First National Advisers LLC Has $1.78 Million Stake in Gentex Co. (NASDAQ:GNTX)

First National Advisers LLC trimmed its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 12.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,049 shares of the auto parts company’s stock after selling 9,182 shares during the period. First National Advisers LLC’s holdings in Gentex were worth $1,783,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GNTX. JPMorgan Chase & Co. boosted its position in Gentex by 179.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company’s stock valued at $59,404,000 after buying an additional 1,285,519 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Gentex in the 4th quarter worth $24,479,000. Bridgewater Associates LP boosted its position in shares of Gentex by 249.1% in the 3rd quarter. Bridgewater Associates LP now owns 617,657 shares of the auto parts company’s stock worth $18,338,000 after purchasing an additional 440,725 shares during the last quarter. Cidel Asset Management Inc. bought a new position in shares of Gentex in the 4th quarter worth $11,815,000. Finally, Bank of New York Mellon Corp boosted its position 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 purchasing an additional 386,461 shares during the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GNTX shares. JPMorgan Chase & Co. reduced 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 reiterated a “buy” rating and set a $32.50 target price (down from $37.00) on shares of Gentex in a report on Monday, February 3rd. Robert W. Baird set a $31.00 target price on Gentex in a report on Monday, February 3rd. Guggenheim set a $30.00 target price on Gentex in a report on Wednesday, March 5th. 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 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, the company currently has a consensus rating of “Hold” and an average price target of $31.81.

Gentex Stock Up 1.9 %

NASDAQ GNTX opened at $24.31 on Friday. The company has a market capitalization of $5.52 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 0.84 and a beta of 0.90. Gentex Co. has a twelve month low of $23.63 and a twelve month high of $36.75. The stock has a fifty day simple moving average of $25.87 and a 200 day simple moving average of $28.50.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, January 31st. The auto parts company reported $0.39 earnings per share 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 company earned $0.50 earnings per share. Research analysts expect that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.97%. Gentex’s dividend payout ratio (DPR) is presently 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.