SVB Wealth LLC Sells 1,117 Shares of Gentex Co. (NASDAQ:GNTX)

SVB Wealth LLC cut its stake in Gentex Co. (NASDAQ:GNTX) by 6.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,597 shares of the auto parts company’s stock after selling 1,117 shares during the quarter. SVB Wealth LLC’s holdings in Gentex were worth $563,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of GNTX. PNC Financial Services Group Inc. boosted its position in shares of Gentex by 129.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 111,827 shares of the auto parts company’s stock valued at $3,652,000 after acquiring an additional 63,152 shares during the period. TD Asset Management Inc grew its position in shares of Gentex by 58.1% during the 4th quarter. TD Asset Management Inc now owns 3,313,757 shares of the auto parts company’s stock valued at $108,227,000 after purchasing an additional 1,217,278 shares in the last quarter. Thematics Asset Management increased its holdings in shares of Gentex by 51.2% in the fourth quarter. Thematics Asset Management now owns 523,207 shares of the auto parts company’s stock worth $17,088,000 after purchasing an additional 177,207 shares during the period. Vanguard Group Inc. raised its position in shares of Gentex by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 22,280,716 shares of the auto parts company’s stock worth $727,688,000 after buying an additional 163,373 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in Gentex by 15.7% during the first quarter. Janney Montgomery Scott LLC now owns 411,535 shares of the auto parts company’s stock valued at $14,865,000 after buying an additional 55,748 shares during the period. Institutional investors own 86.76% of the company’s stock.

Insider Buying and Selling

In other Gentex news, Director Joseph B. Anderson, Jr. sold 4,716 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $34.46, for a total transaction of $162,513.36. Following the completion of the transaction, the director now owns 3,764 shares of the company’s stock, valued at $129,707.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.41% of the stock is owned by insiders.

Gentex Trading Up 0.5 %

Shares of NASDAQ:GNTX traded up $0.15 during trading on Monday, reaching $31.35. 2,269,998 shares of the company traded hands, compared to its average volume of 1,404,474. Gentex Co. has a 52-week low of $27.86 and a 52-week high of $37.58. The business’s fifty day moving average is $33.97 and its 200-day moving average is $34.56. The firm has a market capitalization of $7.25 billion, a price-to-earnings ratio of 16.59, a P/E/G ratio of 0.90 and a beta of 0.93.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, April 26th. The auto parts company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). Gentex had a return on equity of 17.78% and a net margin of 17.87%. The business had revenue of $590.23 million during the quarter, compared to analysts’ expectations of $600.38 million. During the same quarter last year, the business posted $0.42 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts predict that Gentex Co. will post 2.09 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 17th. Shareholders of record on Friday, July 5th were issued a $0.12 dividend. The ex-dividend date was Friday, July 5th. This represents a $0.48 annualized dividend and a yield of 1.53%. Gentex’s dividend payout ratio (DPR) is presently 25.40%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GNTX shares. Robert W. Baird dropped their price target on Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Monday. B. Riley decreased their price target on shares of Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Monday. JPMorgan Chase & Co. lowered their price objective on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. StockNews.com lowered shares of Gentex from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. Finally, Guggenheim raised their price target on Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Gentex has a consensus rating of “Moderate Buy” and an average target price of $38.00.

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.