550,000 Shares in Gentex Co. (NASDAQ:GNTX) Acquired by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. bought a new position in Gentex Co. (NASDAQ:GNTX - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 550,000 shares of the auto parts company's stock, valued at approximately $15,802,000. Adage Capital Partners GP L.L.C. owned 0.24% of Gentex as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in Gentex by 6.1% during the fourth quarter. Wellington Management Group LLP now owns 18,023,056 shares of the auto parts company's stock worth $517,802,000 after acquiring an additional 1,038,912 shares in the last quarter. Geode Capital Management LLC increased its stake in Gentex by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 5,423,820 shares of the auto parts company's stock worth $155,861,000 after purchasing an additional 55,816 shares in the last quarter. TD Asset Management Inc. raised its holdings in 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 worth $155,598,000 after buying an additional 356,854 shares during the period. JPMorgan Chase & Co. lifted its stake 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 valued at $150,810,000 after buying an additional 3,248,434 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Gentex by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,495,516 shares of the auto parts company's stock valued at $129,156,000 after buying an additional 192,375 shares during the period. 86.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GNTX. Robert W. Baird reissued a "neutral" rating and issued a $25.00 target price (down previously from $31.00) on shares of Gentex in a research report on Tuesday, April 15th. JPMorgan Chase & Co. cut their price objective on shares of Gentex from $34.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday, February 3rd. Baird R W downgraded shares of Gentex from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Guggenheim cut their price target on shares of Gentex from $30.00 to $24.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, UBS Group lowered their target price on Gentex from $29.00 to $21.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $28.31.

Gentex Stock Performance

GNTX traded down $0.03 during trading hours on Friday, reaching $21.63. The company's stock had a trading volume of 1,292,711 shares, compared to its average volume of 1,724,552. The company's 50-day moving average is $23.02 and its 200-day moving average is $26.68. Gentex Co. has a 52 week low of $20.28 and a 52 week high of $35.33. The firm has a market cap of $4.89 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 0.84 and a beta of 0.84.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its earnings results on Friday, April 25th. The auto parts company reported $0.43 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.43. The company had revenue of $576.77 million during the quarter, compared to analysts' expectations of $578.68 million. Gentex had a net margin of 17.49% and a return on equity of 16.74%. Gentex's quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.47 EPS. Equities analysts anticipate that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, April 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.22%. Gentex's payout ratio is presently 28.07%.

About Gentex

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.