KLP Kapitalforvaltning AS Purchases Shares of 64,800 Gentex Co. (NASDAQ:GNTX)

KLP Kapitalforvaltning AS acquired a new stake in shares of Gentex Co. (NASDAQ:GNTX) in the fourth quarter, Holdings Channel.com reports. The firm acquired 64,800 shares of the auto parts company’s stock, valued at approximately $1,862,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Midwest Capital Advisors LLC acquired a new stake in Gentex during the fourth quarter worth about $26,000. TD Private Client Wealth LLC boosted 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 in the last quarter. Synergy Asset Management LLC acquired a new stake in shares of Gentex during the 4th quarter worth approximately $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 valued at $70,000 after purchasing an additional 593 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Gentex in the 3rd quarter valued at $125,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Price Performance

NASDAQ GNTX opened at $23.88 on Friday. The stock’s 50 day simple moving average is $25.29 and its 200-day simple moving average is $28.11. Gentex Co. has a 1-year low of $23.50 and a 1-year high of $36.46. The company has a market cap of $5.43 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 0.84 and a beta of 0.90.

Gentex (NASDAQ:GNTX) last issued its earnings results 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 firm earned $0.50 earnings per share. On average, equities research analysts anticipate that Gentex Co. will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

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 $0.12 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $0.48 annualized dividend and a dividend yield of 2.01%. Gentex’s dividend payout ratio is presently 27.27%.

Analysts Set New Price Targets

Several analysts recently commented on GNTX shares. JPMorgan Chase & Co. dropped their price target 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. B. Riley restated a “buy” rating and set 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 Gentex in a report on Wednesday, March 5th. Robert W. Baird set a $31.00 price objective on Gentex in a report on Monday, February 3rd. Finally, UBS Group cut their price objective on Gentex from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Gentex currently has a consensus rating of “Hold” and a consensus 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.