Synergy Asset Management LLC Purchases Shares of 1,143 Gentex Co. (NASDAQ:GNTX)

Synergy Asset Management LLC acquired a new position in shares of Gentex Co. (NASDAQ:GNTX) during the fourth quarter, HoldingsChannel reports. The firm acquired 1,143 shares of the auto parts company’s stock, valued at approximately $34,000.

Several other large investors also recently made changes to their positions in the stock. AQR Capital Management LLC lifted its stake in Gentex by 6.3% in the second quarter. AQR Capital Management LLC now owns 140,831 shares of the auto parts company’s stock valued at $4,725,000 after acquiring an additional 8,374 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Gentex by 1.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 209,219 shares of the auto parts company’s stock valued at $7,053,000 after purchasing an additional 3,764 shares during the last quarter. Creative Planning grew its holdings in Gentex by 4.1% during the second quarter. Creative Planning now owns 60,685 shares of the auto parts company’s stock worth $2,046,000 after purchasing an additional 2,393 shares during the period. Truist Financial Corp increased its position in Gentex by 22.5% during the second quarter. Truist Financial Corp now owns 642,283 shares of the auto parts company’s stock worth $21,651,000 after buying an additional 117,843 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in Gentex by 22.9% in the second quarter. Cetera Investment Advisers now owns 157,214 shares of the auto parts company’s stock valued at $5,300,000 after buying an additional 29,338 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Wall Street Analysts Forecast Growth

GNTX has been the subject of several research analyst reports. Robert W. Baird boosted their target price on Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Bank of America decreased their price objective on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Finally, Guggenheim lowered their price objective on Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Gentex presently has a consensus rating of “Hold” and an average target price of $35.13.

Gentex Stock Down 8.2 %

Gentex stock opened at $25.92 on Friday. The stock has a market cap of $5.90 billion, a PE ratio of 13.86, a P/E/G ratio of 0.92 and a beta of 0.91. Gentex Co. has a 12-month low of $25.10 and a 12-month high of $37.58. The business’s 50-day moving average price is $29.03 and its two-hundred day moving average price is $29.88.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data 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 18.25% and a net margin of 18.37%. During the same quarter last year, the firm earned $0.50 EPS. As a group, analysts expect that Gentex Co. will post 1.86 earnings per share for the current year.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th were issued a $0.12 dividend. The ex-dividend date was Wednesday, January 8th. This represents a $0.48 dividend on an annualized basis and a yield of 1.85%. Gentex’s payout ratio is presently 25.67%.

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.