Wells Fargo & Company MN decreased its position in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 16.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 276,118 shares of the auto parts company's stock after selling 54,991 shares during the period. Wells Fargo & Company MN owned approximately 0.12% of Gentex worth $7,933,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Smith Moore & CO. lifted its position in Gentex by 3.5% in the 4th quarter. Smith Moore & CO. now owns 18,666 shares of the auto parts company's stock worth $536,000 after buying an additional 632 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of Gentex during the fourth quarter worth approximately $644,000. Headlands Technologies LLC bought a new stake in shares of Gentex in the 4th quarter worth approximately $330,000. Geode Capital Management LLC boosted its stake in shares of Gentex by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 5,423,820 shares of the auto parts company's stock valued at $155,861,000 after purchasing an additional 55,816 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Gentex by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 18,023,056 shares of the auto parts company's stock valued at $517,802,000 after purchasing an additional 1,038,912 shares during the last quarter. Institutional investors own 86.76% of the company's stock.
Analyst Ratings Changes
Several analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Gentex from $34.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. The Goldman Sachs Group dropped their target price on Gentex from $28.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Robert W. Baird reaffirmed a "neutral" rating and issued a $25.00 price target (down from $31.00) on shares of Gentex in a research note on Tuesday, April 15th. Guggenheim dropped their price objective on Gentex from $30.00 to $24.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, UBS Group decreased their target price on shares of Gentex from $29.00 to $21.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $28.31.
Check Out Our Latest Stock Report on Gentex
Gentex Trading Up 1.3 %
GNTX traded up $0.29 during trading on Wednesday, reaching $22.04. The stock had a trading volume of 349,920 shares, compared to its average volume of 1,694,625. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of 12.52, a P/E/G ratio of 0.84 and a beta of 0.84. The stock's 50 day moving average is $23.40 and its two-hundred day moving average is $27.02. Gentex Co. has a one year low of $20.28 and a one year high of $35.33.
Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.10). Gentex had a net margin of 17.49% and a return on equity of 16.74%. During the same quarter in the previous year, the firm earned $0.50 EPS. On average, equities research analysts predict that Gentex Co. will post 2.04 earnings per share for the current year.
Gentex Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $0.48 annualized dividend and a dividend yield of 2.18%. Gentex's payout ratio is currently 27.27%.
About Gentex
(
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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