Envestnet Asset Management Inc. Sells 39,020 Shares of Gentex Co. (NASDAQ:GNTX)

Envestnet Asset Management Inc. lessened its stake in Gentex Co. (NASDAQ:GNTX - Free Report) by 14.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 224,316 shares of the auto parts company's stock after selling 39,020 shares during the period. Envestnet Asset Management Inc. owned about 0.10% of Gentex worth $6,445,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GNTX. Wellington Management Group LLP grew its holdings in shares of Gentex by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 18,023,056 shares of the auto parts company's stock worth $517,802,000 after purchasing an additional 1,038,912 shares in the last quarter. Geode Capital Management LLC lifted its position in Gentex by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 5,423,820 shares of the auto parts company's stock worth $155,861,000 after purchasing an additional 55,816 shares during the period. TD Asset Management Inc. boosted its stake in Gentex by 7.1% during the fourth quarter. TD Asset Management Inc. now owns 5,415,871 shares of the auto parts company's stock worth $155,598,000 after buying an additional 356,854 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Gentex by 162.4% in the 4th quarter. JPMorgan Chase & Co. now owns 5,249,230 shares of the auto parts company's stock valued at $150,810,000 after buying an additional 3,248,434 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Gentex by 16.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,787,311 shares of the auto parts company's stock valued at $80,079,000 after buying an additional 386,461 shares in the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Gentex Price Performance

Shares of GNTX stock traded down $0.08 during trading hours on Wednesday, hitting $21.67. 2,224,417 shares of the company's stock were exchanged, compared to its average volume of 1,701,923. Gentex Co. has a 52 week low of $20.28 and a 52 week high of $35.33. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 0.84 and a beta of 0.84. The stock's 50-day moving average is $23.40 and its 200-day moving average is $27.02.

Gentex (NASDAQ:GNTX - Get Free Report) last issued 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 quarter in the prior year, the business posted $0.50 EPS. Equities research analysts forecast that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Wednesday, April 9th. Gentex's dividend payout ratio is currently 27.27%.

Analyst Upgrades and Downgrades

GNTX has been the topic of a number of analyst reports. The Goldman Sachs Group lowered their target price on shares of Gentex from $28.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. B. Riley reissued a "buy" rating and issued a $32.50 target price (down from $37.00) on shares of Gentex in a report on Monday, February 3rd. UBS Group decreased their price target on Gentex from $29.00 to $21.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Guggenheim dropped their price objective on Gentex from $30.00 to $24.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, Baird R W downgraded shares of Gentex from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $28.31.

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.