Congress Wealth Management LLC DE Lowers Position in Gentex Co. (NASDAQ:GNTX)

Congress Wealth Management LLC DE cut its holdings in Gentex Co. (NASDAQ:GNTX - Free Report) by 63.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,190 shares of the auto parts company's stock after selling 30,290 shares during the quarter. Congress Wealth Management LLC DE's holdings in Gentex were worth $494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Midwest Capital Advisors LLC purchased a new stake in Gentex in the fourth quarter worth $26,000. TD Private Client Wealth LLC grew its holdings in shares of 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 last quarter. Synergy Asset Management LLC purchased a new stake in shares of Gentex during the fourth quarter valued at approximately $34,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Gentex by 32.5% during 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 acquiring an additional 593 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Gentex in the 3rd quarter worth approximately $125,000. Hedge funds and other institutional investors own 86.76% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on GNTX. B. Riley reissued a "buy" rating and issued a $32.50 target price (down previously from $37.00) on shares of Gentex in a report on Monday, February 3rd. JPMorgan Chase & Co. decreased their target price on 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 target on shares of Gentex in a report on Monday, February 3rd. Guggenheim set a $30.00 price objective on shares of Gentex in a report on Wednesday, March 5th. Finally, UBS Group dropped their target price on shares of Gentex from $30.00 to $29.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $31.81.

Remove Ads

Gentex Price Performance

Shares of GNTX stock traded down $0.10 during trading hours on Monday, reaching $23.30. 2,825,752 shares of the company traded hands, compared to its average volume of 1,604,714. The firm has a 50-day moving average price of $25.20 and a 200 day moving average price of $28.05. The company has a market cap of $5.29 billion, a P/E ratio of 13.24, a P/E/G ratio of 0.84 and a beta of 0.90. Gentex Co. has a 12-month low of $22.88 and a 12-month high of $36.46.

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 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 quarter in the previous year, the company posted $0.50 EPS. Sell-side analysts predict that Gentex Co. will post 2.04 EPS for the current year.

Gentex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $0.48 dividend on an annualized basis and a yield of 2.06%. Gentex's payout ratio 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.