Thrivent Financial for Lutherans lessened its position in Gentex Co. (NASDAQ:GNTX - Free Report) by 20.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 311,072 shares of the auto parts company's stock after selling 81,373 shares during the quarter. Thrivent Financial for Lutherans owned about 0.14% of Gentex worth $8,937,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in Gentex by 179.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company's stock valued at $59,404,000 after purchasing an additional 1,285,519 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Gentex by 16.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,787,311 shares of the auto parts company's stock valued at $80,079,000 after acquiring an additional 386,461 shares in the last quarter. Geode Capital Management LLC raised its holdings in Gentex by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company's stock valued at $159,406,000 after acquiring an additional 285,802 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Gentex in the 4th quarter worth approximately $24,479,000. Finally, BCGM Wealth Management LLC lifted its stake in Gentex by 64.2% in the 4th quarter. BCGM Wealth Management LLC now owns 56,743 shares of the auto parts company's stock worth $1,630,000 after purchasing an additional 22,180 shares in the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on GNTX shares. JPMorgan Chase & Co. dropped their price target on Gentex from $34.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. Guggenheim set a $30.00 target price on Gentex in a research note on Wednesday, March 5th. UBS Group reduced their price target on Gentex from $30.00 to $29.00 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 price objective (down previously from $37.00) on shares of Gentex in a report on Monday, February 3rd. Finally, Robert W. Baird set a $31.00 target price on shares of Gentex in a research note on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $31.81.
Get Our Latest Stock Analysis on Gentex
Gentex Stock Up 1.0 %
GNTX stock traded up $0.24 during mid-day trading on Wednesday, hitting $24.76. 1,739,904 shares of the company were exchanged, compared to its average volume of 1,545,491. Gentex Co. has a 12-month low of $23.50 and a 12-month high of $36.46. The firm has a market capitalization of $5.63 billion, a P/E ratio of 14.07, a PEG ratio of 0.84 and a beta of 0.90. The business has a fifty day simple moving average of $25.42 and a 200-day simple moving average of $28.16.
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 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 quarter in the previous year, the firm posted $0.50 EPS. Research analysts predict that Gentex Co. will post 2.04 EPS for the current 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 $0.12 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.94%. Gentex's dividend payout ratio is presently 27.27%.
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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