Norges Bank purchased a new position in shares of Gentex Co. (NASDAQ:GNTX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,808,526 shares of the auto parts company's stock, valued at approximately $51,959,000. Norges Bank owned 0.80% of Gentex as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Coldstream Capital Management Inc. boosted its stake in Gentex by 5.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,446 shares of the auto parts company's stock valued at $221,000 after buying an additional 408 shares in the last quarter. 180 Wealth Advisors LLC boosted its stake in shares of Gentex by 0.7% in the 4th quarter. 180 Wealth Advisors LLC now owns 65,805 shares of the auto parts company's stock valued at $1,891,000 after purchasing an additional 437 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Gentex by 6.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 7,445 shares of the auto parts company's stock worth $214,000 after purchasing an additional 457 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Gentex by 32.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,419 shares of the auto parts company's stock worth $70,000 after purchasing an additional 593 shares in the last quarter. Finally, Toronto Dominion Bank lifted its holdings in Gentex by 1.6% during the 3rd quarter. Toronto Dominion Bank now owns 40,721 shares of the auto parts company's stock valued at $1,209,000 after purchasing an additional 650 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. B. Riley reiterated a "buy" rating and issued a $32.50 target price (down previously from $37.00) on shares of Gentex in a research note on Monday, February 3rd. Guggenheim set a $30.00 price objective on Gentex in a research report on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price objective on Gentex from $34.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. Robert W. Baird set a $31.00 price target on Gentex in a report on Monday, February 3rd. Finally, UBS Group decreased their price objective on shares of Gentex from $30.00 to $29.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. 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, Gentex has an average rating of "Hold" and an average price target of $31.81.
Check Out Our Latest Research Report on Gentex
Gentex Stock Down 3.4 %
GNTX stock traded down $0.76 during midday trading on Monday, reaching $21.38. The company's stock had a trading volume of 3,864,351 shares, compared to its average volume of 1,638,779. The business's 50-day simple moving average is $24.70 and its 200-day simple moving average is $27.83. The stock has a market cap of $4.86 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 0.84 and a beta of 0.84. Gentex Co. has a 52 week low of $20.87 and a 52 week high of $36.24.
Gentex (NASDAQ:GNTX - Get Free Report) last announced 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 firm earned $0.50 EPS. As a group, equities analysts forecast that Gentex Co. will post 2.04 earnings per share for the current fiscal year.
Gentex Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Wednesday, April 9th. 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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