FORA Capital LLC Has $924,000 Position in Gentex Co. (NASDAQ:GNTX)

FORA Capital LLC lifted its position in Gentex Co. (NASDAQ:GNTX) by 12.9% during the 4th quarter, Holdings Channel reports. The firm owned 32,174 shares of the auto parts company’s stock after buying an additional 3,672 shares during the quarter. FORA Capital LLC’s holdings in Gentex were worth $924,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in GNTX. JPMorgan Chase & Co. grew its stake in Gentex by 162.4% during the fourth quarter. JPMorgan Chase & Co. now owns 5,249,230 shares of the auto parts company’s stock worth $150,810,000 after buying an additional 3,248,434 shares during the last quarter. Norges Bank bought a new stake in Gentex during the 4th quarter worth approximately $51,959,000. Wellington Management Group LLP raised its position in Gentex by 6.1% in the 4th quarter. Wellington Management Group LLP now owns 18,023,056 shares of the auto parts company’s stock valued at $517,802,000 after purchasing an additional 1,038,912 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Gentex during the fourth quarter worth $24,479,000. Finally, American Century Companies Inc. increased its stake in shares of Gentex by 66.9% in the fourth quarter. American Century Companies Inc. now owns 1,657,397 shares of the auto parts company’s stock valued at $47,617,000 after buying an additional 664,389 shares in the last quarter. 86.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Robert W. Baird restated a “neutral” rating and issued a $25.00 price objective (down previously from $31.00) on shares of Gentex in a research report on Tuesday, April 15th. UBS Group dropped their price objective on shares of Gentex from $29.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Guggenheim decreased their price objective on Gentex from $30.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Baird R W downgraded Gentex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Finally, B. Riley reiterated a “buy” rating and issued a $32.50 price target (down previously from $37.00) on shares of Gentex 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $28.31.

Gentex Stock Performance

Shares of NASDAQ:GNTX opened at $22.21 on Friday. The company has a 50 day moving average price of $22.71 and a two-hundred day moving average price of $26.36. The company has a market capitalization of $5.03 billion, a PE ratio of 12.62, a PEG ratio of 0.84 and a beta of 0.85. Gentex Co. has a 52 week low of $20.28 and a 52 week high of $35.33.

Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, April 25th. The auto parts company reported $0.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.43. The firm had revenue of $576.77 million during the quarter, compared to analysts’ expectations of $578.68 million. Gentex had a return on equity of 16.74% and a net margin of 17.49%. The company’s revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 earnings per share. On average, sell-side analysts forecast that Gentex Co. will post 2.04 earnings per share for the current year.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.16%. The ex-dividend date was Wednesday, April 9th. Gentex’s dividend payout ratio is 28.07%.

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.