Lightrock Netherlands B.V. purchased a new position in shares of Gentex Co. (NASDAQ:GNTX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 327,043 shares of the auto parts company's stock, valued at approximately $9,443,000. Gentex makes up 3.3% of Lightrock Netherlands B.V.'s holdings, making the stock its 9th biggest holding. Lightrock Netherlands B.V. owned about 0.14% of Gentex at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in GNTX. 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 in the last quarter. Bridgewater Associates LP lifted its stake in Gentex by 249.1% during the third quarter. Bridgewater Associates LP now owns 617,657 shares of the auto parts company's stock worth $18,338,000 after purchasing an additional 440,725 shares during the last quarter. Cidel Asset Management Inc. bought a new stake in Gentex during the fourth quarter worth $11,815,000. Citigroup Inc. lifted its stake in Gentex by 327.8% during the third quarter. Citigroup Inc. now owns 483,842 shares of the auto parts company's stock worth $14,365,000 after purchasing an additional 370,746 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Gentex by 53.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 905,080 shares of the auto parts company's stock worth $26,872,000 after purchasing an additional 315,164 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company's stock.
Analyst Ratings Changes
Several research firms have weighed in on GNTX. Robert W. Baird upped their target price on Gentex from $35.00 to $37.00 and gave the stock an "outperform" rating in a research note on Monday, October 28th. Guggenheim cut their target price on Gentex from $35.00 to $34.00 and set a "buy" rating for the company in a research note on Thursday, November 21st. B. Riley restated a "buy" rating and set a $32.50 target price (down from $37.00) on shares of Gentex in a research note on Monday, February 3rd. UBS Group cut their target price on Gentex from $30.00 to $29.00 and set a "neutral" rating for the company in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut their target price on Gentex from $34.00 to $32.00 and set a "neutral" rating for the company in a research note 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 MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $33.06.
Get Our Latest Analysis on GNTX
Gentex Stock Performance
Shares of GNTX traded up $0.12 during trading hours on Friday, reaching $24.48. The stock had a trading volume of 1,598,387 shares, compared to its average volume of 1,961,920. Gentex Co. has a 12 month low of $24.35 and a 12 month high of $37.58. The stock has a market capitalization of $5.57 billion, a PE ratio of 13.91, a PEG ratio of 0.86 and a beta of 0.91. The company's 50-day moving average is $27.94 and its two-hundred day moving average is $29.29.
Gentex (NASDAQ:GNTX - Get Free Report) last announced its earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share (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 period in the prior year, the business earned $0.50 EPS. Equities analysts anticipate that Gentex Co. will post 2.04 earnings per share for the current fiscal year.
Gentex Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Wednesday, January 8th. Gentex's dividend payout ratio is currently 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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