Wellington Management Group LLP Buys 1,038,912 Shares of Gentex Co. (NASDAQ:GNTX)

Wellington Management Group LLP boosted its stake in Gentex Co. (NASDAQ:GNTX) by 6.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,023,056 shares of the auto parts company’s stock after purchasing an additional 1,038,912 shares during the period. Wellington Management Group LLP owned about 7.93% of Gentex worth $517,802,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Schroder Investment Management Group lifted its position in shares of 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 grew its holdings in shares of Gentex by 11.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 34,075 shares of the auto parts company’s stock worth $979,000 after acquiring an additional 3,515 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of Gentex by 331.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 4,572 shares of the auto parts company’s stock worth $131,000 after acquiring an additional 3,512 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Gentex in the 4th quarter valued at approximately $1,300,000. Finally, Triodos Investment Management BV boosted its position in shares of Gentex by 6.7% during the fourth quarter. Triodos Investment Management BV now owns 801,000 shares of the auto parts company’s stock valued at $23,013,000 after purchasing an additional 50,000 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Gentex Price Performance

Shares of NASDAQ:GNTX opened at $23.30 on Tuesday. Gentex Co. has a 1 year low of $22.87 and a 1 year high of $36.46. The company has a market cap of $5.29 billion, a P/E ratio of 13.24, a PEG ratio of 0.84 and a beta of 0.90. The stock’s fifty day moving average price is $25.11 and its 200-day moving average price is $28.01.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share (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 quarter in the previous year, the company posted $0.50 EPS. On average, sell-side analysts anticipate that Gentex Co. will post 2.04 earnings per share for the current year.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $0.48 annualized dividend and a dividend yield of 2.06%. Gentex’s payout ratio is 27.27%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GNTX shares. Robert W. Baird set a $31.00 price objective on Gentex in a research report on Monday, February 3rd. 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. Guggenheim set a $30.00 target price on shares of Gentex in a research note on Wednesday, March 5th. UBS Group dropped their price target on Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. reduced their price objective on Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a research 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 data from MarketBeat, Gentex currently has an average rating of “Hold” and a consensus target price of $31.81.

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.