Parallel Advisors LLC Cuts Stock Position in Gentex Co. (NASDAQ:GNTX)

Parallel Advisors LLC cut its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 6.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,452 shares of the auto parts company’s stock after selling 925 shares during the period. Parallel Advisors LLC’s holdings in Gentex were worth $415,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Midwest Capital Advisors LLC purchased a new stake in shares of Gentex during the fourth quarter worth $26,000. Synergy Asset Management LLC purchased a new stake in Gentex during the 4th quarter worth about $34,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in 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. Wilmington Savings Fund Society FSB purchased a new stake in Gentex during the 3rd quarter worth about $125,000. Finally, GAMMA Investing LLC increased its stake 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 buying an additional 3,152 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Stock Down 0.7 %

NASDAQ:GNTX opened at $23.91 on Friday. The company has a market capitalization of $5.43 billion, a PE ratio of 13.59, a P/E/G ratio of 0.84 and a beta of 0.90. The stock’s 50 day moving average price is $25.53 and its 200 day moving average price is $28.27. Gentex Co. has a 52-week low of $23.50 and a 52-week high of $36.49.

Gentex (NASDAQ:GNTX) last announced its 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 return on equity of 16.74% and a net margin of 17.49%. During the same quarter in the previous year, the business earned $0.50 EPS. As a group, sell-side analysts anticipate that Gentex Co. will post 2.04 EPS for the current fiscal year.

Gentex Dividend Announcement

The business also recently declared 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 dividend yield of 2.01%. The ex-dividend date is Wednesday, April 9th. Gentex’s dividend payout ratio is currently 27.27%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. B. Riley restated 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. UBS Group dropped their target price on Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Robert W. Baird set a $31.00 target price on Gentex in a report on Monday, February 3rd. Guggenheim set a $30.00 target price on Gentex in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lowered their price target on Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Gentex currently has an average rating of “Hold” and an average target price 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.