of 0.93. Gentex Co. has a fifty-two week low of $27.86 and a fifty-two week high of $37.58.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, April 26th. The auto parts company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). The company had revenue of $590.23 million for the quarter, compared to analyst estimates of $600.38 million. Gentex had a return on equity of 19.19% and a net margin of 18.77%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm posted $0.42 earnings per share. On average, equities analysts anticipate that Gentex Co. will post 2.11 EPS for the current year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 17th. Stockholders of record on Friday, July 5th were paid a $0.12 dividend. The ex-dividend date was Friday, July 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.48%. Gentex’s dividend payout ratio (DPR) is presently 25.40%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GNTX shares. StockNews.com cut shares of Gentex from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. Robert W. Baird decreased their target price on shares of Gentex from $41.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, July 12th. Guggenheim lifted their target price on shares of Gentex from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, JPMorgan Chase & Co. reduced their price target on Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

About Gentex

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.