Intech Investment Management LLC Grows Stock Holdings in Gentex Co. (NASDAQ:GNTX)

Intech Investment Management LLC raised its position in Gentex Co. (NASDAQ:GNTX) by 33.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,010 shares of the auto parts company’s stock after acquiring an additional 9,585 shares during the quarter. Intech Investment Management LLC’s holdings in Gentex were worth $1,092,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. EdgePoint Investment Group Inc. increased its position in shares of Gentex by 1.5% in the third quarter. EdgePoint Investment Group Inc. now owns 7,699,919 shares of the auto parts company’s stock valued at $228,611,000 after acquiring an additional 111,500 shares during the period. Geode Capital Management LLC increased its position in shares of Gentex by 5.6% during the third quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company’s stock valued at $159,406,000 after buying an additional 285,802 shares during the period. Disciplined Growth Investors Inc. MN increased its position in shares of Gentex by 5.5% during the third quarter. Disciplined Growth Investors Inc. MN now owns 4,493,914 shares of the auto parts company’s stock valued at $133,424,000 after buying an additional 234,083 shares during the period. Bank of New York Mellon Corp increased its position in shares of Gentex by 16.1% during the fourth quarter. Bank of New York Mellon Corp now owns 2,787,311 shares of the auto parts company’s stock valued at $80,079,000 after buying an additional 386,461 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Gentex by 179.7% during the third quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company’s stock valued at $59,404,000 after buying an additional 1,285,519 shares during the period. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Analyst Ratings Changes

GNTX has been the topic of several research analyst reports. UBS Group reduced their price target on shares of Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. JPMorgan Chase & Co. reduced their price target on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Guggenheim set a $30.00 price target on shares of Gentex in a research report on Wednesday, March 5th. B. Riley reissued 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. Finally, Robert W. Baird set a $31.00 price objective on shares of Gentex in a research note on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $31.81.

Gentex Price Performance

NASDAQ:GNTX opened at $23.91 on Friday. Gentex Co. has a one year low of $23.50 and a one year high of $36.46. The company’s 50-day simple moving average is $25.53 and its 200 day simple moving average is $28.26. The firm has a market capitalization of $5.43 billion, a P/E 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 (EPS) for the quarter, missing the consensus estimate 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 company posted $0.50 earnings per share. On average, equities research analysts expect that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Dividend Announcement

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