Chevy Chase Trust Holdings LLC Reduces Holdings in Gentex Co. (NASDAQ:GNTX)

Chevy Chase Trust Holdings LLC decreased its position in shares of Gentex Co. (NASDAQ:GNTX) by 4.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 79,982 shares of the auto parts company’s stock after selling 3,713 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Gentex were worth $2,696,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in GNTX. Vanguard Group Inc. grew its stake in shares of Gentex by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 22,280,716 shares of the auto parts company’s stock valued at $727,688,000 after purchasing an additional 163,373 shares during the last quarter. Wellington Management Group LLP grew its position in Gentex by 27.9% in the 4th quarter. Wellington Management Group LLP now owns 8,728,378 shares of the auto parts company’s stock valued at $285,069,000 after buying an additional 1,905,356 shares during the last quarter. Boston Partners grew its position in Gentex by 4.2% in the 1st quarter. Boston Partners now owns 5,706,411 shares of the auto parts company’s stock valued at $206,095,000 after buying an additional 230,873 shares during the last quarter. TD Asset Management Inc grew its position in Gentex by 41.2% in the 1st quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock valued at $168,957,000 after buying an additional 1,363,898 shares during the last quarter. Finally, Burgundy Asset Management Ltd. boosted its holdings in shares of Gentex by 1.2% in the first quarter. Burgundy Asset Management Ltd. now owns 4,217,464 shares of the auto parts company’s stock valued at $152,335,000 after acquiring an additional 48,435 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Price Performance

NASDAQ:GNTX opened at $30.44 on Friday. The firm has a 50 day simple moving average of $32.19 and a 200-day simple moving average of $34.13. The firm has a market cap of $7.04 billion, a PE ratio of 16.11, a P/E/G ratio of 0.91 and a beta of 0.93. Gentex Co. has a 1-year low of $27.86 and a 1-year high of $37.58.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, July 26th. The auto parts company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.15). The business had revenue of $572.93 million during the quarter, compared to analyst estimates of $623.28 million. Gentex had a net margin of 17.87% and a return on equity of 17.78%. As a group, sell-side analysts expect that Gentex Co. will post 2.02 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 17th. Stockholders of record on Friday, July 5th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Friday, July 5th. Gentex’s dividend payout ratio is currently 25.40%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. BNP Paribas lowered Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a report on Tuesday, July 30th. JPMorgan Chase & Co. decreased their target price on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. StockNews.com lowered shares of Gentex from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. Robert W. Baird decreased their price objective on shares of Gentex from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. Finally, B. Riley dropped their target price on shares of Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a report on Monday, July 29th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $37.33.

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.