Adage Capital Partners GP L.L.C. purchased a new stake in shares of Gentex Co. (NASDAQ:GNTX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 550,000 shares of the auto parts company's stock, valued at approximately $15,802,000. Adage Capital Partners GP L.L.C. owned 0.24% of Gentex at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Midwest Capital Advisors LLC acquired a new stake in Gentex during the 4th quarter valued at $26,000. TD Private Client Wealth LLC raised its position in Gentex by 138.8% during the fourth quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company's stock valued at $33,000 after buying an additional 662 shares during the period. Synergy Asset Management LLC purchased a new stake in Gentex in the 4th quarter worth about $34,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Gentex by 32.5% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,419 shares of the auto parts company's stock worth $70,000 after acquiring an additional 593 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Gentex during the 4th quarter worth about $96,000. Hedge funds and other institutional investors own 86.76% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on GNTX shares. B. Riley reissued a "buy" rating and issued a $32.50 price target (down from $37.00) on shares of Gentex in a research report on Monday, February 3rd. UBS Group decreased their target price on shares of Gentex from $29.00 to $21.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Baird R W downgraded shares of Gentex from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. reduced their price objective on Gentex from $34.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. Finally, Robert W. Baird reaffirmed a "neutral" rating and set a $25.00 price target (down from $31.00) on shares of Gentex in a research note on Tuesday, April 15th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $28.31.
Read Our Latest Report on GNTX
Gentex Price Performance
Shares of NASDAQ:GNTX opened at $21.36 on Friday. The stock has a market capitalization of $4.83 billion, a P/E ratio of 12.14, a P/E/G ratio of 0.84 and a beta of 0.84. The business has a 50-day moving average of $23.23 and a two-hundred day moving average of $26.87. Gentex Co. has a fifty-two week low of $20.28 and a fifty-two week high of $35.33.
Gentex (NASDAQ:GNTX - Get Free Report) last posted its earnings results on Friday, April 25th. The auto parts company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. Gentex had a return on equity of 16.74% and a net margin of 17.49%. The firm had revenue of $576.77 million during the quarter, compared to analyst estimates of $578.68 million. During the same period in the previous year, the company earned $0.47 EPS. As a group, research analysts expect that Gentex Co. will post 2.04 EPS for the current fiscal year.
Gentex Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th were paid a $0.12 dividend. The ex-dividend date was Wednesday, April 9th. This represents a $0.48 dividend on an annualized basis and a yield of 2.25%. Gentex's payout ratio is presently 28.07%.
About Gentex
(
Free Report)
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.
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