Boston Partners Sells 594,740 Shares of Gentex Co. (NASDAQ:GNTX)

Boston Partners reduced its position in shares of Gentex Co. (NASDAQ:GNTX) by 8.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,052,102 shares of the auto parts company’s stock after selling 594,740 shares during the period. Boston Partners owned 2.66% of Gentex worth $173,867,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GNTX. Midwest Capital Advisors LLC bought a new stake in shares of Gentex during the 4th quarter worth $26,000. Synergy Asset Management LLC bought a new stake in shares of Gentex during the 4th quarter worth $34,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Gentex by 32.5% in 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 during the period. Wilmington Savings Fund Society FSB bought a new stake in Gentex in the 3rd quarter valued at $125,000. Finally, GAMMA Investing LLC boosted its holdings in Gentex by 159.1% in the 4th quarter. GAMMA Investing LLC now owns 5,133 shares of the auto parts company’s stock valued at $147,000 after purchasing an additional 3,152 shares during the period. 86.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GNTX has been the subject of a number of research reports. B. Riley reissued a “buy” rating and issued a $32.50 price target (down from $37.00) on shares of Gentex in a report on Monday, February 3rd. UBS Group reduced their price target on shares of Gentex from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Robert W. Baird set a $31.00 price target on shares of Gentex in a report on Monday, February 3rd. Guggenheim set a $30.00 price target on shares of Gentex in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $31.81.

Gentex Stock Performance

Shares of GNTX stock opened at $23.98 on Wednesday. Gentex Co. has a 52-week low of $23.63 and a 52-week high of $36.75. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of 13.63, a P/E/G ratio of 0.84 and a beta of 0.90. The firm has a fifty day moving average of $25.72 and a 200-day moving average of $28.39.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.10). Gentex had a return on equity of 16.74% and a net margin of 17.49%. During the same quarter last year, the firm posted $0.50 EPS. On average, sell-side analysts predict that Gentex Co. will post 2.04 earnings per share 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 given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Wednesday, April 9th. Gentex’s dividend payout ratio (DPR) is currently 27.27%.

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.