XXEC Inc. Sells 12,423 Shares of Gentex Co. (NASDAQ:GNTX)

XXEC Inc. lowered its position in Gentex Co. (NASDAQ:GNTX) by 7.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 159,883 shares of the auto parts company’s stock after selling 12,423 shares during the period. Gentex accounts for 3.8% of XXEC Inc.’s portfolio, making the stock its 12th largest holding. XXEC Inc. owned 0.07% of Gentex worth $4,593,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. raised its holdings in Gentex by 104.9% during the third quarter. Harbor Capital Advisors Inc. now owns 81,506 shares of the auto parts company’s stock valued at $2,420,000 after buying an additional 41,732 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Gentex by 74.6% during the 3rd quarter. Van ECK Associates Corp now owns 309,668 shares of the auto parts company’s stock valued at $9,141,000 after acquiring an additional 132,322 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Gentex by 2.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 215,779 shares of the auto parts company’s stock valued at $6,406,000 after acquiring an additional 5,424 shares in the last quarter. Radnor Capital Management LLC bought a new position in shares of Gentex in the 3rd quarter valued at approximately $267,000. Finally, Advisor Resource Council acquired a new stake in Gentex in the 3rd quarter worth approximately $438,000. Institutional investors own 86.76% of the company’s stock.

Gentex Price Performance

NASDAQ GNTX opened at $24.00 on Wednesday. The company’s fifty day moving average is $26.50 and its two-hundred day moving average is $28.82. Gentex Co. has a 52-week low of $23.63 and a 52-week high of $37.58. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 0.84 and a beta of 0.91.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates 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 period last year, the company earned $0.50 EPS. As a group, sell-side analysts expect that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.00%. Gentex’s payout ratio is 27.27%.

Analyst Ratings Changes

GNTX has been the topic of several analyst reports. B. Riley reiterated a “buy” rating and set a $32.50 price target (down previously from $37.00) on shares of Gentex in a report on Monday, February 3rd. Guggenheim lowered their target price on shares of Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Robert W. Baird set a $31.00 target price on shares of Gentex in a report on Monday, February 3rd. UBS Group decreased their price target on shares of Gentex from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $32.31.

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.