Gentex Co. (NASDAQ:GNTX) Stock Holdings Trimmed by Haverford Trust Co

Haverford Trust Co lessened its position in shares of Gentex Co. (NASDAQ:GNTX) by 38.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 275,897 shares of the auto parts company’s stock after selling 172,118 shares during the period. Haverford Trust Co’s holdings in Gentex were worth $7,927,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in GNTX. Empowered Funds LLC increased its stake in Gentex by 42.7% during the third quarter. Empowered Funds LLC now owns 21,748 shares of the auto parts company’s stock valued at $646,000 after purchasing an additional 6,505 shares during the last quarter. Commerce Bank grew its holdings in shares of Gentex by 20.7% during the third quarter. Commerce Bank now owns 16,468 shares of the auto parts company’s stock valued at $489,000 after purchasing an additional 2,827 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Gentex by 155.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 136,020 shares of the auto parts company’s stock worth $4,038,000 after purchasing an additional 82,701 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Gentex by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,554,823 shares of the auto parts company’s stock valued at $46,163,000 after purchasing an additional 6,106 shares during the period. Finally, Raymond James Trust N.A. increased its position in Gentex by 56.2% in the third quarter. Raymond James Trust N.A. now owns 16,427 shares of the auto parts company’s stock worth $488,000 after buying an additional 5,908 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Analyst Upgrades and Downgrades

GNTX has been the subject of several recent research reports. UBS Group lowered their price target on shares of Gentex from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price target on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Guggenheim set a $30.00 price objective on Gentex in a research report on Wednesday, March 5th. B. Riley reiterated a “buy” rating and set a $32.50 price target (down previously from $37.00) on shares of Gentex in a research report on Monday, February 3rd. Finally, Robert W. Baird set a $31.00 price objective on shares of Gentex in a report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Gentex has a consensus rating of “Hold” and a consensus price target of $31.81.

Gentex Price Performance

GNTX stock opened at $23.91 on Monday. The firm has a market cap of $5.43 billion, a PE ratio of 13.59, a P/E/G ratio of 0.84 and a beta of 0.90. Gentex Co. has a 12 month low of $23.50 and a 12 month high of $36.46. The firm has a 50 day simple moving average of $25.53 and a 200 day simple moving average of $28.24.

Gentex (NASDAQ:GNTX) last announced its 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 period in the previous 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 year.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.01%. The ex-dividend date is Wednesday, April 9th. Gentex’s payout ratio is 27.27%.

About Gentex

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.