SVB Wealth LLC Takes Position in Gentex Co. (NASDAQ:GNTX)

SVB Wealth LLC bought a new position in shares of Gentex Co. (NASDAQ:GNTX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 15,735 shares of the auto parts company’s stock, valued at approximately $452,000.

Several other hedge funds and other institutional investors have also modified their holdings of GNTX. Harbor Capital Advisors Inc. raised its position in Gentex by 104.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 81,506 shares of the auto parts company’s stock valued at $2,420,000 after purchasing an additional 41,732 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Gentex by 74.6% in the third quarter. Van ECK Associates Corp now owns 309,668 shares of the auto parts company’s stock valued at $9,141,000 after buying an additional 132,322 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Gentex by 2.6% in the third quarter. Asset Management One Co. Ltd. now owns 215,779 shares of the auto parts company’s stock valued at $6,406,000 after buying an additional 5,424 shares during the last quarter. Radnor Capital Management LLC acquired a new position in Gentex during the 3rd quarter worth about $267,000. Finally, Advisor Resource Council bought a new stake in Gentex during the 3rd quarter worth about $438,000. Institutional investors own 86.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Robert W. Baird set a $31.00 target price on shares of Gentex in a research note on Monday, February 3rd. B. Riley restated a “buy” rating and issued a $32.50 price objective (down previously from $37.00) on shares of Gentex in a research report on Monday, February 3rd. UBS Group decreased their price objective on Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Guggenheim dropped their target price on Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. decreased their price target on Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $32.31.

Gentex Trading Down 0.8 %

NASDAQ GNTX opened at $24.00 on Wednesday. Gentex Co. has a 12 month low of $23.63 and a 12 month high of $37.58. The company has a market capitalization of $5.45 billion, a PE ratio of 13.64, a P/E/G ratio of 0.84 and a beta of 0.91. The stock has a 50-day simple moving average of $26.50 and a 200 day simple moving average of $28.82.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates 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 last year, the company earned $0.50 earnings per share. As a group, sell-side analysts predict that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Wednesday, April 9th. Gentex’s dividend payout ratio (DPR) is 27.27%.

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.