KLP Kapitalforvaltning AS Makes New Investment in Gentex Co. (NASDAQ:GNTX)

KLP Kapitalforvaltning AS acquired a new position in shares of Gentex Co. (NASDAQ:GNTX - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 64,800 shares of the auto parts company's stock, valued at approximately $1,862,000.

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

Gentex Trading Down 0.1 %

GNTX stock traded down $0.02 during trading hours on Tuesday, hitting $23.28. 222,919 shares of the stock traded hands, compared to its average volume of 1,599,434. The stock has a 50-day simple moving average of $25.11 and a 200 day simple moving average of $28.01. The company has a market cap of $5.29 billion, a P/E ratio of 13.22, a P/E/G ratio of 0.84 and a beta of 0.90. Gentex Co. has a one year low of $22.87 and a one year high of $36.46.

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Gentex (NASDAQ:GNTX - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The auto parts company reported $0.39 earnings per share for the quarter, missing the consensus estimate 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 in the prior year, the business posted $0.50 EPS. Analysts forecast that Gentex Co. will post 2.04 earnings per share for the current year.

Gentex Dividend Announcement

The firm also recently declared 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 2.06%. Gentex's dividend payout ratio (DPR) is 27.27%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GNTX shares. B. Riley reissued a "buy" rating and issued a $32.50 price target (down previously from $37.00) on shares of Gentex in a report on Monday, February 3rd. Guggenheim set a $30.00 price objective on shares of Gentex in a research report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their target price 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 objective on Gentex in a report on Monday, February 3rd. Finally, UBS Group reduced their price target on Gentex from $30.00 to $29.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $31.81.

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.