Parallel Advisors LLC Lowers Holdings in Gentex Co. (NASDAQ:GNTX)

Parallel Advisors LLC trimmed its position in Gentex Co. (NASDAQ:GNTX) by 6.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,452 shares of the auto parts company’s stock after selling 925 shares during the period. Parallel Advisors LLC’s holdings in Gentex were worth $415,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Midwest Capital Advisors LLC purchased a new stake in Gentex in the 4th quarter valued at approximately $26,000. Synergy Asset Management LLC purchased a new stake in shares of Gentex during the 4th quarter worth approximately $34,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in Gentex by 32.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,419 shares of the auto parts company’s stock worth $70,000 after purchasing an additional 593 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Gentex in the 3rd quarter worth about $125,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Gentex by 159.1% in the fourth quarter. GAMMA Investing LLC now owns 5,133 shares of the auto parts company’s stock valued at $147,000 after purchasing an additional 3,152 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Analyst Ratings Changes

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

Gentex Price Performance

Shares of NASDAQ:GNTX opened at $23.91 on Friday. The stock’s 50 day moving average price is $25.53 and its 200 day moving average price is $28.27. Gentex Co. has a 12 month low of $23.50 and a 12 month high of $36.49. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 0.84 and a beta of 0.90.

Gentex (NASDAQ:GNTX) last issued 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 quarter in the prior year, the firm earned $0.50 EPS. On average, sell-side analysts expect that Gentex Co. will post 2.04 EPS for the current year.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $0.48 annualized dividend and a dividend yield of 2.01%. Gentex’s dividend payout ratio (DPR) is presently 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.