Marshall Wace LLP purchased a new position in shares of Gentex Co. (NASDAQ:GNTX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 378,272 shares of the auto parts company's stock, valued at approximately $10,868,000. Marshall Wace LLP owned approximately 0.17% of Gentex as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of GNTX. Barclays PLC increased its holdings in Gentex by 54.4% in the third quarter. Barclays PLC now owns 107,930 shares of the auto parts company's stock valued at $3,205,000 after buying an additional 38,027 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Gentex during the 3rd quarter worth about $326,000. Sanctuary Advisors LLC purchased a new position in shares of Gentex in the 3rd quarter valued at about $373,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Gentex during the 3rd quarter worth about $125,000. Finally, Tidal Investments LLC lifted its stake in Gentex by 1.2% during the third quarter. Tidal Investments LLC now owns 59,958 shares of the auto parts company's stock worth $1,780,000 after purchasing an additional 736 shares during the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have weighed in on GNTX. Robert W. Baird reissued a "neutral" rating and set a $25.00 price objective (down previously from $31.00) on shares of Gentex in a report on Tuesday, April 15th. Baird R W cut shares of Gentex from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. dropped their price objective on Gentex from $34.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. B. Riley reissued a "buy" rating and issued a $32.50 target price (down from $37.00) on shares of Gentex in a research report on Monday, February 3rd. Finally, Guggenheim dropped their price target on Gentex from $30.00 to $24.00 and set a "buy" rating on the stock in a research note on Tuesday. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Gentex presently has a consensus rating of "Hold" and an average price target of $28.31.
Check Out Our Latest Stock Analysis on Gentex
Gentex Stock Performance
NASDAQ:GNTX traded down $0.61 during mid-day trading on Friday, hitting $21.36. 3,379,495 shares of the company's stock traded hands, compared to its average volume of 1,719,342. Gentex Co. has a 1 year low of $20.28 and a 1 year high of $35.33. The company has a market cap of $4.83 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 0.84 and a beta of 0.84. The firm's 50 day simple moving average is $23.30 and its 200 day simple moving average is $26.93.
Gentex (NASDAQ:GNTX - Get Free Report) last posted its earnings results on Friday, April 25th. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.01). Gentex had a net margin of 17.49% and a return on equity of 16.74%. The company had revenue of $576.77 million during the quarter, compared to analysts' expectations of $578.68 million. During the same period in the previous year, the company posted $0.47 EPS. On average, research analysts expect that Gentex Co. will post 2.04 earnings per share for the current fiscal year.
Gentex Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, April 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.25%. Gentex's dividend payout ratio (DPR) is presently 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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