West Michigan Advisors LLC Sells 326,605 Shares of Gentex Co. (NASDAQ:GNTX)

West Michigan Advisors LLC trimmed its stake in Gentex Co. (NASDAQ:GNTX - Free Report) by 17.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,518,923 shares of the auto parts company's stock after selling 326,605 shares during the period. Gentex comprises about 13.2% of West Michigan Advisors LLC's investment portfolio, making the stock its largest position. West Michigan Advisors LLC owned 0.67% of Gentex worth $43,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in GNTX. Midwest Capital Advisors LLC acquired a new position in shares of Gentex during the fourth quarter valued at $26,000. Synergy Asset Management LLC bought a new position in Gentex in the fourth quarter valued at approximately $34,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in 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 acquiring an additional 593 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Gentex in the 3rd quarter valued at $125,000. Finally, GAMMA Investing LLC increased its holdings in Gentex by 159.1% in the fourth quarter. GAMMA Investing LLC now owns 5,133 shares of the auto parts company's stock valued at $147,000 after purchasing an additional 3,152 shares during the last quarter. 86.76% of the stock is owned by institutional investors.

Gentex Price Performance

GNTX stock traded down $0.13 during midday trading on Monday, hitting $24.19. The company's stock had a trading volume of 1,196,480 shares, compared to its average volume of 1,911,916. The company's fifty day moving average price is $26.70 and its 200 day moving average price is $28.90. Gentex Co. has a twelve month low of $24.07 and a twelve month high of $37.58. The stock has a market capitalization of $5.50 billion, a P/E ratio of 13.75, a PEG ratio of 0.84 and a beta of 0.91.

Gentex (NASDAQ:GNTX - Get Free Report) last announced its quarterly earnings results 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 net margin of 17.49% and a return on equity of 16.74%. During the same quarter last year, the firm posted $0.50 earnings per share. Equities analysts expect that Gentex Co. will post 2.04 EPS for the current fiscal year.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, April 9th. This represents a $0.48 annualized dividend and a yield of 1.98%. Gentex's dividend payout ratio (DPR) is presently 27.27%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GNTX. B. Riley restated a "buy" rating and set a $32.50 target price (down from $37.00) on shares of Gentex in a research report on Monday, February 3rd. UBS Group reduced their price objective on shares of Gentex from $30.00 to $29.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. Robert W. Baird set a $31.00 target price on shares of Gentex in a report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price target on shares of Gentex from $34.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, February 3rd. Finally, Guggenheim dropped their price objective on Gentex from $35.00 to $34.00 and set a "buy" rating on the stock in a research note on Thursday, November 21st. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Gentex presently has a consensus rating of "Hold" and an average target price of $32.31.

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.