Vestcor Inc Buys 8,204 Shares of Gentex Co. (NASDAQ:GNTX)

Vestcor Inc raised its stake in Gentex Co. (NASDAQ:GNTX) by 44.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,726 shares of the auto parts company’s stock after purchasing an additional 8,204 shares during the period. Vestcor Inc’s holdings in Gentex were worth $768,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Midwest Capital Advisors LLC bought a new stake in Gentex in the fourth quarter valued at $26,000. Synergy Asset Management LLC bought a new stake in Gentex in the fourth quarter valued at $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 in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Gentex during the third quarter worth about $125,000. Finally, GAMMA Investing LLC increased its position in shares of Gentex by 159.1% during the fourth quarter. GAMMA Investing LLC now owns 5,133 shares of the auto parts company’s stock worth $147,000 after acquiring an additional 3,152 shares in the last quarter. 86.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Guggenheim set a $30.00 target price on shares of Gentex in a research report on Wednesday, March 5th. B. Riley reissued a “buy” rating and set a $32.50 target price (down from $37.00) on shares of Gentex in a research report on Monday, February 3rd. UBS Group decreased their target price on shares of Gentex from $30.00 to $29.00 and set a “neutral” rating for the company in a research 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 analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $31.81.

Gentex Stock Up 1.9 %

GNTX opened at $24.31 on Monday. The stock has a market cap of $5.52 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 0.84 and a beta of 0.90. Gentex Co. has a twelve month low of $23.63 and a twelve month high of $36.75. The company’s 50-day moving average price is $25.87 and its two-hundred day moving average price is $28.49.

Gentex (NASDAQ:GNTX) last released its 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 in the previous year, the firm earned $0.50 earnings per share. As a group, sell-side analysts anticipate that Gentex Co. will post 2.04 earnings per share for the current year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Wednesday, April 9th. Gentex’s payout ratio 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.