Haverford Trust Co Sells 172,118 Shares of Gentex Co. (NASDAQ:GNTX)

Haverford Trust Co cut its holdings in Gentex Co. (NASDAQ:GNTX - Free Report) by 38.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 275,897 shares of the auto parts company's stock after selling 172,118 shares during the period. Haverford Trust Co owned 0.12% of Gentex worth $7,927,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Midwest Capital Advisors LLC bought a new stake in shares of Gentex in the fourth quarter worth about $26,000. TD Private Client Wealth LLC grew its holdings in Gentex by 138.8% during the 4th quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company's stock valued at $33,000 after buying an additional 662 shares in the last quarter. Synergy Asset Management LLC bought a new stake in Gentex in the 4th quarter worth approximately $34,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of 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 worth $70,000 after acquiring an additional 593 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Gentex in the third quarter valued at $125,000. 86.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GNTX has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their price target 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 set a $32.50 target price (down from $37.00) on shares of Gentex in a research report on Monday, February 3rd. Guggenheim set a $30.00 price target on Gentex in a research report on Wednesday, March 5th. Robert W. Baird set a $31.00 price objective on Gentex in a research note on Monday, February 3rd. Finally, UBS Group lowered their price objective on Gentex from $30.00 to $29.00 and set a "neutral" rating for the company in a research note on Monday, February 3rd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $31.81.

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Gentex Stock Performance

NASDAQ GNTX traded down $0.48 during trading on Friday, hitting $23.40. The stock had a trading volume of 2,617,593 shares, compared to its average volume of 1,599,830. The stock 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 stock has a 50 day simple moving average of $25.20 and a 200 day simple moving average of $28.06. Gentex Co. has a one year low of $23.27 and a one year high of $36.46.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share (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 period in the prior year, the business earned $0.50 EPS. On average, sell-side analysts predict that Gentex Co. will post 2.04 EPS for the current year.

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders 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 2.05%. The ex-dividend date is Wednesday, April 9th. Gentex's payout ratio is presently 27.27%.

Gentex Company Profile

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.