Wellington Management Group LLP Boosts Stock Position in Gentex Co. (NASDAQ:GNTX)

Wellington Management Group LLP grew its stake in Gentex Co. (NASDAQ:GNTX - Free Report) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,023,056 shares of the auto parts company's stock after purchasing an additional 1,038,912 shares during the period. Wellington Management Group LLP owned approximately 7.93% of Gentex worth $517,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in GNTX. EdgePoint Investment Group Inc. raised its stake in Gentex by 1.5% during the third quarter. EdgePoint Investment Group Inc. now owns 7,699,919 shares of the auto parts company's stock worth $228,611,000 after purchasing an additional 111,500 shares during the period. TD Asset Management Inc. raised its position in shares of Gentex by 7.1% during the 4th quarter. TD Asset Management Inc. now owns 5,415,871 shares of the auto parts company's stock valued at $155,598,000 after buying an additional 356,854 shares during the period. Geode Capital Management LLC lifted its holdings in Gentex by 5.6% in the third 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. JPMorgan Chase & Co. grew its position in Gentex by 162.4% in the fourth quarter. JPMorgan Chase & Co. now owns 5,249,230 shares of the auto parts company's stock worth $150,810,000 after acquiring an additional 3,248,434 shares during the period. Finally, Disciplined Growth Investors Inc. MN increased its stake in Gentex by 5.5% during the third quarter. Disciplined Growth Investors Inc. MN now owns 4,493,914 shares of the auto parts company's stock worth $133,424,000 after acquiring an additional 234,083 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company's stock.

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Gentex Stock Down 1.0 %

Gentex stock traded down $0.22 during mid-day trading on Friday, reaching $22.14. 3,997,500 shares of the company's stock were exchanged, compared to its average volume of 1,629,877. Gentex Co. has a twelve month low of $21.56 and a twelve month high of $36.24. The company has a market cap of $5.03 billion, a P/E ratio of 12.58, a P/E/G ratio of 0.84 and a beta of 0.90. The company has a fifty day moving average of $24.70 and a 200-day moving average of $27.84.

Gentex (NASDAQ:GNTX - Get Free Report) last released its earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 previous year, the business earned $0.50 earnings per share. Equities research analysts expect 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 paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, April 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.17%. Gentex's payout ratio is 27.27%.

Analyst Upgrades and Downgrades

GNTX has been the topic of several recent analyst reports. B. Riley reaffirmed a "buy" rating and issued a $32.50 price target (down previously from $37.00) on shares of Gentex in a research note on Monday, February 3rd. Guggenheim set a $30.00 target price on shares of Gentex in a research report on Wednesday, March 5th. UBS Group dropped their price target on shares of Gentex from $30.00 to $29.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price objective on shares of Gentex from $34.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. Finally, Robert W. Baird set a $31.00 target price 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 MarketBeat, Gentex presently has an average rating of "Hold" and a consensus 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.