Gentex Co. (NASDAQ:GNTX) Shares Sold by Birch Hill Investment Advisors LLC

Birch Hill Investment Advisors LLC lessened its holdings in Gentex Co. (NASDAQ:GNTX) by 12.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 545,668 shares of the auto parts company’s stock after selling 79,265 shares during the period. Birch Hill Investment Advisors LLC owned approximately 0.24% of Gentex worth $16,201,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of GNTX. Scharf Investments LLC boosted its position in shares of Gentex by 36,001.4% during the 2nd quarter. Scharf Investments LLC now owns 2,278,357 shares of the auto parts company’s stock worth $76,803,000 after acquiring an additional 2,272,046 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Gentex by 27.9% in the 4th quarter. Wellington Management Group LLP now owns 8,728,378 shares of the auto parts company’s stock valued at $285,069,000 after purchasing an additional 1,905,356 shares during the period. TD Asset Management Inc boosted its position in shares of Gentex by 41.2% in the 1st quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock valued at $168,957,000 after purchasing an additional 1,363,898 shares during the period. Motley Fool Asset Management LLC boosted its position in shares of Gentex by 287.7% in the 1st quarter. Motley Fool Asset Management LLC now owns 1,204,152 shares of the auto parts company’s stock valued at $43,494,000 after purchasing an additional 893,552 shares during the period. Finally, Leeward Investments LLC MA acquired a new stake in shares of Gentex in the 1st quarter valued at about $28,289,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Trading Up 0.3 %

Shares of GNTX stock opened at $29.32 on Friday. The company has a market cap of $6.78 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92. The stock has a 50 day simple moving average of $29.78 and a 200-day simple moving average of $32.64. Gentex Co. has a 12-month low of $27.86 and a 12-month high of $37.58.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, July 26th. The auto parts company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.15). Gentex had a net margin of 17.87% and a return on equity of 17.78%. The firm had revenue of $572.93 million during the quarter, compared to analysts’ expectations of $623.28 million. On average, equities analysts forecast that Gentex Co. will post 1.96 earnings per share for the current fiscal year.

Gentex Announces Dividend

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 $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Wednesday, October 9th. Gentex’s payout ratio is currently 25.40%.

Analysts Set New Price Targets

A number of analysts have weighed in on GNTX shares. The Goldman Sachs Group decreased their price objective on Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. Robert W. Baird decreased their price objective on Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. BNP Paribas cut Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research report on Tuesday, July 30th. B. Riley decreased their price objective on Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Monday, July 29th. Finally, UBS Group started coverage on Gentex in a research report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $36.29.

Insider Activity at Gentex

In related news, major shareholder Corp Gentex purchased 3,152,500 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was bought at an average price of $5.00 per share, with a total value of $15,762,500.00. Following the completion of the transaction, the insider now owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is currently owned by company insiders.

Gentex 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.