Valley National Advisers Inc. Cuts Stake in Gentex Co. (NASDAQ:GNTX)

Valley National Advisers Inc. cut its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 23.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,690 shares of the auto parts company’s stock after selling 1,704 shares during the quarter. Valley National Advisers Inc.’s holdings in Gentex were worth $162,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. EdgePoint Investment Group Inc. lifted its stake in Gentex by 1.5% in the third 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 last quarter. Geode Capital Management LLC lifted its stake in shares of Gentex by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company’s stock valued at $159,406,000 after acquiring an additional 285,802 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in Gentex by 5.5% during the 3rd 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 acquiring an additional 234,083 shares during the period. JPMorgan Chase & Co. increased its stake in Gentex by 179.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company’s stock worth $59,404,000 after purchasing an additional 1,285,519 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Gentex by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,554,823 shares of the auto parts company’s stock valued at $46,163,000 after purchasing an additional 6,106 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Stock Down 8.2 %

GNTX opened at $25.92 on Monday. Gentex Co. has a 52 week low of $25.10 and a 52 week high of $37.58. The stock has a market cap of $5.89 billion, a PE ratio of 13.86, a PEG ratio of 0.92 and a beta of 0.91. The business has a 50 day moving average of $28.94 and a 200-day moving average of $29.78.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, January 31st. The auto parts company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.10). Gentex had a net margin of 18.37% and a return on equity of 18.25%. During the same quarter in the prior year, the firm posted $0.50 EPS. Equities analysts anticipate that Gentex Co. will post 1.86 EPS for the current year.

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors 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 dividend yield of 1.85%. Gentex’s payout ratio is currently 25.67%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Bank of America decreased their target price on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Guggenheim cut their target price on Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Finally, Robert W. Baird upped their price target on Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Gentex presently has a consensus rating of “Hold” and a consensus target price of $35.13.

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.