Motley Fool Wealth Management LLC Sells 11,226 Shares of Gentex Co. (NASDAQ:GNTX)

Motley Fool Wealth Management LLC decreased its position in shares of Gentex Co. (NASDAQ:GNTX) by 3.6% in the 4th quarter, HoldingsChannel reports. The fund owned 297,676 shares of the auto parts company’s stock after selling 11,226 shares during the period. Motley Fool Wealth Management LLC’s holdings in Gentex were worth $8,471,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GNTX. TD Asset Management Inc. increased its stake in Gentex by 7.1% in the 4th quarter. TD Asset Management Inc. now owns 5,415,871 shares of the auto parts company’s stock valued at $155,598,000 after buying an additional 356,854 shares during the last quarter. Segall Bryant & Hamill LLC increased its position in shares of Gentex by 3.5% during the fourth quarter. Segall Bryant & Hamill LLC now owns 463,159 shares of the auto parts company’s stock valued at $13,307,000 after acquiring an additional 15,689 shares during the last quarter. LPL Financial LLC lifted its holdings in Gentex by 31.6% during the fourth quarter. LPL Financial LLC now owns 189,254 shares of the auto parts company’s stock worth $5,437,000 after acquiring an additional 45,475 shares during the period. Fox Run Management L.L.C. boosted its position in Gentex by 198.3% in the fourth quarter. Fox Run Management L.L.C. now owns 24,054 shares of the auto parts company’s stock worth $691,000 after purchasing an additional 15,990 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Gentex in the 4th quarter valued at $1,862,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GNTX. UBS Group cut their target price on shares of Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. B. Riley reaffirmed a “buy” rating and issued a $32.50 price target (down previously from $37.00) on shares of Gentex in a research report on Monday, February 3rd. Guggenheim set a $30.00 price objective on Gentex in a research report on Wednesday, March 5th. Robert W. Baird set a $31.00 target price on Gentex in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $31.81.

Gentex Price Performance

Shares of GNTX stock opened at $24.52 on Wednesday. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 0.84 and a beta of 0.90. Gentex Co. has a 1 year low of $23.50 and a 1 year high of $36.46. The firm has a fifty day moving average price of $25.42 and a 200-day moving average price of $28.16.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results 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 net margin of 17.49% and a return on equity of 16.74%. During the same period in the prior year, the business posted $0.50 EPS. Equities research analysts expect that Gentex Co. will post 2.04 EPS for the current year.

Gentex Dividend Announcement

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

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.