Legacy Trust Sells 19,629 Shares of Gentex Co. (NASDAQ:GNTX)

Legacy Trust trimmed its position in Gentex Co. (NASDAQ:GNTX - Free Report) by 19.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,583 shares of the auto parts company's stock after selling 19,629 shares during the period. Legacy Trust's holdings in Gentex were worth $2,401,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Gentex by 227.8% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company's stock worth $54,000 after acquiring an additional 1,269 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Gentex during the 3rd quarter worth approximately $125,000. GAMMA Investing LLC raised its stake in shares of Gentex by 159.1% in the fourth quarter. GAMMA Investing LLC now owns 5,133 shares of the auto parts company's stock worth $147,000 after purchasing an additional 3,152 shares during the last quarter. KBC Group NV lifted its holdings in shares of 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 purchasing an additional 667 shares in the last quarter. Finally, Atomi Financial Group Inc. bought a new position in shares of Gentex in the fourth quarter valued at approximately $220,000. 86.76% of the stock is owned by institutional investors and hedge funds.

Gentex Stock Performance

GNTX traded down $2.30 during midday trading on Friday, reaching $25.92. The company had a trading volume of 5,024,365 shares, compared to its average volume of 1,773,118. The business has a 50-day moving average price of $29.03 and a two-hundred day moving average price of $29.88. Gentex Co. has a 12-month low of $25.10 and a 12-month high of $37.58. The stock has a market cap of $5.89 billion, a PE ratio of 13.86, a P/E/G ratio of 0.92 and a beta of 0.91.

Gentex (NASDAQ:GNTX - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The auto parts company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.10). Gentex had a net margin of 18.37% and a return on equity of 18.25%. During the same period in the prior year, the business earned $0.50 EPS. On average, research analysts anticipate that Gentex Co. will post 1.86 earnings per share for the current year.

Gentex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Wednesday, January 8th. Gentex's dividend payout ratio is currently 25.67%.

Analysts Set New Price Targets

A number of research firms recently commented on GNTX. Bank of America lowered their price target on Gentex from $39.00 to $35.00 and set a "neutral" rating for the company in a research report on Monday, October 14th. Robert W. Baird raised their price target on shares of Gentex from $35.00 to $37.00 and gave the company an "outperform" rating in a research report on Monday, October 28th. Finally, Guggenheim reduced their price objective on shares of Gentex from $35.00 to $34.00 and set a "buy" rating for the company in a research report 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 presently has a consensus rating of "Hold" and a consensus target price of $35.13.

Gentex Profile

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.