Gentex Co. (NASDAQ:GNTX) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC cut its holdings in Gentex Co. (NASDAQ:GNTX) by 17.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 58,874 shares of the auto parts company’s stock after selling 12,506 shares during the quarter. Corient Private Wealth LLC’s holdings in Gentex were worth $1,691,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Commerce Bank increased its holdings in Gentex by 20.7% in the 3rd quarter. Commerce Bank now owns 16,468 shares of the auto parts company’s stock worth $489,000 after acquiring an additional 2,827 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Gentex by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,554,823 shares of the auto parts company’s stock worth $46,163,000 after purchasing an additional 6,106 shares in the last quarter. Raymond James Trust N.A. raised its position in shares of Gentex by 56.2% during the 3rd quarter. Raymond James Trust N.A. now owns 16,427 shares of the auto parts company’s stock worth $488,000 after purchasing an additional 5,908 shares during the last quarter. Citigroup Inc. lifted its stake in Gentex by 327.8% in the 3rd quarter. Citigroup Inc. now owns 483,842 shares of the auto parts company’s stock valued at $14,365,000 after buying an additional 370,746 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Gentex in the 3rd quarter worth about $2,441,000. 86.76% of the stock is owned by institutional investors and hedge funds.

Gentex Trading Up 2.2 %

Gentex stock opened at $24.43 on Tuesday. The company has a 50-day moving average price of $25.47 and a 200 day moving average price of $28.20. Gentex Co. has a 12-month low of $23.50 and a 12-month high of $36.46. The stock has a market cap of $5.55 billion, a P/E ratio of 13.88, a PEG ratio of 0.84 and a beta of 0.90.

Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, January 31st. The auto parts company reported $0.39 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 last year, the firm posted $0.50 earnings per share. As a group, analysts forecast that Gentex Co. will post 2.04 EPS for the current year.

Gentex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, April 9th. This represents a $0.48 dividend on an annualized basis and a yield of 1.96%. Gentex’s dividend payout ratio (DPR) is presently 27.27%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Robert W. Baird set a $31.00 target price on Gentex in a research report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price objective on Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. UBS Group lowered their target price on shares of Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Guggenheim set a $30.00 target price on shares of Gentex in a research report on Wednesday, March 5th. Finally, B. Riley restated a “buy” rating and set a $32.50 price target (down from $37.00) on shares of Gentex in a research report on Monday, February 3rd. Six research 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, Gentex has an average rating of “Hold” and an average price target of $31.81.

About Gentex

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.