Gentex Co. (NASDAQ:GNTX) Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC lowered its position in shares of Gentex Co. (NASDAQ:GNTX) by 63.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 9,800 shares of the auto parts company’s stock after selling 16,750 shares during the quarter. Welch & Forbes LLC’s holdings in Gentex were worth $282,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GNTX. Lindenwold Advisors INC raised its stake in shares of Gentex by 2.8% in the third 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 during the last quarter. Coldstream Capital Management Inc. raised its position in Gentex by 5.8% during 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 during the last quarter. 180 Wealth Advisors LLC raised its position in Gentex by 0.7% during 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 during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Gentex by 6.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 7,445 shares of the auto parts company’s stock valued at $214,000 after acquiring an additional 457 shares during the period. Finally, Intellectus Partners LLC boosted its holdings in shares of Gentex by 6.1% in the 3rd quarter. Intellectus Partners LLC now owns 8,452 shares of the auto parts company’s stock valued at $251,000 after acquiring an additional 484 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GNTX. Guggenheim reduced their target price on shares of Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, November 21st. UBS Group decreased their price objective on Gentex from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. JPMorgan Chase & Co. lowered their target price on Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. B. Riley reiterated 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. Finally, Robert W. Baird set a $31.00 price target on Gentex in a 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.31.

Gentex Stock Up 1.2 %

Shares of Gentex stock opened at $25.39 on Friday. The firm has a market cap of $5.77 billion, a PE ratio of 14.43, a P/E/G ratio of 0.84 and a beta of 0.90. The business has a 50-day moving average price of $26.25 and a 200 day moving average price of $28.72. Gentex Co. has a twelve month low of $23.63 and a twelve month high of $36.75.

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

Gentex Dividend Announcement

The business 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 dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Wednesday, April 9th. 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.