Boston Partners Sells 594,740 Shares of Gentex Co. (NASDAQ:GNTX)

Boston Partners cut its holdings in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 8.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,052,102 shares of the auto parts company's stock after selling 594,740 shares during the period. Boston Partners owned 2.66% of Gentex worth $173,867,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. EdgePoint Investment Group Inc. raised its position in shares of 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 acquiring an additional 111,500 shares during the period. Geode Capital Management LLC grew its stake in shares of Gentex by 5.6% during the 3rd 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 in the last quarter. Disciplined Growth Investors Inc. MN grew its stake 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 acquiring an additional 234,083 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Gentex by 16.1% during 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 acquiring an additional 386,461 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Gentex by 179.7% in 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 buying an additional 1,285,519 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. B. Riley reissued a "buy" rating and issued a $32.50 price objective (down previously from $37.00) on shares of Gentex in a report on Monday, February 3rd. JPMorgan Chase & Co. dropped their target price on Gentex from $34.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, February 3rd. UBS Group decreased their price target 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 report on Wednesday, March 5th. Finally, Robert W. Baird set a $31.00 target price on Gentex in a research 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $31.81.

Gentex Price Performance

Shares of Gentex stock traded down $0.18 during midday trading on Friday, reaching $23.91. The company had a trading volume of 5,104,784 shares, compared to its average volume of 1,541,764. The stock has a fifty day moving average price of $25.53 and a 200 day moving average price of $28.26. The firm has a market cap of $5.43 billion, a PE ratio of 13.59, a P/E/G ratio of 0.84 and a beta of 0.90. Gentex Co. has a fifty-two week low of $23.50 and a fifty-two week high of $36.46.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The auto parts company reported $0.39 EPS for the quarter, missing analysts' consensus estimates 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 period last year, the business earned $0.50 earnings per share. As a group, sell-side analysts forecast that Gentex Co. will post 2.04 EPS for the current year.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, April 9th. This represents a $0.48 annualized dividend and a dividend yield of 2.01%. Gentex's dividend payout ratio is 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.