Gentex Co. (NASDAQ:GNTX) Shares Purchased by Hendershot Investments Inc.

Hendershot Investments Inc. raised its holdings in Gentex Co. (NASDAQ:GNTX - Free Report) by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 659,066 shares of the auto parts company's stock after purchasing an additional 24,231 shares during the quarter. Gentex accounts for about 2.6% of Hendershot Investments Inc.'s holdings, making the stock its 11th biggest position. Hendershot Investments Inc. owned approximately 0.29% of Gentex worth $18,935,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. JPMorgan Chase & Co. grew its position in 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 buying an additional 1,285,519 shares during the period. Bridgewater Associates LP boosted its stake in shares of Gentex by 249.1% during the 3rd quarter. Bridgewater Associates LP now owns 617,657 shares of the auto parts company's stock worth $18,338,000 after acquiring an additional 440,725 shares in the last quarter. Cidel Asset Management Inc. acquired a new stake in shares of Gentex in the 4th quarter worth approximately $11,815,000. Citigroup Inc. grew its holdings in shares of Gentex by 327.8% in the 3rd quarter. Citigroup Inc. now owns 483,842 shares of the auto parts company's stock worth $14,365,000 after acquiring an additional 370,746 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in Gentex by 53.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 905,080 shares of the auto parts company's stock valued at $26,872,000 after purchasing an additional 315,164 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on GNTX shares. Guggenheim lowered their target price on Gentex from $35.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, November 21st. JPMorgan Chase & Co. lowered 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 set a $32.50 target price (down previously from $37.00) on shares of Gentex in a research report on Monday, February 3rd. UBS Group lowered their price target on shares of Gentex from $30.00 to $29.00 and set a "neutral" rating on the stock in a research report on Monday, February 3rd. Finally, Robert W. Baird raised their price objective on shares of Gentex from $35.00 to $37.00 and gave the stock an "outperform" rating in a research note on Monday, October 28th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Gentex has a consensus rating of "Hold" and an average price target of $33.06.

Gentex Price Performance

GNTX traded down $0.51 during trading hours on Wednesday, hitting $24.39. 1,803,456 shares of the stock were exchanged, compared to its average volume of 1,947,956. The stock has a 50-day simple moving average of $28.17 and a 200-day simple moving average of $29.36. Gentex Co. has a 12 month low of $24.38 and a 12 month high of $37.58. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 0.86 and a beta of 0.91.

Gentex (NASDAQ:GNTX - Get Free Report) last released its quarterly earnings data 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 quarter last year, the firm posted $0.50 earnings per share. Sell-side analysts expect that Gentex Co. will post 2.04 EPS for the current year.

Gentex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, January 8th. This represents a $0.48 annualized dividend and a dividend yield of 1.97%. Gentex's dividend payout ratio is presently 27.27%.

Gentex 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.