Raymond James Financial Inc. Makes New Investment in Gentex Co. (NASDAQ:GNTX)

Raymond James Financial Inc. bought a new position in shares of Gentex Co. (NASDAQ:GNTX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 852,022 shares of the auto parts company’s stock, valued at approximately $24,479,000. Raymond James Financial Inc. owned 0.37% of Gentex as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of GNTX. Atria Investments Inc grew its holdings in Gentex by 2.0% during the 3rd quarter. Atria Investments Inc now owns 28,940 shares of the auto parts company’s stock worth $859,000 after acquiring an additional 577 shares during the period. KBC Group NV grew its holdings in shares of Gentex by 13.3% in the 3rd quarter. KBC Group NV now owns 5,664 shares of the auto parts company’s stock valued at $168,000 after buying an additional 667 shares during the period. Intellectus Partners LLC grew its holdings in shares of Gentex by 6.1% in the 3rd quarter. Intellectus Partners LLC now owns 8,452 shares of the auto parts company’s stock valued at $251,000 after buying an additional 484 shares during the period. Empowered Funds LLC grew its holdings in shares of Gentex by 42.7% in the 3rd quarter. Empowered Funds LLC now owns 21,748 shares of the auto parts company’s stock valued at $646,000 after buying an additional 6,505 shares during the period. Finally, Natixis Advisors LLC grew its holdings in shares of Gentex by 14.4% in the 3rd quarter. Natixis Advisors LLC now owns 415,379 shares of the auto parts company’s stock valued at $12,333,000 after buying an additional 52,205 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Price Performance

Shares of NASDAQ:GNTX opened at $24.31 on Friday. The company’s 50-day moving average price is $25.87 and its two-hundred day moving average price is $28.50. Gentex Co. has a one year low of $23.63 and a one year high of $36.75. The stock has a market capitalization of $5.52 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 0.84 and a beta of 0.90.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, January 31st. The auto parts company reported $0.39 EPS for the quarter, missing the consensus estimate 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 in the prior year, the firm earned $0.50 EPS. On average, analysts anticipate that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $0.48 annualized dividend and a yield of 1.97%. Gentex’s dividend payout ratio (DPR) is presently 27.27%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Guggenheim set a $30.00 price target on shares of Gentex in a report on Wednesday, March 5th. B. Riley reissued a “buy” rating and issued a $32.50 price target (down previously from $37.00) on shares of Gentex in a report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price target on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Robert W. Baird set a $31.00 price objective on shares of Gentex in a research report on Monday, February 3rd. Finally, UBS Group cut their price objective on shares of Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $31.81.

Gentex Company 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.