Janney Montgomery Scott LLC Reduces Holdings in Gentex Co. (NASDAQ:GNTX)

Janney Montgomery Scott LLC lowered its stake in Gentex Co. (NASDAQ:GNTXFree Report) by 1.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 355,787 shares of the auto parts company’s stock after selling 6,410 shares during the period. Janney Montgomery Scott LLC’s holdings in Gentex were worth $11,620,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of GNTX. Wellington Management Group LLP raised its position in shares of Gentex by 95.4% in the third quarter. Wellington Management Group LLP now owns 6,823,022 shares of the auto parts company’s stock valued at $222,021,000 after buying an additional 3,330,502 shares during the last quarter. Mesirow Institutional Investment Management Inc. raised its holdings in Gentex by 279.6% in the 4th quarter. Mesirow Institutional Investment Management Inc. now owns 350,922 shares of the auto parts company’s stock valued at $11,461,000 after acquiring an additional 258,476 shares during the last quarter. Retirement Systems of Alabama lifted its stake in shares of Gentex by 61.5% during the 4th quarter. Retirement Systems of Alabama now owns 556,849 shares of the auto parts company’s stock worth $18,187,000 after purchasing an additional 211,978 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Gentex by 110.1% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 375,336 shares of the auto parts company’s stock worth $12,356,000 after purchasing an additional 196,718 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in shares of Gentex by 66.7% in the third quarter. Adage Capital Partners GP L.L.C. now owns 250,000 shares of the auto parts company’s stock valued at $8,135,000 after purchasing an additional 100,000 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Price Performance

NASDAQ:GNTX opened at $34.65 on Friday. Gentex Co. has a 12 month low of $25.86 and a 12 month high of $37.58. The business’s 50-day moving average is $35.18 and its two-hundred day moving average is $33.52. The firm has a market capitalization of $8.01 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 0.76 and a beta of 0.98.

Gentex (NASDAQ:GNTXGet Free Report) last released its quarterly earnings results on Friday, April 26th. The auto parts company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The firm had revenue of $590.23 million for the quarter, compared to analyst estimates of $600.38 million. Gentex had a net margin of 18.77% and a return on equity of 19.19%. Gentex’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 earnings per share. Equities analysts anticipate that Gentex Co. will post 2.11 EPS for the current year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Friday, April 5th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Thursday, April 4th. Gentex’s payout ratio is currently 25.40%.

Insider Activity

In other news, CFO Kevin C. Nash sold 13,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total value of $446,040.00. Following the completion of the sale, the chief financial officer now directly owns 44,321 shares in the company, valued at approximately $1,464,365.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. StockNews.com downgraded Gentex from a “buy” rating to a “hold” rating in a research report on Wednesday. The Goldman Sachs Group increased their price objective on shares of Gentex from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. JPMorgan Chase & Co. boosted their target price on shares of Gentex from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Guggenheim increased their price target on shares of Gentex from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, B. Riley boosted their price objective on shares of Gentex from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $37.83.

Get Our Latest Stock Analysis on Gentex

Gentex Profile

(Free Report)

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.

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Want to see what other hedge funds are holding GNTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gentex Co. (NASDAQ:GNTXFree Report).

Institutional Ownership by Quarter for Gentex (NASDAQ:GNTX)

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