Gentex Co. (NASDAQ:GNTX) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its position in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 14.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 224,316 shares of the auto parts company's stock after selling 39,020 shares during the period. Envestnet Asset Management Inc. owned 0.10% of Gentex worth $6,445,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Grantham Mayo Van Otterloo & Co. LLC grew its position in Gentex by 4.0% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,237,837 shares of the auto parts company's stock valued at $35,563,000 after purchasing an additional 47,832 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Gentex during the fourth quarter valued at approximately $1,195,000. Smith Moore & CO. lifted its stake in Gentex by 3.5% in the 4th quarter. Smith Moore & CO. now owns 18,666 shares of the auto parts company's stock worth $536,000 after purchasing an additional 632 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of Gentex during the 4th quarter valued at approximately $644,000. Finally, Headlands Technologies LLC bought a new position in shares of Gentex in the 4th quarter valued at about $330,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on GNTX shares. The Goldman Sachs Group dropped their target price on Gentex from $28.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. B. Riley reiterated a "buy" rating and issued a $32.50 price target (down from $37.00) on shares of Gentex in a research note on Monday, February 3rd. Guggenheim decreased their target price on Gentex from $30.00 to $24.00 and set a "buy" rating for the company in a report on Tuesday. JPMorgan Chase & Co. lowered their price objective on Gentex from $34.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday, February 3rd. Finally, Robert W. Baird restated a "neutral" rating and set a $25.00 price objective (down from $31.00) on shares of Gentex in a research report on Tuesday, April 15th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $28.31.

Gentex Stock Down 1.2 %

NASDAQ:GNTX traded down $0.27 on Friday, reaching $21.70. The company's stock had a trading volume of 637,922 shares, compared to its average volume of 1,708,852. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 0.84 and a beta of 0.84. Gentex Co. has a 12-month low of $20.28 and a 12-month high of $35.33. The stock has a 50 day moving average price of $23.30 and a 200 day moving average price of $26.93.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.10). Gentex had a return on equity of 16.74% and a net margin of 17.49%. During the same period last year, the business posted $0.50 EPS. Equities research analysts expect that Gentex Co. will post 2.04 EPS for the current fiscal year.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.21%. The ex-dividend date was Wednesday, April 9th. Gentex's dividend payout ratio (DPR) is presently 27.27%.

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.