Cidel Asset Management Inc. Takes $11.82 Million Position in Gentex Co. (NASDAQ:GNTX)

Cidel Asset Management Inc. acquired a new position in Gentex Co. (NASDAQ:GNTX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 411,232 shares of the auto parts company’s stock, valued at approximately $11,815,000. Cidel Asset Management Inc. owned 0.18% of Gentex as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake 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 worth $59,404,000 after buying an additional 1,285,519 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Gentex by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company’s stock valued at $159,406,000 after purchasing an additional 285,802 shares during the period. Barclays PLC boosted its position in shares of Gentex by 54.4% in the 3rd quarter. Barclays PLC now owns 107,930 shares of the auto parts company’s stock worth $3,205,000 after purchasing an additional 38,027 shares during the last quarter. Reinhart Partners LLC. grew its stake in shares of Gentex by 1.9% during the fourth quarter. Reinhart Partners LLC. now owns 1,124,403 shares of the auto parts company’s stock worth $32,304,000 after purchasing an additional 20,624 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in Gentex by 10.1% in the third quarter. Thrivent Financial for Lutherans now owns 392,445 shares of the auto parts company’s stock valued at $11,651,000 after purchasing an additional 36,134 shares during the last quarter. 86.76% of the stock is owned by institutional investors.

Gentex Price Performance

GNTX opened at $25.06 on Friday. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 0.86 and a beta of 0.91. The business’s 50-day moving average price is $28.50 and its two-hundred day moving average price is $29.56. Gentex Co. has a 1 year low of $24.57 and a 1 year high of $37.58.

Gentex (NASDAQ:GNTX) last announced its 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 period last year, the business posted $0.50 earnings per share. Sell-side analysts anticipate that Gentex Co. will post 2.1 earnings per share for the current fiscal year.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Wednesday, January 8th. Gentex’s dividend payout ratio (DPR) is currently 27.27%.

Wall Street Analyst Weigh In

GNTX has been the topic of a number of recent analyst reports. B. Riley restated a “buy” rating and set a $32.50 target price (down previously from $37.00) on shares of Gentex in a report on Monday, February 3rd. Bank of America decreased their price objective on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Guggenheim reduced 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. Robert W. Baird boosted their price target on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Finally, UBS Group reduced their target price on Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Gentex currently has a consensus rating of “Hold” and a consensus price target of $33.06.

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.