Voya Investment Management LLC Has $6.76 Million Stock Holdings in Gentex Co. (NASDAQ:GNTX)

Voya Investment Management LLC reduced its stake in Gentex Co. (NASDAQ:GNTX) by 30.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 235,441 shares of the auto parts company’s stock after selling 103,639 shares during the period. Voya Investment Management LLC’s holdings in Gentex were worth $6,764,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Midwest Capital Advisors LLC bought a new position in Gentex in the fourth quarter worth approximately $26,000. TD Private Client Wealth LLC lifted its holdings in shares of Gentex by 138.8% in the 4th quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company’s stock worth $33,000 after purchasing an additional 662 shares in the last quarter. Synergy Asset Management LLC bought a new stake in Gentex during the 4th quarter valued at $34,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in Gentex by 32.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,419 shares of the auto parts company’s stock valued at $70,000 after purchasing an additional 593 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in Gentex during the fourth quarter worth $96,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Baird R W downgraded shares of Gentex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. UBS Group decreased their price objective on Gentex from $29.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. lowered their price objective on Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Robert W. Baird reiterated a “neutral” rating and set a $25.00 price target (down previously from $31.00) on shares of Gentex in a report on Tuesday, April 15th. Finally, The Goldman Sachs Group dropped their price objective on Gentex from $28.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $28.31.

Gentex Stock Up 1.0 %

GNTX opened at $22.01 on Wednesday. The company’s 50-day moving average price is $23.13 and its two-hundred day moving average price is $26.77. Gentex Co. has a twelve month low of $20.28 and a twelve month high of $35.33. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 0.84 and a beta of 0.84.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, April 25th. The auto parts company reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. Gentex had a return on equity of 16.74% and a net margin of 17.49%. The business had revenue of $576.77 million during the quarter, compared to the consensus estimate of $578.68 million. During the same period last year, the business posted $0.47 earnings per share. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Gentex Co. will post 2.04 earnings per share for the current year.

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Wednesday, April 9th. Gentex’s dividend payout ratio (DPR) is presently 28.07%.

About Gentex

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.