Fox Run Management L.L.C. raised its position in Gentex Co. (NASDAQ:GNTX - Free Report) by 198.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,054 shares of the auto parts company's stock after buying an additional 15,990 shares during the quarter. Fox Run Management L.L.C.'s holdings in Gentex were worth $691,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of GNTX. Commerce Bank raised its stake in Gentex by 20.7% in the 3rd quarter. Commerce Bank now owns 16,468 shares of the auto parts company's stock worth $489,000 after purchasing an additional 2,827 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Gentex by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,554,823 shares of the auto parts company's stock worth $46,163,000 after purchasing an additional 6,106 shares during the period. Raymond James Trust N.A. boosted its stake in shares of Gentex by 56.2% in the third quarter. Raymond James Trust N.A. now owns 16,427 shares of the auto parts company's stock valued at $488,000 after buying an additional 5,908 shares during the period. Citigroup Inc. boosted its stake in shares of Gentex by 327.8% in the third quarter. Citigroup Inc. now owns 483,842 shares of the auto parts company's stock valued at $14,365,000 after buying an additional 370,746 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in Gentex during the third quarter worth approximately $2,441,000. Institutional investors and hedge funds own 86.76% of the company's stock.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. Guggenheim set a $30.00 price objective on Gentex in a report on Wednesday, March 5th. UBS Group dropped their price target on Gentex from $30.00 to $29.00 and set a "neutral" rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. reduced their price objective 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. B. Riley restated a "buy" rating and issued a $32.50 target price (down from $37.00) on shares of Gentex in a research report on Monday, February 3rd. Finally, Robert W. Baird set a $31.00 price target on shares of Gentex in a research report 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $31.81.
View Our Latest Stock Analysis on GNTX
Gentex Stock Performance
Shares of GNTX traded down $0.48 during mid-day trading on Friday, reaching $23.40. The company had a trading volume of 2,617,593 shares, compared to its average volume of 1,599,830. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of 13.30, a P/E/G ratio of 0.84 and a beta of 0.90. The company's 50 day simple moving average is $25.20 and its 200 day simple moving average is $28.06. Gentex Co. has a 1-year low of $23.20 and a 1-year high of $36.46.
Gentex (NASDAQ:GNTX - Get Free Report) last issued its earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates 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 last year, the business posted $0.50 earnings per share. As a group, equities analysts forecast that Gentex Co. will post 2.04 earnings per share for the current fiscal year.
Gentex Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $0.48 annualized dividend and a yield of 2.05%. 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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