Nitorum Capital L.P. Cuts Holdings in Gentex Co. (NASDAQ:GNTX)

Nitorum Capital L.P. lowered its stake in shares of Gentex Co. (NASDAQ:GNTX) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 677,699 shares of the auto parts company’s stock after selling 30,786 shares during the quarter. Gentex accounts for 2.2% of Nitorum Capital L.P.’s investment portfolio, making the stock its 22nd biggest position. Nitorum Capital L.P. owned 0.30% of Gentex worth $19,470,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. 180 Wealth Advisors LLC lifted its stake in Gentex by 0.7% during the fourth quarter. 180 Wealth Advisors LLC now owns 65,805 shares of the auto parts company’s stock worth $1,891,000 after purchasing an additional 437 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in Gentex by 6.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 7,445 shares of the auto parts company’s stock worth $214,000 after buying an additional 457 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Gentex by 32.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,419 shares of the auto parts company’s stock worth $70,000 after buying an additional 593 shares in the last quarter. Scotia Capital Inc. boosted its stake in Gentex by 0.5% in the fourth quarter. Scotia Capital Inc. now owns 126,325 shares of the auto parts company’s stock worth $3,629,000 after buying an additional 608 shares in the last quarter. Finally, Smith Moore & CO. raised its stake in shares of Gentex by 3.5% during the fourth quarter. Smith Moore & CO. now owns 18,666 shares of the auto parts company’s stock worth $536,000 after acquiring an additional 632 shares in the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Gentex Price Performance

Shares of GNTX opened at $21.36 on Friday. The company has a 50-day simple moving average of $23.23 and a two-hundred day simple moving average of $26.88. The firm has a market capitalization of $4.83 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 0.84 and a beta of 0.84. Gentex Co. has a one year low of $20.28 and a one year high of $35.33.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, April 25th. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The firm had revenue of $576.77 million during the quarter, compared to the consensus estimate of $578.68 million. Gentex had a return on equity of 16.74% and a net margin of 17.49%. During the same quarter last year, the company posted $0.47 EPS. Analysts expect that Gentex Co. will post 2.04 EPS for the current fiscal year.

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, April 9th. This represents a $0.48 annualized dividend and a dividend yield of 2.25%. Gentex’s payout ratio is currently 27.27%.

Analyst Ratings Changes

Several research firms recently commented on GNTX. Baird R W lowered shares of Gentex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. Guggenheim lowered their target price on Gentex from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday. The Goldman Sachs Group reduced their price target on Gentex from $28.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. UBS Group lowered their price objective on Gentex from $29.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Finally, JPMorgan Chase & Co. cut their target price 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. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $28.31.

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.