Congress Wealth Management LLC DE Lowers Position in Gentex Co. (NASDAQ:GNTX)

Congress Wealth Management LLC DE cut its position in shares of Gentex Co. (NASDAQ:GNTX) by 63.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,190 shares of the auto parts company’s stock after selling 30,290 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Gentex were worth $494,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GNTX. JPMorgan Chase & Co. increased 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 valued at $59,404,000 after purchasing an additional 1,285,519 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Gentex by 16.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,787,311 shares of the auto parts company’s stock worth $80,079,000 after buying an additional 386,461 shares during the last quarter. Geode Capital Management LLC increased its position in Gentex by 5.6% during 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 buying an additional 285,802 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Gentex during the fourth quarter valued at $24,479,000. Finally, BCGM Wealth Management LLC boosted its holdings in Gentex by 64.2% in the fourth quarter. BCGM Wealth Management LLC now owns 56,743 shares of the auto parts company’s stock worth $1,630,000 after acquiring an additional 22,180 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Trading Down 2.0 %

Shares of GNTX stock opened at $23.40 on Friday. The stock has a market capitalization of $5.32 billion, a P/E ratio of 13.30, a P/E/G ratio of 0.84 and a beta of 0.90. The firm’s 50 day moving average is $25.20 and its 200 day moving average is $28.06. Gentex Co. has a 12-month low of $23.27 and a 12-month high of $36.46.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, January 31st. The auto parts company reported $0.39 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 period in the prior year, the business posted $0.50 earnings per share. As a group, equities analysts predict that Gentex Co. will post 2.04 earnings per share for the current year.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Wednesday, April 9th. Gentex’s payout ratio is currently 27.27%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GNTX shares. 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 target price on shares of Gentex in a report on Wednesday, March 5th. JPMorgan Chase & Co. dropped their target price on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. UBS Group reduced their price target on shares of Gentex from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Finally, Robert W. Baird set a $31.00 price objective on 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.