Birch Hill Investment Advisors LLC Sells 49,218 Shares of Gentex Co. (NASDAQ:GNTX)

Birch Hill Investment Advisors LLC lowered its position in shares of Gentex Co. (NASDAQ:GNTX) by 9.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 496,450 shares of the auto parts company’s stock after selling 49,218 shares during the quarter. Birch Hill Investment Advisors LLC owned about 0.22% of Gentex worth $14,263,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of 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 acquiring an additional 1,285,519 shares in the last quarter. Bridgewater Associates LP grew its holdings in Gentex by 249.1% in the third 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 period. Cidel Asset Management Inc. bought a new stake in Gentex in the fourth quarter valued at $11,815,000. Citigroup Inc. raised its holdings in shares of Gentex by 327.8% during the third quarter. Citigroup Inc. now owns 483,842 shares of the auto parts company’s stock valued at $14,365,000 after purchasing an additional 370,746 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Gentex by 53.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 905,080 shares of the auto parts company’s stock worth $26,872,000 after purchasing an additional 315,164 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GNTX. Guggenheim decreased their target price on Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. UBS Group lowered their target price on Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. JPMorgan Chase & Co. reduced their price target on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Bank of America lowered their price objective on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Finally, Robert W. Baird lifted their price objective on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Gentex currently has an average rating of “Hold” and an average target price of $33.06.

Gentex Price Performance

GNTX opened at $25.06 on Friday. The firm’s fifty day moving average price is $28.39 and its two-hundred day moving average price is $29.51. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 0.86 and a beta of 0.91. Gentex Co. has a 1 year low of $24.57 and a 1 year high of $37.58.

Gentex (NASDAQ:GNTX) last issued 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 return on equity of 16.74% and a net margin of 17.49%. During the same period in the prior year, the business earned $0.50 EPS. As a group, equities analysts anticipate that Gentex Co. will post 2.04 EPS for the current year.

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th were issued a $0.12 dividend. The ex-dividend date was Wednesday, January 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.92%. Gentex’s dividend payout ratio (DPR) is presently 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.