Midwest Capital Advisors LLC Takes $26,000 Position in Gentex Co. (NASDAQ:GNTX)

Midwest Capital Advisors LLC bought a new stake in Gentex Co. (NASDAQ:GNTX) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 919 shares of the auto parts company’s stock, valued at approximately $26,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lindenwold Advisors INC lifted its position in Gentex by 2.8% in the third quarter. Lindenwold Advisors INC now owns 12,539 shares of the auto parts company’s stock valued at $372,000 after purchasing an additional 347 shares during the period. Coldstream Capital Management Inc. lifted its position in Gentex by 5.8% in the third quarter. Coldstream Capital Management Inc. now owns 7,446 shares of the auto parts company’s stock valued at $221,000 after purchasing an additional 408 shares during the period. 180 Wealth Advisors LLC lifted its position in Gentex by 0.7% in the fourth quarter. 180 Wealth Advisors LLC now owns 65,805 shares of the auto parts company’s stock valued at $1,891,000 after purchasing an additional 437 shares during the period. Intellectus Partners LLC lifted its position in Gentex by 6.1% in the third quarter. Intellectus Partners LLC now owns 8,452 shares of the auto parts company’s stock valued at $251,000 after purchasing an additional 484 shares during the period. Finally, Atria Investments Inc lifted its position in 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 period. 86.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on GNTX shares. JPMorgan Chase & Co. reduced their price objective 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. Robert W. Baird set a $31.00 price objective on shares of Gentex in a research report on Monday, February 3rd. B. Riley reiterated a “buy” rating and set a $32.50 price target (down from $37.00) on shares of Gentex in a research report on Monday, February 3rd. Guggenheim reduced their price target on shares of Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Finally, 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. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $32.31.

Gentex Stock Performance

GNTX stock opened at $24.37 on Monday. The stock has a market capitalization of $5.54 billion, a P/E ratio of 13.85, a PEG ratio of 0.84 and a beta of 0.91. Gentex Co. has a one year low of $24.20 and a one year high of $37.58. The company has a 50 day moving average price of $27.21 and a two-hundred day moving average price of $29.05.

Gentex (NASDAQ:GNTX) last released its earnings results 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 quarter in the previous year, the firm earned $0.50 earnings per share. Research analysts forecast that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, January 8th. This represents a $0.48 annualized dividend and a yield of 1.97%. Gentex’s payout ratio is currently 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.