Bank of New York Mellon Corp Has $80.08 Million Holdings in Gentex Co. (NASDAQ:GNTX)

Bank of New York Mellon Corp grew its holdings in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 16.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,787,311 shares of the auto parts company's stock after acquiring an additional 386,461 shares during the quarter. Bank of New York Mellon Corp owned 1.23% of Gentex worth $80,079,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GNTX. EdgePoint Investment Group Inc. boosted its holdings in shares of Gentex by 1.5% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 7,699,919 shares of the auto parts company's stock valued at $228,611,000 after acquiring an additional 111,500 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Gentex by 5.6% during the third quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company's stock valued at $159,406,000 after purchasing an additional 285,802 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in shares of Gentex by 5.5% during the third quarter. Disciplined Growth Investors Inc. MN now owns 4,493,914 shares of the auto parts company's stock valued at $133,424,000 after purchasing an additional 234,083 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Gentex by 179.7% during the third quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company's stock worth $59,404,000 after purchasing an additional 1,285,519 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Gentex by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,554,823 shares of the auto parts company's stock valued at $46,163,000 after buying an additional 6,106 shares during the period. Institutional investors own 86.76% of the company's stock.

Gentex Stock Performance

Shares of GNTX stock traded down $0.13 during mid-day trading on Monday, hitting $24.19. The company's stock had a trading volume of 2,263,047 shares, compared to its average volume of 1,940,709. The company has a market cap of $5.50 billion, a PE ratio of 13.74, a P/E/G ratio of 0.84 and a beta of 0.91. The company's fifty day simple moving average is $26.70 and its 200-day simple moving average is $28.90. Gentex Co. has a 52 week low of $24.03 and a 52 week high of $37.58.

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 return on equity of 16.74% and a net margin of 17.49%. During the same period in the prior year, the company earned $0.50 earnings per share. On average, equities 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. Investors of record on Wednesday, April 9th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, April 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.98%. Gentex's payout ratio is presently 27.27%.

Analysts Set New Price Targets

Several equities research analysts recently commented on GNTX shares. Guggenheim cut their target price on shares of Gentex from $35.00 to $34.00 and set a "buy" rating on the stock in a research report on Thursday, November 21st. Robert W. Baird set a $31.00 price target on shares of Gentex in a report on Monday, February 3rd. UBS Group decreased their price objective on Gentex from $30.00 to $29.00 and set a "neutral" rating for the company in a report on Monday, February 3rd. JPMorgan Chase & Co. cut their target price on Gentex from $34.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. Finally, B. Riley reiterated 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. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Gentex currently has an average rating of "Hold" and an average target price of $32.31.

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.