Connor Clark & Lunn Investment Management Ltd. Reduces Stake in Gentex Co. (NASDAQ:GNTX)

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 28.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 97,708 shares of the auto parts company’s stock after selling 38,312 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Gentex were worth $2,807,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Atria Investments Inc lifted its position in shares of Gentex by 2.0% during the 3rd quarter. Atria Investments Inc now owns 28,940 shares of the auto parts company’s stock worth $859,000 after buying an additional 577 shares during the last quarter. KBC Group NV lifted its position in Gentex by 13.3% in the third quarter. KBC Group NV now owns 5,664 shares of the auto parts company’s stock valued at $168,000 after acquiring an additional 667 shares during the last quarter. Empowered Funds LLC boosted its stake in Gentex by 42.7% in the third quarter. Empowered Funds LLC now owns 21,748 shares of the auto parts company’s stock valued at $646,000 after acquiring an additional 6,505 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of Gentex by 14.4% during the third quarter. Natixis Advisors LLC now owns 415,379 shares of the auto parts company’s stock worth $12,333,000 after purchasing an additional 52,205 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of Gentex by 10.1% during the third quarter. Thrivent Financial for Lutherans now owns 392,445 shares of the auto parts company’s stock worth $11,651,000 after purchasing an additional 36,134 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Stock Performance

GNTX stock opened at $24.14 on Tuesday. The stock has a market capitalization of $5.48 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 0.84 and a beta of 0.90. The company has a fifty day moving average of $25.79 and a 200-day moving average of $28.44. Gentex Co. has a one year low of $23.63 and a one year high of $36.75.

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 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 posted $0.50 earnings per share. Equities analysts forecast that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

The firm also recently disclosed 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 yield of 1.99%. The ex-dividend date is Wednesday, April 9th. Gentex’s dividend payout ratio is presently 27.27%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GNTX. Guggenheim set a $30.00 price target on Gentex in a research note on Wednesday, March 5th. Robert W. Baird set a $31.00 target price on shares of Gentex in a research 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 research report 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 on the stock in a research report on Monday, February 3rd. Finally, B. Riley restated a “buy” rating and issued a $32.50 price objective (down from $37.00) on shares of Gentex in a research note on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.