Lindenwold Advisors INC Cuts Holdings in Gentex Co. (NASDAQ:GNTX)

Lindenwold Advisors INC trimmed its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 3.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,065 shares of the auto parts company’s stock after selling 474 shares during the period. Lindenwold Advisors INC’s holdings in Gentex were worth $347,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of Gentex by 179.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company’s stock worth $59,404,000 after buying an additional 1,285,519 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Gentex by 16.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,787,311 shares of the auto parts company’s stock worth $80,079,000 after buying an additional 386,461 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Gentex by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company’s stock worth $159,406,000 after buying an additional 285,802 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Gentex during the 4th quarter worth approximately $24,479,000. Finally, BCGM Wealth Management LLC grew its holdings in shares of Gentex by 64.2% in the 4th quarter. BCGM Wealth Management LLC now owns 56,743 shares of the auto parts company’s stock worth $1,630,000 after acquiring an additional 22,180 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Robert W. Baird set a $31.00 price target on Gentex in a report on Monday, February 3rd. UBS Group lowered their price target on Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. B. Riley restated 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. Guggenheim set a $30.00 price target on Gentex in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lowered their price target on Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $31.81.

Gentex Stock Performance

Shares of NASDAQ:GNTX opened at $23.98 on Wednesday. The business’s fifty day moving average price is $25.72 and its two-hundred day moving average price is $28.39. The stock has a market cap of $5.45 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 0.84 and a beta of 0.90. Gentex Co. has a one year low of $23.63 and a one year high of $36.75.

Gentex (NASDAQ:GNTX) last announced its earnings results 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 last year, the firm posted $0.50 EPS. As a group, equities research analysts predict that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders 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 dividend yield of 2.00%. The ex-dividend date is Wednesday, April 9th. Gentex’s dividend payout ratio is presently 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.