Victory Capital Management Inc. Raises Stock Position in Gentex Co. (NASDAQ:GNTX)

Victory Capital Management Inc. boosted its holdings in Gentex Co. (NASDAQ:GNTX) by 65.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 73,936 shares of the auto parts company’s stock after buying an additional 29,168 shares during the period. Victory Capital Management Inc.’s holdings in Gentex were worth $2,124,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its stake in Gentex by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,560,100 shares of the auto parts company’s stock worth $44,822,000 after buying an additional 5,277 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Gentex by 382.4% during the 4th quarter. Jones Financial Companies Lllp now owns 5,731 shares of the auto parts company’s stock valued at $165,000 after purchasing an additional 4,543 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Gentex by 2.0% during the 4th quarter. US Bancorp DE now owns 51,858 shares of the auto parts company’s stock valued at $1,490,000 after purchasing an additional 993 shares during the last quarter. SVB Wealth LLC bought a new position in shares of Gentex during the 4th quarter valued at about $452,000. Finally, Illumine Investment Management LLC bought a new position in shares of Gentex during the 4th quarter valued at about $1,761,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Trading Down 0.7 %

Shares of NASDAQ:GNTX opened at $24.14 on Tuesday. Gentex Co. has a 12 month low of $23.63 and a 12 month high of $36.75. The company has a 50-day moving average price of $25.79 and a 200 day moving average price of $28.44. The company has a market cap of $5.48 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 0.84 and a beta of 0.90.

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 return on equity of 16.74% and a net margin of 17.49%. During the same quarter in the previous year, the business earned $0.50 earnings per share. As a group, equities analysts forecast that Gentex Co. will post 2.04 EPS for the current year.

Gentex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Wednesday, April 9th. Gentex’s dividend payout ratio (DPR) is currently 27.27%.

Analysts Set New Price Targets

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

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.