Corebridge Financial Inc. reduced its holdings in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 5.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 257,373 shares of the auto parts company's stock after selling 14,876 shares during the quarter. Corebridge Financial Inc. owned 0.11% of Gentex worth $7,394,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in GNTX. Charles Schwab Investment Management Inc. boosted its holdings in Gentex by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,554,823 shares of the auto parts company's stock worth $46,163,000 after acquiring an additional 6,106 shares during the period. Quantbot Technologies LP purchased a new position in shares of Gentex in the third quarter valued at $2,441,000. BNP Paribas Financial Markets grew its holdings in Gentex by 26.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 51,393 shares of the auto parts company's stock valued at $1,526,000 after purchasing an additional 10,658 shares in the last quarter. FORA Capital LLC purchased a new stake in Gentex during the 3rd quarter worth $846,000. Finally, Northwest & Ethical Investments L.P. lifted its holdings in Gentex by 42.7% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 14,779 shares of the auto parts company's stock worth $439,000 after buying an additional 4,424 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company's stock.
Gentex Stock Down 0.4 %
NASDAQ GNTX traded down $0.10 on Monday, hitting $23.30. The stock had a trading volume of 2,825,752 shares, compared to its average volume of 1,604,714. The company's 50-day moving average is $25.20 and its two-hundred day moving average is $28.05. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 13.24, a P/E/G ratio of 0.84 and a beta of 0.90. Gentex Co. has a one year low of $22.88 and a one year high of $36.46.
Gentex (NASDAQ:GNTX - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share (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 posted $0.50 EPS. On average, sell-side analysts anticipate that Gentex Co. will post 2.04 earnings per share for the current year.
Gentex Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $0.48 annualized dividend and a yield of 2.06%. Gentex's payout ratio is 27.27%.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the company. Robert W. Baird set a $31.00 target price on Gentex in a research note on Monday, February 3rd. Guggenheim set a $30.00 target price on Gentex in a research report on Wednesday, March 5th. UBS Group dropped their price target on shares of Gentex from $30.00 to $29.00 and set a "neutral" rating for the company in a research note on Monday, February 3rd. B. Riley reiterated a "buy" rating and set a $32.50 price objective (down from $37.00) on shares of Gentex in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped their target price 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. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Gentex has an average rating of "Hold" and a consensus target price of $31.81.
Get Our Latest Report on Gentex
Gentex Company Profile
(
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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