Quantbot Technologies LP Sells 8,743 Shares of Gentex Co. (NASDAQ:GNTX)

Quantbot Technologies LP lowered its stake in Gentex Co. (NASDAQ:GNTX) by 10.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 73,468 shares of the auto parts company’s stock after selling 8,743 shares during the quarter. Quantbot Technologies LP’s holdings in Gentex were worth $2,111,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GNTX. Empowered Funds LLC lifted its position 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 purchasing an additional 6,505 shares during the last quarter. Commerce Bank lifted its position in Gentex by 20.7% in the third quarter. Commerce Bank now owns 16,468 shares of the auto parts company’s stock valued at $489,000 after purchasing an additional 2,827 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Gentex by 155.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 136,020 shares of the auto parts company’s stock valued at $4,038,000 after purchasing an additional 82,701 shares during the last quarter. 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. Finally, Raymond James Trust N.A. lifted its position in Gentex by 56.2% in the third quarter. Raymond James Trust N.A. now owns 16,427 shares of the auto parts company’s stock valued at $488,000 after purchasing an additional 5,908 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on GNTX shares. JPMorgan Chase & Co. lowered their price objective on Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Robert W. Baird set a $31.00 target price on Gentex in a research note on Monday, February 3rd. UBS Group reduced their target price on Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. B. Riley reissued a “buy” rating and set a $32.50 target price (down from $37.00) on shares of Gentex in a research note on Monday, February 3rd. Finally, Guggenheim set a $30.00 target price on Gentex in a research note on Wednesday, March 5th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Gentex presently has an average rating of “Hold” and an average target price of $31.81.

Gentex Stock Down 0.7 %

Shares of GNTX stock opened at $23.91 on Monday. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 0.84 and a beta of 0.90. The business’s fifty day moving average is $25.53 and its 200 day moving average is $28.24. Gentex Co. has a twelve month low of $23.50 and a twelve month high of $36.46.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share for the quarter, missing the consensus estimate 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 period in the previous year, the firm earned $0.50 earnings per share. Equities research analysts expect that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.01%. Gentex’s dividend payout ratio 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.