Magnetar Financial LLC bought a new position in Gentex Co. (NASDAQ:GNTX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 15,795 shares of the auto parts company's stock, valued at approximately $454,000.
Several other institutional investors have also made changes to their positions in the company. Empowered Funds LLC lifted its holdings in shares of Gentex by 42.7% in the third quarter. Empowered Funds LLC now owns 21,748 shares of the auto parts company's stock valued at $646,000 after purchasing an additional 6,505 shares in the last quarter. Commerce Bank raised its position in Gentex by 20.7% during the third quarter. Commerce Bank now owns 16,468 shares of the auto parts company's stock valued at $489,000 after buying an additional 2,827 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Gentex by 155.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 136,020 shares of the auto parts company's stock worth $4,038,000 after acquiring an additional 82,701 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Gentex by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,554,823 shares of the auto parts company's stock valued at $46,163,000 after acquiring an additional 6,106 shares in the last quarter. Finally, Raymond James Trust N.A. lifted its position in shares of Gentex by 56.2% in the third quarter. Raymond James Trust N.A. now owns 16,427 shares of the auto parts company's stock worth $488,000 after purchasing an additional 5,908 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.
Gentex Stock Performance
Shares of GNTX traded down $0.88 during mid-day trading on Thursday, hitting $23.88. The company's stock had a trading volume of 3,043,885 shares, compared to its average volume of 1,553,335. Gentex Co. has a one year low of $23.50 and a one year high of $36.46. The stock's 50-day moving average is $25.37 and its two-hundred day moving average is $28.14. The firm has a market capitalization of $5.43 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 0.84 and a beta of 0.90.
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 (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 in the prior year, the company posted $0.50 EPS. Analysts expect that Gentex Co. will post 2.04 EPS for the current fiscal year.
Gentex Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders 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 dividend yield of 2.01%. The ex-dividend date is Wednesday, April 9th. Gentex's payout ratio is presently 27.27%.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. cut 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 target price on Gentex in a research report on Monday, February 3rd. B. Riley reiterated a "buy" rating and set a $32.50 price target (down from $37.00) on shares of Gentex in a report on Monday, February 3rd. UBS Group decreased 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. Finally, Guggenheim set a $30.00 price target on Gentex in a research report on Wednesday, March 5th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $31.81.
View Our Latest Stock Analysis on GNTX
Gentex Profile
(
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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