Illumine Investment Management LLC Invests $1.76 Million in Gentex Co. (NASDAQ:GNTX)

Illumine Investment Management LLC acquired a new position in Gentex Co. (NASDAQ:GNTX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 61,299 shares of the auto parts company’s stock, valued at approximately $1,761,000. Gentex makes up 1.4% of Illumine Investment Management LLC’s investment portfolio, making the stock its 29th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Lindenwold Advisors INC increased its stake in shares of Gentex by 2.8% in the 3rd quarter. Lindenwold Advisors INC now owns 12,539 shares of the auto parts company’s stock worth $372,000 after purchasing an additional 347 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in Gentex by 5.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,446 shares of the auto parts company’s stock worth $221,000 after buying an additional 408 shares in the last quarter. 180 Wealth Advisors LLC increased its stake in Gentex by 0.7% in the 4th quarter. 180 Wealth Advisors LLC now owns 65,805 shares of the auto parts company’s stock worth $1,891,000 after buying an additional 437 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in Gentex by 6.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 7,445 shares of the auto parts company’s stock worth $214,000 after buying an additional 457 shares in the last quarter. Finally, Intellectus Partners LLC increased its stake in Gentex by 6.1% in the 3rd quarter. Intellectus Partners LLC now owns 8,452 shares of the auto parts company’s stock worth $251,000 after buying an additional 484 shares in the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on GNTX. UBS Group cut their price target on Gentex from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. dropped their price target on Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Guggenheim dropped their target price on Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. B. Riley reiterated 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. Finally, Robert W. Baird set a $31.00 price target on Gentex in a report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Gentex presently has a consensus rating of “Hold” and a consensus target price of $32.31.

Gentex Stock Performance

NASDAQ:GNTX opened at $24.32 on Friday. Gentex Co. has a one year low of $24.10 and a one year high of $37.58. The firm has a market cap of $5.53 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 0.84 and a beta of 0.91. The firm’s fifty day moving average is $26.80 and its two-hundred day moving average is $28.92.

Gentex (NASDAQ:GNTX) last posted 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 net margin of 17.49% and a return on equity of 16.74%. During the same quarter in the previous year, the business earned $0.50 earnings per share. As a group, equities research analysts predict that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.97%. Gentex’s payout ratio is 27.27%.

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.