Gotham Asset Management LLC Grows Stake in Gentex Co. (NASDAQ:GNTX)

Gotham Asset Management LLC grew its holdings in Gentex Co. (NASDAQ:GNTX) by 52.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 369,414 shares of the auto parts company’s stock after buying an additional 126,757 shares during the quarter. Gotham Asset Management LLC owned approximately 0.16% of Gentex worth $10,613,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP lifted its position in shares of Gentex by 6.1% in the 4th quarter. Wellington Management Group LLP now owns 18,023,056 shares of the auto parts company’s stock worth $517,802,000 after purchasing an additional 1,038,912 shares during the period. Geode Capital Management LLC lifted its stake in shares of Gentex by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 5,423,820 shares of the auto parts company’s stock valued at $155,861,000 after purchasing an additional 55,816 shares during the period. TD Asset Management Inc. lifted its stake in shares of Gentex by 7.1% in the 4th quarter. TD Asset Management Inc. now owns 5,415,871 shares of the auto parts company’s stock valued at $155,598,000 after purchasing an additional 356,854 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Gentex by 162.4% in the 4th quarter. JPMorgan Chase & Co. now owns 5,249,230 shares of the auto parts company’s stock valued at $150,810,000 after purchasing an additional 3,248,434 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Gentex by 4.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,495,516 shares of the auto parts company’s stock valued at $129,156,000 after purchasing an additional 192,375 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GNTX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their target price on Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. B. Riley reissued a “buy” rating and set a $32.50 price target (down from $37.00) on shares of Gentex in a research report on Monday, February 3rd. The Goldman Sachs Group lowered their price target on shares of Gentex from $28.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Guggenheim lowered their price objective on Gentex from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Finally, Baird R W cut Gentex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $28.31.

Gentex Price Performance

GNTX stock opened at $22.21 on Monday. Gentex Co. has a 1-year low of $20.28 and a 1-year high of $35.33. The business has a fifty day moving average price of $22.71 and a 200-day moving average price of $26.31. The stock has a market capitalization of $4.99 billion, a P/E ratio of 12.62, a P/E/G ratio of 0.84 and a beta of 0.85.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, April 25th. The auto parts company reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. Gentex had a net margin of 17.49% and a return on equity of 16.74%. The firm had revenue of $576.77 million during the quarter, compared to analysts’ expectations of $578.68 million. During the same period in the previous year, the company earned $0.47 earnings per share. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, analysts anticipate that Gentex Co. will post 2.04 earnings per share for the current year.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, April 9th. This represents a $0.48 annualized dividend and a dividend yield of 2.16%. Gentex’s payout ratio is 28.07%.

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.