Gentex Co. (NASDAQ:GNTX) Stock Position Lifted by Allworth Financial LP

Allworth Financial LP boosted its stake in shares of Gentex Co. (NASDAQ:GNTX) by 956.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,720 shares of the auto parts company’s stock after purchasing an additional 6,084 shares during the period. Allworth Financial LP’s holdings in Gentex were worth $188,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GNTX. Creative Planning grew its position in Gentex by 27.7% during the third quarter. Creative Planning now owns 77,519 shares of the auto parts company’s stock valued at $2,302,000 after purchasing an additional 16,834 shares in the last quarter. Raymond James & Associates grew its position in Gentex by 1.9% during the third quarter. Raymond James & Associates now owns 663,302 shares of the auto parts company’s stock valued at $19,693,000 after purchasing an additional 12,418 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in Gentex by 4.3% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 58,442 shares of the auto parts company’s stock valued at $1,735,000 after purchasing an additional 2,388 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Gentex by 24.9% during the third quarter. Assenagon Asset Management S.A. now owns 76,016 shares of the auto parts company’s stock valued at $2,257,000 after purchasing an additional 15,145 shares in the last quarter. Finally, BayBridge Capital Group LLC grew its position in Gentex by 11.8% during the third quarter. BayBridge Capital Group LLC now owns 13,833 shares of the auto parts company’s stock valued at $411,000 after purchasing an additional 1,456 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on GNTX. Guggenheim decreased their target price on shares of Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. UBS Group decreased their target price on shares of Gentex from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. decreased their target price 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. Robert W. Baird set a $31.00 target price on shares of Gentex in a research report on Monday, February 3rd. Finally, B. Riley reissued a “buy” rating and issued a $32.50 target price (down from $37.00) on shares of Gentex in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Gentex currently has a consensus rating of “Hold” and a consensus price target of $32.31.

Gentex Trading Down 0.9 %

Shares of Gentex stock opened at $24.37 on Friday. The firm has a fifty day simple moving average of $27.21 and a 200-day simple moving average of $29.04. Gentex Co. has a 1-year low of $24.20 and a 1-year high of $37.58. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 0.84 and a beta of 0.91.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, January 31st. The auto parts company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.10). Gentex had a return on equity of 16.74% and a net margin of 17.49%. During the same quarter last year, the firm earned $0.50 earnings per share. As a group, research analysts predict that Gentex Co. will post 2.04 earnings per share for the current year.

Gentex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.97%. The ex-dividend date was Wednesday, January 8th. Gentex’s payout ratio is currently 27.27%.

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.