Gentex Co. (NASDAQ:GNTX) Shares Acquired by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. raised its holdings in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,516,817 shares of the auto parts company's stock after acquiring an additional 86,929 shares during the quarter. Gentex makes up 1.6% of Burgundy Asset Management Ltd.'s investment portfolio, making the stock its 25th largest position. Burgundy Asset Management Ltd. owned approximately 2.43% of Gentex worth $158,498,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GNTX. JPMorgan Chase & Co. raised its holdings in shares of 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 last quarter. Norges Bank acquired a new position in shares of Gentex in the fourth quarter worth $51,959,000. Wellington Management Group LLP raised its holdings in shares of Gentex by 6.1% in 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 during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Gentex in the fourth quarter worth $24,479,000. Finally, American Century Companies Inc. raised its holdings in shares of Gentex by 66.9% in the fourth quarter. American Century Companies Inc. now owns 1,657,397 shares of the auto parts company's stock worth $47,617,000 after acquiring an additional 664,389 shares during the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Gentex

In other news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $22.87, for a total value of $86,082.68. Following the completion of the sale, the director now owns 5,939 shares of the company's stock, valued at $135,824.93. This represents a 38.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.45% of the company's stock.

Gentex Price Performance

GNTX stock traded up $0.38 during trading on Tuesday, reaching $22.00. 2,125,495 shares of the stock traded hands, compared to its average volume of 1,811,365. The business's 50 day moving average price is $22.26 and its 200-day moving average price is $25.68. Gentex Co. has a 52-week low of $20.28 and a 52-week high of $35.32. The firm has a market capitalization of $4.95 billion, a PE ratio of 12.50, a P/E/G ratio of 0.84 and a beta of 0.85.

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

Gentex Dividend Announcement

The business 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. This represents a $0.48 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Wednesday, April 9th. Gentex's payout ratio is 28.07%.

Analysts Set New Price Targets

GNTX has been the subject of a number of analyst reports. B. Riley reissued a "buy" rating and issued a $32.50 price target (down from $37.00) on shares of Gentex in a report on Monday, February 3rd. UBS Group lowered their price objective on Gentex from $29.00 to $21.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Robert W. Baird reaffirmed a "neutral" rating and issued a $25.00 price objective (down previously from $31.00) on shares of Gentex in a research report on Tuesday, April 15th. The Goldman Sachs Group lowered 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. Finally, Guggenheim lowered their price objective on Gentex from $30.00 to $24.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $28.31.

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.