US Bancorp DE Buys 993 Shares of Gentex Co. (NASDAQ:GNTX)

US Bancorp DE grew its stake in Gentex Co. (NASDAQ:GNTX) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,858 shares of the auto parts company’s stock after acquiring an additional 993 shares during the quarter. US Bancorp DE’s holdings in Gentex were worth $1,490,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of GNTX. Asset Management One Co. Ltd. increased its stake in Gentex by 2.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 215,779 shares of the auto parts company’s stock worth $6,406,000 after purchasing an additional 5,424 shares in the last quarter. Atria Investments Inc raised its holdings in shares of Gentex by 2.0% in the third quarter. Atria Investments Inc now owns 28,940 shares of the auto parts company’s stock valued at $859,000 after purchasing an additional 577 shares during the last quarter. Jensen Investment Management Inc. raised its holdings in shares of Gentex by 11.2% in the third quarter. Jensen Investment Management Inc. now owns 172,120 shares of the auto parts company’s stock valued at $5,110,000 after purchasing an additional 17,300 shares during the last quarter. Ashton Thomas Securities LLC raised its holdings in shares of Gentex by 10.3% in the third quarter. Ashton Thomas Securities LLC now owns 43,776 shares of the auto parts company’s stock valued at $1,300,000 after purchasing an additional 4,080 shares during the last quarter. Finally, XXEC Inc. raised its holdings in shares of Gentex by 35.0% in the third quarter. XXEC Inc. now owns 172,306 shares of the auto parts company’s stock valued at $5,116,000 after purchasing an additional 44,652 shares during the last quarter. 86.76% of the stock is owned by institutional investors.

Gentex Stock Performance

Shares of Gentex stock opened at $25.39 on Friday. The firm has a 50-day moving average of $26.25 and a 200-day moving average of $28.72. The stock has a market cap of $5.77 billion, a PE ratio of 14.43, a PEG ratio of 0.84 and a beta of 0.90. Gentex Co. has a 52-week low of $23.63 and a 52-week high of $36.75.

Gentex (NASDAQ:GNTX) last posted its quarterly 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 period last year, the company posted $0.50 earnings per share. Equities research analysts predict that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The firm also recently announced 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. This represents a $0.48 annualized dividend and a yield of 1.89%. The ex-dividend date is Wednesday, April 9th. Gentex’s payout ratio is 27.27%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GNTX. JPMorgan Chase & Co. lowered their price objective 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. Guggenheim lowered their price objective on shares of Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. UBS Group lowered their price objective 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 restated 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. Finally, Robert W. Baird set a $31.00 target price on shares of Gentex in a report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Gentex currently has a consensus rating of “Hold” and an average target price of $32.31.

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.