Wellington Management Group LLP Increases Stake in Gentex Co. (NASDAQ:GNTX)

Wellington Management Group LLP raised its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 6.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,023,056 shares of the auto parts company’s stock after acquiring an additional 1,038,912 shares during the quarter. Wellington Management Group LLP owned approximately 0.08% of Gentex worth $517,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Schroder Investment Management Group raised its holdings in Gentex by 7.1% in the 4th quarter. Schroder Investment Management Group now owns 838,907 shares of the auto parts company’s stock worth $23,993,000 after purchasing an additional 55,361 shares during the period. Pictet Asset Management Holding SA increased its position in Gentex by 11.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 34,075 shares of the auto parts company’s stock worth $979,000 after buying an additional 3,515 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Gentex by 331.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 4,572 shares of the auto parts company’s stock worth $131,000 after buying an additional 3,512 shares during the period. New Age Alpha Advisors LLC purchased a new position in shares of Gentex during the 4th quarter valued at about $1,300,000. Finally, Triodos Investment Management BV lifted its position in shares of Gentex by 6.7% during the 4th quarter. Triodos Investment Management BV now owns 801,000 shares of the auto parts company’s stock valued at $23,013,000 after buying an additional 50,000 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on GNTX. Robert W. Baird set a $31.00 target price on shares of Gentex in a research note on Monday, February 3rd. Guggenheim set a $30.00 price objective on shares of Gentex in a research report on Wednesday, March 5th. B. Riley reaffirmed a “buy” rating and issued a $32.50 target price (down previously from $37.00) on shares of Gentex in a report on Monday, February 3rd. 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. Finally, JPMorgan Chase & Co. lowered their price objective on Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $31.81.

Gentex Stock Down 0.4 %

Shares of Gentex stock opened at $23.30 on Tuesday. Gentex Co. has a twelve month low of $22.87 and a twelve month high of $36.46. The business has a 50-day moving average price of $25.11 and a 200-day moving average price of $28.01. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 0.84 and a beta of 0.90.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share 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 firm posted $0.50 EPS. On average, equities analysts expect that Gentex Co. will post 2.04 EPS for the current fiscal year.

Gentex Dividend Announcement

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 paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.06%. 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.