Elo Mutual Pension Insurance Co Acquires New Position in Gentex Co. (NASDAQ:GNTX)

Elo Mutual Pension Insurance Co acquired a new position in shares of Gentex Co. (NASDAQ:GNTX) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,397 shares of the auto parts company’s stock, valued at approximately $356,000.

A number of other large investors have also recently bought and sold shares of the business. EdgePoint Investment Group Inc. raised its position in shares of Gentex by 1.5% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 7,699,919 shares of the auto parts company’s stock worth $228,611,000 after purchasing an additional 111,500 shares during the period. TD Asset Management Inc. increased its position in Gentex by 7.1% in the fourth quarter. TD Asset Management Inc. now owns 5,415,871 shares of the auto parts company’s stock worth $155,598,000 after buying an additional 356,854 shares during the period. Geode Capital Management LLC increased its position in Gentex by 5.6% in the third quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company’s stock worth $159,406,000 after buying an additional 285,802 shares during the period. Disciplined Growth Investors Inc. MN lifted its stake in Gentex by 5.5% in the third quarter. Disciplined Growth Investors Inc. MN now owns 4,493,914 shares of the auto parts company’s stock valued at $133,424,000 after buying an additional 234,083 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Gentex by 16.1% during the fourth quarter. Bank of New York Mellon Corp now owns 2,787,311 shares of the auto parts company’s stock valued at $80,079,000 after acquiring an additional 386,461 shares during the period. Institutional investors own 86.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GNTX. JPMorgan Chase & Co. cut their price objective on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. UBS Group dropped their price target on shares of Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Guggenheim set a $30.00 price objective on Gentex in a research report on Wednesday, March 5th. B. Riley restated a “buy” rating and issued a $32.50 target price (down from $37.00) on shares of Gentex in a research report on Monday, February 3rd. Finally, Robert W. Baird set a $31.00 price target on Gentex in a research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $31.81.

Gentex Stock Down 2.0 %

Shares of GNTX stock opened at $23.40 on Monday. The stock has a 50-day simple moving average of $25.20 and a 200 day simple moving average of $28.05. The stock has a market capitalization of $5.32 billion, a P/E ratio of 13.30, a P/E/G ratio of 0.84 and a beta of 0.90. Gentex Co. has a fifty-two week low of $23.27 and a fifty-two week high of $36.46.

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 the consensus estimate 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 quarter in the prior year, the business posted $0.50 EPS. On average, sell-side analysts anticipate that Gentex Co. will post 2.04 earnings per share for the current year.

Gentex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders 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 yield of 2.05%. Gentex’s payout ratio 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.