Welch & Forbes LLC cut its position in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 63.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,800 shares of the auto parts company's stock after selling 16,750 shares during the quarter. Welch & Forbes LLC's holdings in Gentex were worth $282,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the company. Lindenwold Advisors INC increased its holdings in shares of Gentex by 2.8% in the 3rd quarter. Lindenwold Advisors INC now owns 12,539 shares of the auto parts company's stock valued at $372,000 after purchasing an additional 347 shares during the period. Coldstream Capital Management Inc. increased its holdings in shares of 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 purchasing an additional 408 shares during the period. 180 Wealth Advisors LLC increased its holdings 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 during the period. Oppenheimer Asset Management Inc. increased 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 valued at $214,000 after purchasing an additional 457 shares during the period. Finally, Intellectus Partners LLC increased its holdings in shares of Gentex by 6.1% in the 3rd quarter. Intellectus Partners LLC now owns 8,452 shares of the auto parts company's stock valued at $251,000 after purchasing an additional 484 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.
Gentex Trading Down 4.8 %
Gentex stock traded down $1.24 during trading hours on Tuesday, reaching $24.78. 3,096,768 shares of the company were exchanged, compared to its average volume of 1,510,386. Gentex Co. has a 12 month low of $23.63 and a 12 month high of $36.75. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 0.84 and a beta of 0.90. The stock has a 50-day moving average of $26.12 and a 200 day moving average of $28.63.
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 the consensus estimate of $0.49 by ($0.10). Gentex had a net margin of 17.49% and a return on equity of 16.74%. During the same period in the prior year, the firm earned $0.50 earnings per share. As a group, research analysts forecast that Gentex Co. will post 2.04 EPS for the current year.
Gentex Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be given 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 27.27%.
Analyst Ratings Changes
A number of brokerages have recently weighed in on GNTX. JPMorgan Chase & Co. dropped their target price on Gentex from $34.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. Guggenheim set a $30.00 target price on Gentex in a report on Wednesday, March 5th. Robert W. Baird set a $31.00 price objective on Gentex in a report on Monday, February 3rd. UBS Group dropped their price objective on Gentex from $30.00 to $29.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. Finally, B. Riley restated 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. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Gentex presently has a consensus rating of "Hold" and a consensus price target of $31.81.
View Our Latest Analysis on Gentex
Gentex Company 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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