Gentex Co. (NASDAQ:GNTX) Position Increased by FORA Capital LLC

FORA Capital LLC lifted its position in Gentex Co. (NASDAQ:GNTX) by 12.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,174 shares of the auto parts company’s stock after acquiring an additional 3,672 shares during the period. FORA Capital LLC’s holdings in Gentex were worth $924,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in shares of Gentex by 162.4% during the fourth quarter. JPMorgan Chase & Co. now owns 5,249,230 shares of the auto parts company’s stock valued at $150,810,000 after buying an additional 3,248,434 shares in the last quarter. Norges Bank purchased a new stake in Gentex in the 4th quarter worth approximately $51,959,000. Wellington Management Group LLP grew its holdings in shares of Gentex by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 18,023,056 shares of the auto parts company’s stock valued at $517,802,000 after acquiring an additional 1,038,912 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Gentex in the fourth quarter worth $24,479,000. Finally, American Century Companies Inc. boosted its position in Gentex by 66.9% during the fourth quarter. American Century Companies Inc. now owns 1,657,397 shares of the auto parts company’s stock valued at $47,617,000 after purchasing an additional 664,389 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Stock Up 0.2 %

Shares of NASDAQ:GNTX opened at $22.21 on Friday. The business has a 50 day moving average price of $22.71 and a 200 day moving average price of $26.36. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 0.84 and a beta of 0.85. Gentex Co. has a twelve month low of $20.28 and a twelve month high of $35.33.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, April 25th. The auto parts company reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. The business had revenue of $576.77 million for the quarter, compared to analyst estimates of $578.68 million. Gentex had a net margin of 17.49% and a return on equity of 16.74%. Gentex’s revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 earnings per share. Analysts anticipate that Gentex Co. will post 2.04 EPS for the current year.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, April 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.16%. Gentex’s payout ratio is 28.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GNTX shares. Robert W. Baird reiterated a “neutral” rating and set a $25.00 price target (down from $31.00) on shares of Gentex in a report on Tuesday, April 15th. The Goldman Sachs Group dropped their price target on shares of Gentex from $28.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. JPMorgan Chase & Co. reduced their price objective on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. UBS Group lowered their target price on shares of Gentex from $29.00 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Finally, Guggenheim decreased their price target on Gentex from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $28.31.

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.