Occudo Quantitative Strategies LP Makes New $697,000 Investment in Gentex Co. (NASDAQ:GNTX)

Occudo Quantitative Strategies LP bought a new stake in Gentex Co. (NASDAQ:GNTX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 24,264 shares of the auto parts company's stock, valued at approximately $697,000.

A number of other hedge funds have also recently modified their holdings of GNTX. Midwest Capital Advisors LLC purchased a new stake in Gentex in the fourth quarter valued at $26,000. TD Private Client Wealth LLC increased its position in shares of Gentex by 138.8% during the fourth 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 4th quarter valued at about $34,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Gentex by 32.5% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,419 shares of the auto parts company's stock valued at $70,000 after purchasing an additional 593 shares during the period. Finally, LRI Investments LLC grew its stake in Gentex by 33.2% during the 4th quarter. LRI Investments LLC now owns 2,750 shares of the auto parts company's stock worth $79,000 after buying an additional 686 shares during the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on GNTX. JPMorgan Chase & Co. lowered their price target on Gentex from $34.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. B. Riley reiterated a "buy" rating and issued a $32.50 target price (down from $37.00) on shares of Gentex in a research note on Monday, February 3rd. Baird R W lowered Gentex from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Guggenheim decreased their price target on Gentex from $30.00 to $24.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, The Goldman Sachs Group lowered their price objective on shares of Gentex from $28.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $28.31.

Gentex Stock Performance

Gentex stock opened at $22.72 on Thursday. Gentex Co. has a fifty-two week low of $20.28 and a fifty-two week high of $35.32. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 12.91, a price-to-earnings-growth ratio of 0.84 and a beta of 0.85. The stock's fifty day moving average is $22.59 and its two-hundred day moving average is $26.21.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The auto parts company reported $0.43 EPS for the quarter, meeting analysts' consensus estimates of $0.43. The firm had revenue of $576.77 million for the quarter, compared to analysts' expectations of $578.68 million. Gentex had a net margin of 17.49% and a return on equity of 16.74%. The firm's revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.47 EPS. As a group, sell-side analysts forecast that Gentex Co. will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, April 9th. This represents a $0.48 annualized dividend and a dividend yield of 2.11%. Gentex's dividend payout ratio is currently 28.07%.

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.

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