Gentex Co. (NASDAQ:GNTX) Holdings Cut by Sigma Planning Corp

Sigma Planning Corp trimmed its position in shares of Gentex Co. (NASDAQ:GNTX) by 6.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,462 shares of the auto parts company’s stock after selling 674 shares during the period. Sigma Planning Corp’s holdings in Gentex were worth $272,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of GNTX. JPMorgan Chase & Co. raised its position in 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 acquiring an additional 1,285,519 shares in the last quarter. Bridgewater Associates LP raised its position in Gentex by 249.1% during the third quarter. Bridgewater Associates LP now owns 617,657 shares of the auto parts company’s stock valued at $18,338,000 after acquiring an additional 440,725 shares in the last quarter. Cidel Asset Management Inc. bought a new position in shares of Gentex during the 4th quarter valued at $11,815,000. Citigroup Inc. raised its holdings in shares of Gentex by 327.8% during the 3rd quarter. Citigroup Inc. now owns 483,842 shares of the auto parts company’s stock valued at $14,365,000 after purchasing an additional 370,746 shares in the last quarter. Finally, Lightrock Netherlands B.V. bought a new position in shares of Gentex during the 4th quarter valued at $9,443,000. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GNTX. JPMorgan Chase & Co. cut 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. B. Riley reissued a “buy” rating and issued a $32.50 price objective (down from $37.00) on shares of Gentex in a research note on Monday, February 3rd. UBS Group cut their price objective on Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Robert W. Baird set a $31.00 price target on shares of Gentex in a research report on Monday, February 3rd. Finally, Guggenheim dropped their price target on shares of Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Six 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, the company currently has a consensus rating of “Hold” and an average target price of $32.31.

Gentex Stock Performance

Shares of GNTX stock opened at $24.32 on Friday. Gentex Co. has a 1 year low of $24.07 and a 1 year high of $37.58. The firm’s fifty day simple moving average is $26.70 and its 200 day simple moving average is $28.90. The firm has a market capitalization of $5.53 billion, a P/E ratio of 13.82, a price-to-earnings-growth ratio of 0.84 and a beta of 0.91.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data 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 EPS. Equities research analysts anticipate that Gentex Co. will post 2.04 EPS for the current fiscal year.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be paid 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 yield of 1.97%. Gentex’s dividend payout ratio is 27.27%.

Gentex 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.