West Michigan Advisors LLC Reduces Holdings in Gentex Co. (NASDAQ:GNTX)

West Michigan Advisors LLC lessened its stake in Gentex Co. (NASDAQ:GNTX) by 0.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,845,528 shares of the auto parts company’s stock after selling 3,153 shares during the period. Gentex accounts for approximately 16.5% of West Michigan Advisors LLC’s investment portfolio, making the stock its largest holding. West Michigan Advisors LLC owned about 0.80% of Gentex worth $54,794,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GNTX. Quest Partners LLC purchased a new stake in shares of Gentex during the 2nd quarter valued at $31,000. Gladius Capital Management LP purchased a new stake in Gentex in the second quarter valued at about $34,000. EverSource Wealth Advisors LLC boosted its holdings in Gentex by 173.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock worth $42,000 after acquiring an additional 850 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Gentex by 227.8% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock worth $54,000 after acquiring an additional 1,269 shares during the last quarter. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Gentex during the second quarter valued at about $67,000. 86.76% of the stock is currently owned by institutional investors.

Insider Activity

In related news, major shareholder Corp Gentex purchased 3,152,500 shares of Gentex stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the transaction, the insider now directly owns 6,463,808 shares in the company, valued at approximately $32,319,040. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

GNTX has been the topic of several research analyst reports. Robert W. Baird dropped their target price on shares of Gentex from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. B. Riley cut their target price on Gentex from $44.00 to $41.00 and set a “buy” rating on the stock 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 target for the company. in a research report on Tuesday, July 30th. Bank of America dropped their price target on Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. decreased their target price on Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.13.

Gentex Price Performance

NASDAQ:GNTX opened at $29.66 on Friday. The company has a 50 day moving average price of $29.90 and a 200-day moving average price of $32.27. Gentex Co. has a 1-year low of $27.86 and a 1-year high of $37.58. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92.

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

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.62%. Gentex’s dividend payout ratio (DPR) is 25.40%.

Gentex Company 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.