Fox Run Management L.L.C. Boosts Stock Position in Gentex Co. (NASDAQ:GNTX)

Fox Run Management L.L.C. increased its stake in shares of Gentex Co. (NASDAQ:GNTX) by 198.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,054 shares of the auto parts company’s stock after buying an additional 15,990 shares during the quarter. Fox Run Management L.L.C.’s holdings in Gentex were worth $691,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of Gentex by 179.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company’s stock worth $59,404,000 after acquiring an additional 1,285,519 shares during the period. Raymond James Financial Inc. acquired a new stake in Gentex during the fourth quarter worth about $24,479,000. American Century Companies Inc. raised its stake in Gentex by 66.9% during the fourth quarter. American Century Companies Inc. now owns 1,657,397 shares of the auto parts company’s stock worth $47,617,000 after purchasing an additional 664,389 shares during the period. Bridgewater Associates LP raised its stake in Gentex by 249.1% during the third quarter. Bridgewater Associates LP now owns 617,657 shares of the auto parts company’s stock worth $18,338,000 after purchasing an additional 440,725 shares during the period. Finally, Cidel Asset Management Inc. acquired a new position in Gentex in the 4th quarter valued at about $11,815,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. UBS Group cut their price target on shares of Gentex from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Robert W. Baird set a $31.00 target price on Gentex in a research report on Monday, February 3rd. 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. Guggenheim set a $30.00 price objective on shares of Gentex in a report on Wednesday, March 5th. Finally, B. Riley reaffirmed a “buy” rating and set a $32.50 target price (down previously from $37.00) on shares of Gentex in a research note on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $31.81.

Gentex Price Performance

NASDAQ GNTX opened at $24.43 on Tuesday. The company has a market cap of $5.55 billion, a P/E ratio of 13.88, a P/E/G ratio of 0.84 and a beta of 0.90. Gentex Co. has a 1-year low of $23.50 and a 1-year high of $36.46. The stock has a 50-day moving average of $25.47 and a two-hundred day moving average of $28.20.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, January 31st. The auto parts company reported $0.39 earnings per share 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 posted $0.50 earnings per share. On average, analysts anticipate that Gentex Co. will post 2.04 EPS for the current fiscal year.

Gentex Dividend Announcement

The business also recently disclosed 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 1.96%. The ex-dividend date of this dividend is Wednesday, April 9th. Gentex’s payout ratio is currently 27.27%.

Gentex 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.