Ashton Thomas Securities LLC Trims Stake in Gentex Co. (NASDAQ:GNTX)

Ashton Thomas Securities LLC cut its stake in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 45.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,082 shares of the auto parts company's stock after selling 19,694 shares during the quarter. Ashton Thomas Securities LLC's holdings in Gentex were worth $692,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GNTX. Coldstream Capital Management Inc. lifted its stake in Gentex by 5.8% in the third quarter. Coldstream Capital Management Inc. now owns 7,446 shares of the auto parts company's stock worth $221,000 after acquiring an additional 408 shares during the last quarter. 180 Wealth Advisors LLC lifted its position in shares of Gentex by 0.7% during the 4th quarter. 180 Wealth Advisors LLC now owns 65,805 shares of the auto parts company's stock worth $1,891,000 after purchasing an additional 437 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Gentex by 6.5% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 7,445 shares of the auto parts company's stock worth $214,000 after purchasing an additional 457 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Gentex by 32.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,419 shares of the auto parts company's stock valued at $70,000 after buying an additional 593 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in Gentex by 1.6% in the third quarter. Toronto Dominion Bank now owns 40,721 shares of the auto parts company's stock valued at $1,209,000 after buying an additional 650 shares in the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

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

Gentex Stock Performance

NASDAQ GNTX traded down $0.48 during trading on Friday, reaching $23.40. The company's stock had a trading volume of 2,617,593 shares, compared to its average volume of 1,599,830. The business's fifty day moving average price is $25.20 and its 200-day moving average price is $28.05. Gentex Co. has a twelve month low of $23.27 and a twelve month high of $36.46. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of 13.30, a P/E/G ratio of 0.84 and a beta of 0.90.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.10). Gentex had a net margin of 17.49% and a return on equity of 16.74%. During the same period last year, the firm posted $0.50 earnings per share. As a group, sell-side analysts forecast 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 will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Wednesday, April 9th. Gentex's dividend payout ratio (DPR) is 27.27%.

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.