Truist Financial Corp Sells 40,274 Shares of Gentex Co. (NASDAQ:GNTX)

Truist Financial Corp lowered its holdings in Gentex Co. (NASDAQ:GNTX - Free Report) by 15.6% in the 4th quarter, according to 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 period. Truist Financial Corp owned approximately 0.10% of Gentex worth $6,238,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Synergy Asset Management LLC bought a new position in Gentex during the fourth quarter worth $34,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Gentex by 32.5% during 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 purchasing an additional 593 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Gentex during the third quarter valued at $125,000. GAMMA Investing LLC grew its holdings in Gentex by 159.1% in the 4th quarter. GAMMA Investing LLC now owns 5,133 shares of the auto parts company's stock worth $147,000 after buying an additional 3,152 shares in the last quarter. Finally, KBC Group NV increased its position in Gentex by 13.3% in the 3rd quarter. KBC Group NV now owns 5,664 shares of the auto parts company's stock valued at $168,000 after acquiring an additional 667 shares during the period. 86.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GNTX shares. UBS Group cut their target price on Gentex from $30.00 to $29.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. cut their price objective on Gentex from $34.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. Robert W. Baird set a $31.00 price objective on Gentex in a research report on Monday, February 3rd. B. Riley reaffirmed a "buy" rating and set a $32.50 price objective (down previously from $37.00) on shares of Gentex in a research report on Monday, February 3rd. Finally, Guggenheim cut their price target on shares of Gentex from $35.00 to $34.00 and set a "buy" rating for the company in a research note on Thursday, November 21st. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Gentex has an average rating of "Hold" and a consensus price target of $32.31.

Gentex Price Performance

Shares of GNTX traded down $0.35 during trading hours on Wednesday, hitting $24.33. The company's stock had a trading volume of 468,231 shares, compared to its average volume of 1,886,901. Gentex Co. has a 52-week low of $24.10 and a 52-week high of $37.58. The business has a 50 day simple moving average of $26.99 and a two-hundred day simple moving average of $28.99. The company has a market cap of $5.53 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.84 and a beta of 0.91.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The auto parts company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.10). Gentex had a return on equity of 16.74% and a net margin of 17.49%. During the same quarter in the prior year, the business earned $0.50 earnings per share. Research analysts predict that Gentex Co. will post 2.04 earnings per share for the current year.

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.