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

Truist Financial Corp lowered its stake in shares of Gentex Co. (NASDAQ:GNTX) by 15.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 217,142 shares of the auto parts company’s stock after selling 40,274 shares during the quarter. Truist Financial Corp owned about 0.10% of Gentex worth $6,238,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Synergy Asset Management LLC acquired a new position in shares of Gentex during the fourth quarter valued at about $34,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in Gentex by 32.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,419 shares of the auto parts company’s stock valued at $70,000 after buying an additional 593 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Gentex in the third quarter valued at approximately $125,000. GAMMA Investing LLC boosted its position in Gentex by 159.1% in the fourth quarter. GAMMA Investing LLC now owns 5,133 shares of the auto parts company’s stock valued at $147,000 after buying an additional 3,152 shares during the last quarter. Finally, KBC Group NV boosted its position in Gentex by 13.3% in the third quarter. KBC Group NV now owns 5,664 shares of the auto parts company’s stock valued at $168,000 after buying an additional 667 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GNTX. B. Riley reiterated a “buy” rating and issued a $32.50 target price (down previously from $37.00) on shares of Gentex in a research report on Monday, February 3rd. JPMorgan Chase & Co. dropped their target price on Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. UBS Group dropped their target price on Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Guggenheim dropped their target price on Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Finally, Robert W. Baird set a $31.00 target price on Gentex in a research report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $32.31.

Gentex Trading Down 0.9 %

Gentex stock opened at $24.37 on Friday. Gentex Co. has a 12 month low of $24.20 and a 12 month high of $37.58. The firm 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. The stock’s 50 day simple moving average is $27.21 and its two-hundred day simple moving average is $29.04.

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

Gentex Announces Dividend

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

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.