Artisan Partners Limited Partnership Reduces Position in Gentex Co. (NASDAQ:GNTX)

Artisan Partners Limited Partnership reduced its holdings in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 15.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,194,000 shares of the auto parts company's stock after selling 215,131 shares during the quarter. Artisan Partners Limited Partnership owned 0.52% of Gentex worth $34,304,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. EdgePoint Investment Group Inc. raised its holdings in shares of Gentex by 1.5% in the third quarter. EdgePoint Investment Group Inc. now owns 7,699,919 shares of the auto parts company's stock valued at $228,611,000 after purchasing an additional 111,500 shares during the last quarter. TD Asset Management Inc. grew its position in Gentex by 7.1% in the 4th quarter. TD Asset Management Inc. now owns 5,415,871 shares of the auto parts company's stock worth $155,598,000 after purchasing an additional 356,854 shares in the last quarter. Geode Capital Management LLC increased its stake in Gentex by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company's stock valued at $159,406,000 after buying an additional 285,802 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its position in shares of Gentex by 5.5% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 4,493,914 shares of the auto parts company's stock worth $133,424,000 after buying an additional 234,083 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Gentex by 16.1% in the 4th 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 buying an additional 386,461 shares during the last quarter. 86.76% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of analysts recently commented on GNTX shares. UBS Group dropped their price target on Gentex from $30.00 to $29.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. B. Riley reiterated a "buy" rating and set a $32.50 target price (down from $37.00) on shares of Gentex in a research note on Monday, February 3rd. JPMorgan Chase & Co. reduced their price target on shares of Gentex from $34.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. Robert W. Baird set a $31.00 price objective on shares of Gentex in a research report on Monday, February 3rd. Finally, Guggenheim set a $30.00 target price on shares of Gentex in a research report on Wednesday, March 5th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Gentex has an average rating of "Hold" and an average price target of $31.81.

Gentex Trading Down 0.4 %

Shares of NASDAQ GNTX traded down $0.10 during midday trading on Monday, hitting $23.30. 2,825,752 shares of the company's stock were exchanged, compared to its average volume of 1,604,714. The business's fifty day moving average price is $25.20 and its two-hundred day moving average price is $28.05. Gentex Co. has a 12-month low of $22.88 and a 12-month high of $36.46. The company has a market cap of $5.29 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 0.84 and a beta of 0.90.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its earnings results on Friday, January 31st. The auto parts company reported $0.39 EPS 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 previous year, the company earned $0.50 earnings per share. Equities analysts expect that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Wednesday, April 9th. Gentex's dividend payout ratio (DPR) is presently 27.27%.

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.