Gentex Co. (NASDAQ:GNTX) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in shares of Gentex Co. (NASDAQ:GNTX) by 6.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 138,815 shares of the auto parts company’s stock after selling 10,100 shares during the period. PNC Financial Services Group Inc. owned 0.06% of Gentex worth $3,988,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Midwest Capital Advisors LLC acquired a new stake in Gentex during the fourth quarter worth $26,000. Synergy Asset Management LLC acquired a new stake in shares of Gentex during the 4th quarter worth about $34,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Gentex by 32.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,419 shares of the auto parts company’s stock worth $70,000 after purchasing an additional 593 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Gentex during the third quarter valued at about $125,000. Finally, GAMMA Investing LLC increased its position in shares of Gentex by 159.1% during the fourth quarter. GAMMA Investing LLC now owns 5,133 shares of the auto parts company’s stock valued at $147,000 after acquiring an additional 3,152 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Gentex Stock Performance

Shares of Gentex stock opened at $23.86 on Friday. Gentex Co. has a one year low of $23.63 and a one year high of $36.75. The company has a market cap of $5.42 billion, a PE ratio of 13.56, a P/E/G ratio of 0.84 and a beta of 0.90. The business has a 50-day simple moving average of $25.94 and a 200-day simple moving average of $28.57.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, January 31st. The auto parts company reported $0.39 earnings per share for the quarter, missing the consensus estimate 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 period last year, the company earned $0.50 earnings per share. On average, sell-side analysts predict that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Wednesday, April 9th. Gentex’s dividend payout ratio (DPR) is presently 27.27%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their target price 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. UBS Group dropped their price objective on Gentex from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Guggenheim set a $30.00 target price on Gentex in a research note on Wednesday, March 5th. B. Riley reaffirmed 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. Finally, Robert W. Baird set a $31.00 price target 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 issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $31.81.

About Gentex

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.