Motley Fool Asset Management LLC Sells 37,118 Shares of Gentex Co. (NASDAQ:GNTX)

Motley Fool Asset Management LLC cut its holdings in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 12.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 250,003 shares of the auto parts company's stock after selling 37,118 shares during the quarter. Motley Fool Asset Management LLC owned 0.11% of Gentex worth $7,183,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wellington Management Group LLP grew its stake in Gentex by 6.1% during the fourth quarter. Wellington Management Group LLP now owns 18,023,056 shares of the auto parts company's stock worth $517,802,000 after buying an additional 1,038,912 shares in the last quarter. EdgePoint Investment Group Inc. increased its stake in Gentex by 1.5% in the third quarter. EdgePoint Investment Group Inc. now owns 7,699,919 shares of the auto parts company's stock valued at $228,611,000 after acquiring an additional 111,500 shares during the last quarter. Geode Capital Management LLC raised its position in Gentex by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 5,423,820 shares of the auto parts company's stock valued at $155,861,000 after purchasing an additional 55,816 shares in the last quarter. TD Asset Management Inc. lifted its stake in Gentex by 7.1% during the fourth quarter. TD Asset Management Inc. now owns 5,415,871 shares of the auto parts company's stock worth $155,598,000 after purchasing an additional 356,854 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Gentex by 162.4% in the 4th quarter. JPMorgan Chase & Co. now owns 5,249,230 shares of the auto parts company's stock valued at $150,810,000 after purchasing an additional 3,248,434 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

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Gentex Stock Down 3.5 %

GNTX traded down $0.79 during midday trading on Monday, hitting $21.36. 2,155,580 shares of the company were exchanged, compared to its average volume of 1,632,979. The firm has a market capitalization of $4.85 billion, a P/E ratio of 12.12, a P/E/G ratio of 0.84 and a beta of 0.84. The firm's 50 day moving average price is $24.70 and its 200-day moving average price is $27.83. Gentex Co. has a 1-year low of $20.87 and a 1-year high of $36.24.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The auto parts company reported $0.39 EPS 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 period last year, the business earned $0.50 earnings per share. On average, sell-side analysts predict that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $0.48 annualized dividend and a yield of 2.25%. Gentex's payout ratio is 27.27%.

Analyst Ratings Changes

GNTX has been the subject of a number of research analyst reports. UBS Group lowered their price target on Gentex from $30.00 to $29.00 and set a "neutral" rating for the company in a report on Monday, February 3rd. Robert W. Baird set a $31.00 target price on shares of Gentex in a research note on Monday, February 3rd. B. Riley reiterated a "buy" rating and issued a $32.50 price target (down from $37.00) on shares of Gentex in a research note on Monday, February 3rd. JPMorgan Chase & Co. cut 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. Finally, Guggenheim set a $30.00 target price on Gentex in a report on Wednesday, March 5th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price 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.