Burgundy Asset Management Ltd. Grows Stake in Gentex Co. (NASDAQ:GNTX)

Burgundy Asset Management Ltd. grew its position in Gentex Co. (NASDAQ:GNTX - Free Report) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,516,817 shares of the auto parts company's stock after purchasing an additional 86,929 shares during the quarter. Gentex comprises approximately 1.6% of Burgundy Asset Management Ltd.'s investment portfolio, making the stock its 25th biggest position. Burgundy Asset Management Ltd. owned about 2.43% of Gentex worth $158,498,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Midwest Capital Advisors LLC bought a new position in Gentex during the 4th quarter worth $26,000. TD Private Client Wealth LLC grew its holdings in Gentex by 138.8% during the 4th quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company's stock worth $33,000 after acquiring an additional 662 shares during the period. Synergy Asset Management LLC bought a new position in shares of Gentex in the 4th quarter worth about $34,000. LRI Investments LLC lifted its stake in shares of Gentex by 33.2% in the 4th quarter. LRI Investments LLC now owns 2,750 shares of the auto parts company's stock valued at $79,000 after purchasing an additional 686 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Gentex during the fourth quarter worth approximately $96,000. Institutional investors and hedge funds own 86.76% of the company's stock.

Gentex Trading Down 0.7%

Shares of GNTX traded down $0.15 on Wednesday, reaching $21.85. 504,139 shares of the company's stock traded hands, compared to its average volume of 1,806,253. The stock's 50 day simple moving average is $22.22 and its two-hundred day simple moving average is $25.66. The stock has a market cap of $4.91 billion, a PE ratio of 12.41, a PEG ratio of 0.84 and a beta of 0.85. Gentex Co. has a 52-week low of $20.28 and a 52-week high of $35.32.

Gentex (NASDAQ:GNTX - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $576.77 million during the quarter, compared to the consensus estimate of $578.68 million. Gentex had a return on equity of 16.74% and a net margin of 17.49%. The business's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 EPS. Analysts forecast that Gentex Co. will post 2.04 earnings per share for the current year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.20%. Gentex's payout ratio is 28.07%.

Insider Activity

In related news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the business'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 sale, the director now directly owns 5,939 shares in the company, valued at approximately $135,824.93. The trade was a 38.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.45% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on GNTX shares. Baird R W lowered shares of Gentex from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Robert W. Baird reissued a "neutral" rating and set a $25.00 target price (down from $31.00) on shares of Gentex in a research report on Tuesday, April 15th. UBS Group dropped their price target on shares of Gentex from $29.00 to $21.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. JPMorgan Chase & Co. decreased their price objective on Gentex from $34.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, February 3rd. Finally, 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 note on Thursday, April 10th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus 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.