KLP Kapitalforvaltning AS Takes $1.86 Million Position in Gentex Co. (NASDAQ:GNTX)

KLP Kapitalforvaltning AS acquired a new stake in shares of Gentex Co. (NASDAQ:GNTX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 64,800 shares of the auto parts company’s stock, valued at approximately $1,862,000.

Other hedge funds also recently bought and sold shares of the company. Midwest Capital Advisors LLC purchased a new stake in shares of Gentex during the fourth quarter valued at $26,000. TD Private Client Wealth LLC boosted its position in 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 valued at $33,000 after buying an additional 662 shares during the period. Synergy Asset Management LLC bought a new position in Gentex in the 4th quarter worth about $34,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Gentex by 32.5% during 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 acquiring an additional 593 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Gentex during the third quarter valued at approximately $125,000. Institutional investors own 86.76% of the company’s stock.

Gentex Trading Down 3.6 %

Shares of GNTX opened at $23.88 on Friday. The firm has a market cap of $5.43 billion, a PE ratio of 13.57, a P/E/G ratio of 0.84 and a beta of 0.90. Gentex Co. has a 12 month low of $23.50 and a 12 month high of $36.46. The stock has a fifty day moving average price of $25.29 and a 200-day moving average price of $28.11.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data 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 net margin of 17.49% and a return on equity of 16.74%. During the same quarter in the previous year, the business earned $0.50 earnings per share. As a group, research analysts forecast that Gentex Co. will post 2.04 EPS for the current year.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Wednesday, April 9th. Gentex’s dividend payout ratio (DPR) is 27.27%.

Analysts Set New Price Targets

GNTX has been the topic of several research analyst reports. Guggenheim set a $30.00 price objective on Gentex in a research note on Wednesday, March 5th. UBS Group cut their price target on Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. JPMorgan Chase & Co. lowered their price objective on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. B. Riley reiterated a “buy” rating and set a $32.50 target price (down from $37.00) on shares of Gentex in a report on Monday, February 3rd. Finally, Robert W. Baird set a $31.00 price target on shares of Gentex in a report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $31.81.

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.