Gentex Co. (NASDAQ:GNTX) Holdings Trimmed by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in Gentex Co. (NASDAQ:GNTX - Free Report) by 8.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,894,468 shares of the auto parts company's stock after selling 181,471 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.83% of Gentex worth $54,428,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP increased its position in 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 buying an additional 1,038,912 shares during the period. Geode Capital Management LLC grew its position in shares of Gentex by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 5,423,820 shares of the auto parts company's stock worth $155,861,000 after acquiring an additional 55,816 shares during the last quarter. TD Asset Management Inc. increased its holdings in shares of Gentex by 7.1% in the 4th quarter. TD Asset Management Inc. now owns 5,415,871 shares of the auto parts company's stock worth $155,598,000 after acquiring an additional 356,854 shares during the period. JPMorgan Chase & Co. lifted its position in Gentex by 162.4% in the 4th quarter. JPMorgan Chase & Co. now owns 5,249,230 shares of the auto parts company's stock valued at $150,810,000 after purchasing an additional 3,248,434 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Gentex by 4.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,495,516 shares of the auto parts company's stock valued at $129,156,000 after purchasing an additional 192,375 shares during the last quarter. Institutional investors own 86.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. B. Riley restated a "buy" rating and issued a $32.50 target price (down previously from $37.00) on shares of Gentex in a research report on Monday, February 3rd. The Goldman Sachs Group decreased their price objective on Gentex from $28.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. UBS Group cut their target price on Gentex from $29.00 to $21.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. JPMorgan Chase & Co. reduced their price target on Gentex from $34.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. Finally, Robert W. Baird reissued a "neutral" rating and set a $25.00 price target (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 given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $28.31.

Gentex Stock Up 1.3%

NASDAQ GNTX traded up $0.28 on Thursday, reaching $21.76. 1,150,423 shares of the stock traded hands, compared to its average volume of 1,812,464. Gentex Co. has a 12 month low of $20.28 and a 12 month high of $35.32. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 0.84 and a beta of 0.85. The firm's fifty day simple moving average is $22.17 and its 200 day simple moving average is $25.63.

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

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, July 9th. This represents a $0.48 annualized dividend and a dividend yield of 2.21%. Gentex's dividend payout ratio (DPR) is 28.07%.

Insider Transactions at Gentex

In other news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $22.87, for a total transaction of $86,082.68. Following the completion of the sale, the director now directly owns 5,939 shares of the company's stock, valued at $135,824.93. This trade represents a 38.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.45% of the company's stock.

Gentex 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.