Victory Capital Management Inc. Grows Stock Position in Gentex Co. (NASDAQ:GNTX)

Victory Capital Management Inc. boosted its position in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 65.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 73,936 shares of the auto parts company's stock after acquiring an additional 29,168 shares during the quarter. Victory Capital Management Inc.'s holdings in Gentex were worth $2,124,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Atria Investments Inc lifted its stake in shares of Gentex by 2.0% in the 3rd quarter. Atria Investments Inc now owns 28,940 shares of the auto parts company's stock worth $859,000 after purchasing an additional 577 shares during the period. KBC Group NV increased its holdings in Gentex by 13.3% during the third quarter. KBC Group NV now owns 5,664 shares of the auto parts company's stock valued at $168,000 after buying an additional 667 shares during the last quarter. Empowered Funds LLC raised its position in Gentex by 42.7% in the third quarter. Empowered Funds LLC now owns 21,748 shares of the auto parts company's stock worth $646,000 after acquiring an additional 6,505 shares during the period. Natixis Advisors LLC boosted its stake in shares of Gentex by 14.4% during the 3rd quarter. Natixis Advisors LLC now owns 415,379 shares of the auto parts company's stock worth $12,333,000 after acquiring an additional 52,205 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Gentex by 10.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 392,445 shares of the auto parts company's stock worth $11,651,000 after acquiring an additional 36,134 shares during the last quarter. Institutional investors own 86.76% of the company's stock.

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Gentex Stock Down 0.8 %

NASDAQ GNTX traded down $0.19 during trading on Friday, hitting $23.91. 2,135,137 shares of the stock traded hands, compared to its average volume of 1,542,165. Gentex Co. has a 12-month low of $23.50 and a 12-month high of $36.75. The firm has a 50-day simple moving average of $25.59 and a 200-day simple moving average of $28.33. The company has a market capitalization of $5.43 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 0.84 and a beta of 0.90.

Gentex (NASDAQ:GNTX - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share 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 firm posted $0.50 earnings per share. As a group, research analysts predict that Gentex Co. will post 2.04 EPS for the current fiscal year.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be given 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 of this dividend is Wednesday, April 9th. Gentex's dividend payout ratio is 27.27%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Guggenheim set a $30.00 target price on Gentex in a report on Wednesday, March 5th. B. Riley reaffirmed a "buy" rating and issued a $32.50 price objective (down previously 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 for the company in a research note 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. Finally, UBS Group lowered their price target 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 issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $31.81.

Gentex 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.