AQR Capital Management LLC lifted its holdings in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 36.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 155,234 shares of the auto parts company's stock after acquiring an additional 41,649 shares during the quarter. AQR Capital Management LLC owned 0.07% of Gentex worth $4,460,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in Gentex by 16.1% in the fourth quarter. Bank of New York Mellon Corp now owns 2,787,311 shares of the auto parts company's stock worth $80,079,000 after purchasing an additional 386,461 shares in the last quarter. LPL Financial LLC increased its stake in shares of Gentex by 31.6% in the fourth quarter. LPL Financial LLC now owns 189,254 shares of the auto parts company's stock worth $5,437,000 after purchasing an additional 45,475 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Gentex in the 4th quarter worth approximately $24,479,000. Marshall Wace LLP bought a new stake in Gentex in the 4th quarter valued at $10,868,000. Finally, BCGM Wealth Management LLC raised its holdings in shares of Gentex by 64.2% during the 4th quarter. BCGM Wealth Management LLC now owns 56,743 shares of the auto parts company's stock worth $1,630,000 after acquiring an additional 22,180 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors.
Gentex Stock Down 0.9%
Shares of GNTX stock traded down $0.22 during trading on Tuesday, reaching $23.15. The company's stock had a trading volume of 2,237,760 shares, compared to its average volume of 1,750,367. The company has a market cap of $5.20 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 0.84 and a beta of 0.85. The business has a fifty day moving average price of $22.69 and a 200-day moving average price of $26.26. Gentex Co. has a one year low of $20.28 and a one year high of $35.32.
Gentex (NASDAQ:GNTX - Get Free Report) last released its quarterly earnings data 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. Gentex had a net margin of 17.49% and a return on equity of 16.74%. The business had revenue of $576.77 million during the quarter, compared to analysts' expectations of $578.68 million. During the same period in the prior year, the company earned $0.47 EPS. The firm's quarterly revenue was down 2.3% compared to the same quarter last year. Research analysts anticipate that Gentex Co. will post 2.04 EPS for the current year.
Gentex Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Wednesday, April 9th. Gentex's payout ratio is 28.07%.
Wall Street Analyst Weigh In
Several research analysts recently commented on GNTX shares. Guggenheim reduced their price objective on shares of Gentex from $30.00 to $24.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. The Goldman Sachs Group dropped their price objective on Gentex from $28.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Baird R W lowered shares of Gentex from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. decreased their target price on Gentex from $34.00 to $32.00 and set a "neutral" rating for the company in a research note on Monday, February 3rd. Finally, Robert W. Baird reissued a "neutral" rating and issued a $25.00 price objective (down previously from $31.00) on shares of Gentex in a research note on Tuesday, April 15th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Gentex has an average rating of "Hold" and an average price target of $28.31.
Read Our Latest Stock Report on GNTX
About Gentex
(
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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