Gentex Co. (NASDAQ:GNTX) Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its position in Gentex Co. (NASDAQ:GNTX) by 15.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 217,142 shares of the auto parts company’s stock after selling 40,274 shares during the quarter. Truist Financial Corp’s holdings in Gentex were worth $6,238,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC raised its stake in Gentex by 6.0% in the 4th quarter. Sanctuary Advisors LLC now owns 12,994 shares of the auto parts company’s stock valued at $367,000 after purchasing an additional 731 shares during the last quarter. Allworth Financial LP raised its stake in Gentex by 956.6% in the 4th quarter. Allworth Financial LP now owns 6,720 shares of the auto parts company’s stock valued at $188,000 after purchasing an additional 6,084 shares during the last quarter. Rhumbline Advisers raised its stake in Gentex by 0.3% in the 4th quarter. Rhumbline Advisers now owns 691,419 shares of the auto parts company’s stock valued at $19,864,000 after purchasing an additional 2,148 shares during the last quarter. Vontobel Holding Ltd. acquired a new position in Gentex in the 4th quarter valued at $210,000. Finally, Portfolio Design Labs LLC acquired a new position in Gentex in the 4th quarter valued at $202,000. 86.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GNTX has been the subject of several recent research reports. Guggenheim reduced their price objective on Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. JPMorgan Chase & Co. cut their target price on Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. UBS Group cut their target price on Gentex from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Robert W. Baird set a $31.00 target price on Gentex in a research note on Monday, February 3rd. Finally, B. Riley reaffirmed a “buy” rating and issued a $32.50 target price (down from $37.00) on shares of Gentex in a research note on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $32.31.

Gentex Trading Down 0.9 %

NASDAQ GNTX opened at $24.37 on Friday. The stock has a market cap of $5.54 billion, a PE ratio of 13.85, a P/E/G ratio of 0.84 and a beta of 0.91. Gentex Co. has a twelve month low of $24.20 and a twelve month high of $37.58. The stock has a fifty day simple moving average of $27.21 and a 200-day simple moving average of $29.04.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.10). Gentex had a return on equity of 16.74% and a net margin of 17.49%. During the same period in the previous year, the firm earned $0.50 EPS. Research analysts predict that Gentex Co. will post 2.04 EPS for the current year.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Wednesday, January 8th. Gentex’s dividend payout ratio (DPR) is 27.27%.

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.