Cidel Asset Management Inc. bought a new stake in shares of Gentex Co. (NASDAQ:GNTX - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 411,232 shares of the auto parts company's stock, valued at approximately $11,815,000. Cidel Asset Management Inc. owned about 0.18% of Gentex as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Lecap Asset Management Ltd. bought a new stake in shares of Gentex during the 4th quarter valued at $334,000. Choreo LLC increased its position in shares of Gentex by 27.8% in the 4th quarter. Choreo LLC now owns 14,511 shares of the auto parts company's stock valued at $415,000 after buying an additional 3,154 shares in the last quarter. Retirement Systems of Alabama increased its position in shares of Gentex by 8.8% in the 4th quarter. Retirement Systems of Alabama now owns 592,241 shares of the auto parts company's stock valued at $17,015,000 after buying an additional 47,870 shares in the last quarter. Trust Point Inc. increased its position in shares of Gentex by 94.9% in the 4th quarter. Trust Point Inc. now owns 31,446 shares of the auto parts company's stock valued at $903,000 after buying an additional 15,313 shares in the last quarter. Finally, JB Capital LLC increased its position in shares of Gentex by 4.8% in the 4th quarter. JB Capital LLC now owns 107,661 shares of the auto parts company's stock valued at $3,093,000 after buying an additional 4,904 shares in the last quarter. Institutional investors own 86.76% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms recently commented on GNTX. B. Riley restated a "buy" rating and issued a $32.50 price objective (down previously from $37.00) on shares of Gentex in a research report on Monday, February 3rd. JPMorgan Chase & Co. lowered 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. Robert W. Baird increased their target price on Gentex from $35.00 to $37.00 and gave the stock an "outperform" rating in a report on Monday, October 28th. Guggenheim lowered their target price on Gentex from $35.00 to $34.00 and set a "buy" rating for the company in a report on Thursday, November 21st. Finally, UBS Group lowered their target price on Gentex from $30.00 to $29.00 and set a "neutral" rating for the company in a 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $33.06.
View Our Latest Stock Analysis on Gentex
Gentex Trading Down 2.0 %
GNTX stock traded down $0.51 during mid-day trading on Wednesday, hitting $24.39. 1,803,456 shares of the company were exchanged, compared to its average volume of 1,947,956. The business has a 50 day simple moving average of $28.17 and a 200-day simple moving average of $29.36. The stock has a market capitalization of $5.55 billion, a PE ratio of 13.86, a price-to-earnings-growth ratio of 0.86 and a beta of 0.91. Gentex Co. has a 1-year low of $24.38 and a 1-year high of $37.58.
Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings data 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 return on equity of 16.74% and a net margin of 17.49%. During the same quarter last year, the company earned $0.50 EPS. Equities research analysts expect that Gentex Co. will post 2.04 earnings per share for the current year.
Gentex Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, January 8th. This represents a $0.48 annualized dividend and a dividend yield of 1.97%. Gentex's dividend payout ratio is presently 27.27%.
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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