AlphaQuest LLC Invests $2.31 Million in Gentex Co. (NASDAQ:GNTX)

AlphaQuest LLC acquired a new position in Gentex Co. (NASDAQ:GNTX - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 80,464 shares of the auto parts company's stock, valued at approximately $2,312,000.

Other institutional investors have also made changes to their positions in the company. EdgePoint Investment Group Inc. grew its holdings in Gentex by 1.5% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 7,699,919 shares of the auto parts company's stock valued at $228,611,000 after buying an additional 111,500 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Gentex by 5.6% in the third quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company's stock worth $159,406,000 after acquiring an additional 285,802 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its position in Gentex by 5.5% during the third quarter. Disciplined Growth Investors Inc. MN now owns 4,493,914 shares of the auto parts company's stock worth $133,424,000 after acquiring an additional 234,083 shares during the period. Bank of New York Mellon Corp increased its position in Gentex by 16.1% during the fourth quarter. Bank of New York Mellon Corp now owns 2,787,311 shares of the auto parts company's stock worth $80,079,000 after acquiring an additional 386,461 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Gentex by 179.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company's stock valued at $59,404,000 after purchasing an additional 1,285,519 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Several research firms have issued reports on GNTX. JPMorgan Chase & Co. decreased their price target on shares of Gentex from $34.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday, February 3rd. UBS Group decreased their target price on Gentex from $30.00 to $29.00 and set a "neutral" rating on the stock in a research report on Monday, February 3rd. Guggenheim set a $30.00 price target on Gentex in a research note on Wednesday, March 5th. B. Riley reaffirmed a "buy" rating and issued a $32.50 target price (down from $37.00) on shares of Gentex in a research report on Monday, February 3rd. Finally, Robert W. Baird set a $31.00 price target on shares of Gentex in a report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $31.81.

Gentex Stock Down 4.7 %

NASDAQ:GNTX traded down $1.22 during trading hours on Tuesday, reaching $24.80. The company had a trading volume of 2,441,595 shares, compared to its average volume of 1,509,189. The stock has a 50-day moving average of $26.19 and a two-hundred day moving average of $28.68. Gentex Co. has a one year low of $23.63 and a one year high of $36.75. The firm has a market capitalization of $5.63 billion, a PE ratio of 14.09, a PEG ratio of 0.84 and a beta of 0.90.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its earnings results 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 return on equity of 16.74% and a net margin of 17.49%. During the same quarter in the prior year, the business posted $0.50 earnings per share. As a group, sell-side analysts expect that Gentex Co. will post 2.04 earnings per share for the current year.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Wednesday, April 9th. Gentex's payout ratio is currently 27.27%.

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.