Gentex Co. (GNTX) Holdings Reduced by Gideon Capital Advisors Inc.

Gideon Capital Advisors Inc. reduced its holdings in Gentex Co. (NASDAQ:GNTX) by 61.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 9,491 shares of the auto parts company’s stock after selling 15,213 shares during the period. Gideon Capital Advisors Inc.’s holdings in Gentex were worth $204,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Independent Advisor Alliance boosted its stake in Gentex by 21.5% in the 3rd quarter. Independent Advisor Alliance now owns 16,504 shares of the auto parts company’s stock valued at $341,000 after buying an additional 2,918 shares in the last quarter. Boston Private Wealth LLC boosted its stake in Gentex by 5.8% in the 3rd quarter. Boston Private Wealth LLC now owns 41,942 shares of the auto parts company’s stock valued at $900,000 after buying an additional 2,285 shares in the last quarter. Freestone Capital Holdings LLC boosted its stake in Gentex by 39.6% in the 3rd quarter. Freestone Capital Holdings LLC now owns 149,564 shares of the auto parts company’s stock valued at $3,209,000 after buying an additional 42,452 shares in the last quarter. Schroder Investment Management Group boosted its stake in Gentex by 19.0% in the 3rd quarter. Schroder Investment Management Group now owns 3,611,322 shares of the auto parts company’s stock valued at $77,499,000 after buying an additional 576,800 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Gentex by 42.8% in the 3rd quarter. Canada Pension Plan Investment Board now owns 833,400 shares of the auto parts company’s stock valued at $17,885,000 after buying an additional 249,600 shares in the last quarter. 85.83% of the stock is currently owned by institutional investors.

Gentex stock opened at $22.52 on Monday. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 1.24 and a beta of 1.13. Gentex Co. has a 52 week low of $17.80 and a 52 week high of $25.41.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, October 19th. The auto parts company reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. The company had revenue of $460.25 million for the quarter, compared to analyst estimates of $465.51 million. Gentex had a return on equity of 21.83% and a net margin of 25.11%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 earnings per share. Sell-side analysts expect that Gentex Co. will post 1.65 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 23rd. Shareholders of record on Wednesday, January 9th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Tuesday, January 8th. Gentex’s dividend payout ratio is currently 34.38%.

GNTX has been the topic of several recent analyst reports. ValuEngine raised Gentex from a “sell” rating to a “hold” rating in a research note on Monday, October 22nd. Craig Hallum reaffirmed a “hold” rating and issued a $20.00 price target on shares of Gentex in a research note on Friday, October 19th. Zacks Investment Research lowered Gentex from a “hold” rating to a “sell” rating in a research note on Tuesday, September 18th. BidaskClub lowered Gentex from a “buy” rating to a “hold” rating in a research note on Wednesday, September 5th. Finally, Longbow Research set a $28.00 price target on Gentex and gave the company a “buy” rating in a research note on Friday, August 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $24.50.

In other Gentex news, CFO Kevin C. Nash sold 6,000 shares of the business’s stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $21.50, for a total value of $129,000.00. Following the transaction, the chief financial officer now owns 32,732 shares of the company’s stock, valued at $703,738. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders acquired 1,155 shares of company stock worth $23,237. Insiders own 0.60% of the company’s stock.

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About Gentex

Gentex Corporation provides automatic-dimming and non-dimming rearview mirrors, and electronics for the automotive industry; dimmable aircraft windows for the aviation industry; and commercial smoke alarms and signaling devices for the fire protection industry worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and interior and exterior non-automatic-dimming rearview mirrors with electronic features for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.

See Also: Cost of Equity

Want to see what other hedge funds are holding GNTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gentex Co. (NASDAQ:GNTX).

Institutional Ownership by Quarter for Gentex (NASDAQ:GNTX)

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