Connor Clark & Lunn Investment Management Ltd. cut its position in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 28.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,708 shares of the auto parts company's stock after selling 38,312 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Gentex were worth $2,807,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Midwest Capital Advisors LLC purchased a new position in Gentex during the fourth quarter worth about $26,000. Synergy Asset Management LLC acquired a new stake in shares of Gentex during the fourth quarter valued at about $34,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Gentex by 32.5% during the fourth 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 last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Gentex during the third quarter valued at about $125,000. Finally, GAMMA Investing LLC increased its position in shares of Gentex by 159.1% during the fourth quarter. GAMMA Investing LLC now owns 5,133 shares of the auto parts company's stock valued at $147,000 after acquiring an additional 3,152 shares during the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on GNTX shares. B. Riley reiterated a "buy" rating and set a $32.50 price target (down from $37.00) on shares of Gentex in a research report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price target 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. Robert W. Baird set a $31.00 price target on shares of Gentex in a research report on Monday, February 3rd. Guggenheim set a $30.00 price objective on shares of Gentex in a report on Wednesday, March 5th. Finally, UBS Group dropped their price objective on shares of Gentex from $30.00 to $29.00 and set a "neutral" rating for the company in a report on Monday, February 3rd. Six equities research 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 stock has an average rating of "Hold" and a consensus target price of $31.81.
Get Our Latest Report on Gentex
Gentex Stock Down 0.7 %
NASDAQ GNTX traded down $0.18 on Friday, hitting $23.91. 5,104,784 shares of the stock were exchanged, compared to its average volume of 1,542,201. Gentex Co. has a fifty-two week low of $23.50 and a fifty-two week high of $36.75. The company has a market cap of $5.43 billion, a PE ratio of 13.59, a PEG ratio of 0.84 and a beta of 0.90. The company has a 50-day moving average price of $25.59 and a 200-day moving average price of $28.33.
Gentex (NASDAQ:GNTX - Get Free Report) last posted its quarterly 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 posted $0.50 EPS. As a group, equities research analysts predict that Gentex Co. will post 2.04 EPS for the current fiscal year.
Gentex Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.01%. The ex-dividend date is Wednesday, April 9th. Gentex's dividend payout ratio (DPR) 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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