Dumont & Blake Investment Advisors LLC Lowers Position in Gentex Co. (NASDAQ:GNTX)

Dumont & Blake Investment Advisors LLC cut its stake in Gentex Co. (NASDAQ:GNTX) by 50.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 23,450 shares of the auto parts company’s stock after selling 23,470 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in Gentex were worth $696,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Quest Partners LLC bought a new position in Gentex during the second quarter valued at $31,000. Gladius Capital Management LP bought a new position in shares of Gentex in the second quarter worth $34,000. EverSource Wealth Advisors LLC raised its position in shares of Gentex by 173.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock worth $42,000 after buying an additional 850 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of 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 buying an additional 1,269 shares in the last quarter. Finally, HHM Wealth Advisors LLC purchased a new stake in shares of Gentex in the second quarter worth $67,000. 86.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GNTX. Robert W. Baird reduced their price objective on Gentex from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. The Goldman Sachs Group reduced their price target on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. StockNews.com downgraded Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. B. Riley reduced their target price on Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. cut their price target on Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $36.13.

Gentex Price Performance

Shares of NASDAQ GNTX opened at $31.25 on Friday. The company has a market cap of $7.22 billion, a P/E ratio of 16.53, a PEG ratio of 0.95 and a beta of 0.92. Gentex Co. has a 1 year low of $27.86 and a 1 year high of $37.58. The firm has a 50-day simple moving average of $29.90 and a two-hundred day simple moving average of $32.25.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, July 26th. The auto parts company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.15). The firm had revenue of $572.93 million during the quarter, compared to analysts’ expectations of $623.28 million. Gentex had a net margin of 17.87% and a return on equity of 17.78%. As a group, equities research analysts expect that Gentex Co. will post 1.96 EPS for the current year.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Wednesday, October 9th. Gentex’s payout ratio is presently 25.40%.

Insider Activity at Gentex

In other news, major shareholder Corp Gentex bought 3,152,500 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average cost of $5.00 per share, with a total value of $15,762,500.00. Following the transaction, the insider now directly owns 6,463,808 shares in the company, valued at approximately $32,319,040. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.41% of the stock is owned by insiders.

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.