Hennion & Walsh Asset Management Inc. reduced its holdings in shares of Gentex Co. (NASDAQ:GNTX – Get Rating) by 8.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,000 shares of the auto parts company's stock after selling 1,366 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Gentex were worth $420,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of GNTX. Ariel Investments LLC grew its position in Gentex by 92.4% during the first quarter. Ariel Investments LLC now owns 8,174,011 shares of the auto parts company's stock valued at $238,436,000 after acquiring an additional 3,925,355 shares during the last quarter. Cooke & Bieler LP boosted its stake in shares of Gentex by 37.9% during the first quarter. Cooke & Bieler LP now owns 5,332,397 shares of the auto parts company's stock valued at $155,546,000 after purchasing an additional 1,466,490 shares during the period. Marshall Wace LLP lifted its stake in Gentex by 1,797.6% in the fourth quarter. Marshall Wace LLP now owns 1,241,395 shares of the auto parts company's stock worth $43,262,000 after acquiring an additional 1,175,976 shares during the period. Beutel Goodman & Co Ltd. raised its holdings in Gentex by 18.1% in the first quarter. Beutel Goodman & Co Ltd. now owns 4,978,316 shares of the auto parts company's stock worth $145,217,000 after purchasing an additional 762,037 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Gentex by 13.3% in the first quarter. Wellington Management Group LLP now owns 3,446,434 shares of the auto parts company's stock worth $100,532,000 after purchasing an additional 404,781 shares in the last quarter. 86.54% of the stock is currently owned by institutional investors.
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Analyst Ratings Changes
Several equities research analysts recently commented on the company. StockNews.com downgraded Gentex from a "buy" rating to a "hold" rating in a report on Saturday, August 6th. Guggenheim lowered their price target on Gentex to $33.00 in a report on Monday, July 25th. Bank of America lowered their price target on Gentex from $31.00 to $30.00 in a report on Friday, September 9th. B. Riley lowered their price target on Gentex from $37.50 to $35.00 and set a "buy" rating on the stock in a report on Monday, July 25th. Finally, TheStreet cut Gentex from a "b-" rating to a "c" rating in a report on Friday, July 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $31.40.
Gentex Price Performance
NASDAQ:GNTX opened at $24.49 on Tuesday. Gentex Co. has a 1 year low of $23.70 and a 1 year high of $37.90. The stock's 50 day simple moving average is $27.13 and its two-hundred day simple moving average is $28.29. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 1.16 and a beta of 0.89.
Gentex (NASDAQ:GNTX – Get Rating) last released its quarterly earnings data on Friday, July 22nd. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.07). Gentex had a return on equity of 16.58% and a net margin of 18.32%. The firm had revenue of $463.42 million during the quarter, compared to the consensus estimate of $472.24 million. As a group, analysts anticipate that Gentex Co. will post 1.48 EPS for the current year.
Gentex Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Friday, October 7th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, October 6th. Gentex's dividend payout ratio is currently 35.56%.
Gentex Profile
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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, 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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