Corient Private Wealth LLC cut its position in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 17.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,874 shares of the auto parts company's stock after selling 12,506 shares during the quarter. Corient Private Wealth LLC's holdings in Gentex were worth $1,691,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Midwest Capital Advisors LLC bought a new stake in shares of Gentex during the fourth quarter valued at approximately $26,000. Synergy Asset Management LLC purchased a new position in shares of Gentex in the fourth quarter valued at about $34,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Gentex by 32.5% during the 4th 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 during the period. Wilmington Savings Fund Society FSB purchased a new position in Gentex during the 3rd quarter valued at approximately $125,000. Finally, GAMMA Investing LLC raised its stake in Gentex by 159.1% in the fourth quarter. GAMMA Investing LLC now owns 5,133 shares of the auto parts company's stock worth $147,000 after buying an additional 3,152 shares in the last quarter. Institutional investors own 86.76% of the company's stock.
Gentex Price Performance
NASDAQ GNTX traded down $0.48 during mid-day trading on Friday, hitting $23.40. The stock had a trading volume of 2,617,593 shares, compared to its average volume of 1,598,153. Gentex Co. has a twelve month low of $23.28 and a twelve month high of $36.46. The stock has a market capitalization of $5.32 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 0.84 and a beta of 0.90. The firm's 50 day moving average is $25.29 and its 200 day moving average is $28.11.
Gentex (NASDAQ:GNTX - Get Free Report) last announced its earnings results on Friday, January 31st. The auto parts company reported $0.39 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 firm earned $0.50 earnings per share. As a group, equities research analysts expect that Gentex Co. will post 2.04 earnings per share for the current year.
Gentex Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be given 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 dividend yield of 2.05%. Gentex's dividend payout ratio is presently 27.27%.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on GNTX. Robert W. Baird set a $31.00 price objective on Gentex in a research note on Monday, February 3rd. Guggenheim set a $30.00 price objective on shares of Gentex in a report on Wednesday, March 5th. UBS Group cut their target price on Gentex from $30.00 to $29.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. B. Riley restated a "buy" rating and issued a $32.50 price target (down previously from $37.00) on shares of Gentex in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. lowered their target price 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. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $31.81.
Get Our Latest Stock Analysis on Gentex
Gentex 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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