Hendershot Investments Inc. Sells 43,545 Shares of Gentex Corporation $GNTX

Hendershot Investments Inc. cut its holdings in Gentex Corporation (NASDAQ:GNTX) by 9.0% during the 4th quarter, Holdings Channel reports. The fund owned 442,741 shares of the auto parts company’s stock after selling 43,545 shares during the period. Gentex comprises 1.3% of Hendershot Investments Inc.’s portfolio, making the stock its 23rd biggest holding. Hendershot Investments Inc.’s holdings in Gentex were worth $10,303,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GNTX. Royal Bank of Canada raised its position in Gentex by 33.1% in the first quarter. Royal Bank of Canada now owns 189,561 shares of the auto parts company’s stock worth $4,418,000 after acquiring an additional 47,150 shares during the period. Goldman Sachs Group Inc. raised its position in Gentex by 1.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,321,634 shares of the auto parts company’s stock worth $30,794,000 after acquiring an additional 23,454 shares during the period. Empowered Funds LLC raised its position in Gentex by 255.6% in the first quarter. Empowered Funds LLC now owns 81,142 shares of the auto parts company’s stock worth $1,891,000 after acquiring an additional 58,323 shares during the period. Invesco Ltd. raised its position in shares of Gentex by 8.0% during the 2nd quarter. Invesco Ltd. now owns 813,163 shares of the auto parts company’s stock valued at $17,881,000 after purchasing an additional 60,127 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of Gentex by 2,038.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,512 shares of the auto parts company’s stock valued at $99,000 after purchasing an additional 4,301 shares during the period. 86.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on GNTX shares. B. Riley Financial decreased their price objective on shares of Gentex from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd. Freedom Capital upgraded shares of Gentex to a “strong-buy” rating in a research report on Friday, March 27th. Weiss Ratings restated a “hold (c)” rating on shares of Gentex in a research report on Thursday, January 22nd. UBS Group restated a “neutral” rating and set a $24.00 price objective (down from $25.00) on shares of Gentex in a research report on Tuesday. Finally, Wall Street Zen upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research report on Sunday, March 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $26.57.

Insider Activity at Gentex

In related news, CEO Steven R. Downing sold 35,000 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $24.75, for a total transaction of $866,250.00. Following the completion of the transaction, the chief executive officer directly owned 211,670 shares of the company’s stock, valued at approximately $5,238,832.50. This trade represents a 14.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Neil Boehm sold 11,248 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $24.82, for a total transaction of $279,175.36. Following the transaction, the chief technology officer directly owned 58,951 shares of the company’s stock, valued at $1,463,163.82. The trade was a 16.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 58,133 shares of company stock valued at $1,442,313. Corporate insiders own 0.45% of the company’s stock.

Gentex Price Performance

Shares of GNTX stock opened at $21.82 on Friday. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 12.54 and a beta of 0.77. The company’s fifty day moving average price is $22.50 and its 200-day moving average price is $23.56. Gentex Corporation has a one year low of $20.48 and a one year high of $29.38.

Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, January 30th. The auto parts company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $644.40 million during the quarter, compared to analysts’ expectations of $650.90 million. Gentex had a net margin of 15.19% and a return on equity of 16.05%. Gentex’s quarterly revenue was up 19.0% on a year-over-year basis. During the same period last year, the company posted $0.39 earnings per share. Equities research analysts expect that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 8th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, April 8th. Gentex’s dividend payout ratio (DPR) is presently 27.59%.

About Gentex

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).