Kayne Anderson Rudnick Investment Management LLC Has $16.04 Million Stock Holdings in Gentex Co. (NASDAQ:GNTX)

Kayne Anderson Rudnick Investment Management LLC lowered its holdings in Gentex Co. (NASDAQ:GNTX) by 2.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 558,158 shares of the auto parts company’s stock after selling 11,552 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Gentex were worth $16,036,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in GNTX. Midwest Capital Advisors LLC acquired a new stake in shares of Gentex in the fourth quarter worth $26,000. TD Private Client Wealth LLC grew its position in Gentex by 138.8% in the 4th quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company’s stock worth $33,000 after purchasing an additional 662 shares during the last quarter. Synergy Asset Management LLC acquired a new stake in Gentex in the 4th quarter worth $34,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Gentex by 32.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,419 shares of the auto parts company’s stock worth $70,000 after purchasing an additional 593 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Gentex during the fourth quarter valued at about $96,000. 86.76% of the stock is owned by institutional investors.

Gentex Stock Up 2.3 %

NASDAQ:GNTX opened at $21.56 on Monday. The firm has a market cap of $4.88 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 0.84 and a beta of 0.84. Gentex Co. has a 12 month low of $20.28 and a 12 month high of $35.33. The company’s 50-day moving average price is $23.52 and its two-hundred day moving average price is $27.11.

Gentex (NASDAQ:GNTX) last released its quarterly 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 net margin of 17.49% and a return on equity of 16.74%. During the same period in the prior year, the firm earned $0.50 earnings per share. On average, research analysts expect that Gentex Co. will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The firm 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. This represents a $0.48 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Wednesday, April 9th. Gentex’s dividend payout ratio (DPR) is presently 27.27%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GNTX shares. The Goldman Sachs Group decreased their target price on Gentex from $28.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Baird R W cut Gentex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. B. Riley reaffirmed a “buy” rating and issued a $32.50 target price (down from $37.00) on shares of Gentex in a research 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 objective 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. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $29.06.

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.