Freestone Grove Partners LP Invests $919,000 in Gentex Co. (NASDAQ:GNTX)

Freestone Grove Partners LP purchased a new stake in Gentex Co. (NASDAQ:GNTX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 32,001 shares of the auto parts company's stock, valued at approximately $919,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Midwest Capital Advisors LLC acquired a new position in shares of Gentex during the fourth quarter valued at about $26,000. TD Private Client Wealth LLC increased 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 purchasing an additional 662 shares in the last quarter. Synergy Asset Management LLC purchased a new stake in shares of Gentex in the fourth quarter worth approximately $34,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Gentex by 32.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,419 shares of the auto parts company's stock worth $70,000 after purchasing an additional 593 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Gentex in the fourth quarter valued at approximately $96,000. Institutional investors own 86.76% of the company's stock.

Wall Street Analysts Forecast Growth

GNTX has been the topic of several recent analyst reports. UBS Group dropped their price objective on Gentex from $29.00 to $21.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. B. Riley restated a "buy" rating and set a $32.50 price target (down from $37.00) on shares of Gentex in a report on Monday, February 3rd. The Goldman Sachs Group decreased their price objective on shares of Gentex from $28.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Baird R W downgraded Gentex from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Finally, Guggenheim decreased their price target 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $28.31.

Gentex Price Performance

NASDAQ:GNTX traded down $0.13 on Tuesday, reaching $21.49. 1,740,807 shares of the company's stock were exchanged, compared to its average volume of 1,736,659. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 0.84 and a beta of 0.85. The stock has a fifty day simple moving average of $22.90 and a 200-day simple moving average of $26.53. Gentex Co. has a 52 week low of $20.28 and a 52 week high of $35.33.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its 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 net margin of 17.49% and a return on equity of 16.74%. The business had revenue of $576.77 million for the quarter, compared to analysts' expectations of $578.68 million. During the same quarter in the previous year, the firm posted $0.47 EPS. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, sell-side analysts predict that Gentex Co. will post 2.04 EPS for the current year.

Gentex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Wednesday, April 9th. Gentex's payout ratio is presently 28.07%.

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.