Millennium Management LLC boosted its position in Gentex Co. (NASDAQ:GNTX - Free Report) by 888.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 569,608 shares of the auto parts company's stock after purchasing an additional 511,997 shares during the period. Millennium Management LLC owned about 0.25% of Gentex worth $16,365,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Midwest Capital Advisors LLC purchased a new position in Gentex in the fourth quarter valued at about $26,000. TD Private Client Wealth LLC increased its holdings in Gentex by 138.8% in the fourth quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company's stock valued at $33,000 after buying an additional 662 shares in the last quarter. Synergy Asset Management LLC purchased a new position in Gentex in the fourth quarter valued at about $34,000. LRI Investments LLC increased its holdings in Gentex by 33.2% in the fourth quarter. LRI Investments LLC now owns 2,750 shares of the auto parts company's stock valued at $79,000 after buying an additional 686 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in Gentex in the fourth quarter valued at about $96,000. Institutional investors and hedge funds own 86.76% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on GNTX. UBS Group dropped their target price on shares of Gentex from $29.00 to $21.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Baird R W cut shares of Gentex from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. The Goldman Sachs Group dropped their target price on shares of Gentex from $28.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Guggenheim dropped their target price on shares of Gentex from $30.00 to $24.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $25.00 target price (down from $31.00) on shares of Gentex in a report on Tuesday, April 15th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $28.31.
Get Our Latest Stock Analysis on GNTX
Gentex Stock Up 1.8%
Shares of GNTX traded up $0.38 during mid-day trading on Tuesday, reaching $22.00. 2,261,512 shares of the company's stock were exchanged, compared to its average volume of 1,811,365. The company has a 50-day simple moving average of $22.22 and a two-hundred day simple moving average of $25.66. Gentex Co. has a 52-week low of $20.28 and a 52-week high of $35.32. The company has a market cap of $4.95 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 0.84 and a beta of 0.85.
Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The auto parts company reported $0.43 earnings per share 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 last year, the company posted $0.47 EPS. The company's revenue was down 2.3% on a year-over-year basis. As a group, equities research analysts predict that Gentex Co. will post 2.04 EPS for the current fiscal year.
Gentex Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th were issued a $0.12 dividend. The ex-dividend date was Wednesday, April 9th. This represents a $0.48 annualized dividend and a yield of 2.18%. Gentex's dividend payout ratio (DPR) is presently 28.07%.
Insider Buying and Selling at Gentex
In other news, Director Joseph B. Anderson, Jr. sold 3,764 shares of Gentex stock in a transaction on 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. The trade was a 38.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.45% of the stock is currently owned by insiders.
Gentex Profile
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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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