Valley National Advisers Inc. Sells 18,957 Shares of Gentex Co. (NASDAQ:GNTX)

Valley National Advisers Inc. trimmed its stake in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 71.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,394 shares of the auto parts company's stock after selling 18,957 shares during the period. Valley National Advisers Inc.'s holdings in Gentex were worth $218,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GNTX. Quest Partners LLC bought a new position in Gentex in the 2nd quarter worth approximately $31,000. Gladius Capital Management LP bought a new position in Gentex in the second quarter valued at about $34,000. EverSource Wealth Advisors LLC boosted its holdings in Gentex by 173.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company's stock valued at $42,000 after acquiring an additional 850 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in Gentex by 227.8% in 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 purchasing an additional 1,269 shares during the period. Finally, HHM Wealth Advisors LLC bought a new stake in Gentex during the 2nd quarter worth about $67,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Gentex Trading Up 0.2 %

Shares of NASDAQ GNTX traded up $0.05 during mid-day trading on Monday, reaching $31.30. 2,184,787 shares of the company's stock were exchanged, compared to its average volume of 1,461,417. Gentex Co. has a twelve month low of $27.86 and a twelve month high of $37.58. The firm has a market capitalization of $7.24 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 0.91 and a beta of 0.92. The business has a fifty day simple moving average of $29.95 and a 200 day simple moving average of $32.15.

Gentex (NASDAQ:GNTX - Get Free Report) last announced its quarterly earnings results on Friday, July 26th. The auto parts company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.15). The company had revenue of $572.93 million during the quarter, compared to the consensus estimate of $623.28 million. Gentex had a net margin of 17.87% and a return on equity of 17.78%. Equities research analysts predict that Gentex Co. will post 1.94 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were given a $0.12 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $0.48 annualized dividend and a yield of 1.53%. Gentex's dividend payout ratio is currently 25.40%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GNTX. Bank of America reduced their target price on shares of Gentex from $39.00 to $35.00 and set a "neutral" rating on the stock in a research note on Monday, October 14th. The Goldman Sachs Group lowered their target price on shares of Gentex from $33.00 to $31.00 and set a "neutral" rating for the company in a report on Tuesday, October 1st. StockNews.com downgraded Gentex from a "buy" rating to a "hold" rating in a research note on Thursday, July 4th. BNP Paribas cut Gentex from an "outperform" rating to a "neutral" rating and set a $34.00 price objective for the company. in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. reduced their target price on Gentex from $36.00 to $35.00 and set a "neutral" rating on the stock in a report on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Gentex has a consensus rating of "Hold" and a consensus target price of $36.00.

Insider Buying and Selling

In other news, major shareholder Corp Gentex purchased 3,152,500 shares of the company's stock in a transaction on Friday, August 23rd. The shares were purchased at an average price of $5.00 per share, with a total value of $15,762,500.00. Following the purchase, the insider now directly owns 6,463,808 shares of the company's stock, valued at $32,319,040. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.41% of the company's stock.

Gentex Company 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.