US Bancorp DE Lowers Position in Gentex Co. (NASDAQ:GNTX)

US Bancorp DE lowered its holdings in Gentex Co. (NASDAQ:GNTX - Free Report) by 30.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,178 shares of the auto parts company's stock after selling 24,740 shares during the period. US Bancorp DE's holdings in Gentex were worth $2,065,000 at the end of the most recent reporting period.

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Other institutional investors and hedge funds have also recently modified their holdings of the company. Neo Ivy Capital Management purchased a new stake in shares of Gentex in the 4th quarter valued at about $29,000. National Bank of Canada FI raised its holdings in shares of Gentex by 159.1% during the 4th quarter. National Bank of Canada FI now owns 930 shares of the auto parts company's stock valued at $30,000 after buying an additional 571 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Gentex during the 4th quarter valued at about $46,000. Global Retirement Partners LLC raised its holdings in shares of Gentex by 371.3% during the 4th quarter. Global Retirement Partners LLC now owns 2,738 shares of the auto parts company's stock valued at $89,000 after buying an additional 2,157 shares in the last quarter. Finally, Natixis Investment Managers International raised its holdings in shares of Gentex by 34.0% during the 4th quarter. Natixis Investment Managers International now owns 3,395 shares of the auto parts company's stock valued at $111,000 after buying an additional 861 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GNTX shares. StockNews.com cut Gentex from a "buy" rating to a "hold" rating in a report on Thursday, July 4th. Robert W. Baird decreased their price objective on Gentex from $41.00 to $40.00 and set an "outperform" rating on the stock in a report on Friday, July 12th. Finally, Guggenheim raised their price objective on Gentex from $40.00 to $41.00 and gave the company a "buy" rating in a report on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Gentex presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.40.

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Check Out Our Latest Report on Gentex

Insider Transactions at Gentex

In other news, Director Joseph B. Anderson, Jr. sold 4,716 shares of Gentex stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $34.46, for a total value of $162,513.36. Following the sale, the director now directly owns 3,764 shares in the company, valued at approximately $129,707.44. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.41% of the company's stock.

Gentex Price Performance

GNTX opened at $33.32 on Friday. The stock's 50 day simple moving average is $34.19 and its 200 day simple moving average is $34.49. 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 $7.70 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 0.97 and a beta of 0.93.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its quarterly earnings results on Friday, April 26th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). Gentex had a return on equity of 19.19% and a net margin of 18.77%. The company had revenue of $590.23 million for the quarter, compared to the consensus estimate of $600.38 million. During the same quarter in the previous year, the business earned $0.42 earnings per share. Gentex's revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Gentex Co. will post 2.11 EPS for the current year.

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 17th. Stockholders of record on Friday, July 5th were given a $0.12 dividend. The ex-dividend date was Friday, July 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.44%. Gentex's dividend payout ratio is currently 25.40%.

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.

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