Headlands Technologies LLC Makes New Investment in Gentex Co. (NASDAQ:GNTX)

Headlands Technologies LLC purchased a new stake in Gentex Co. (NASDAQ:GNTX) during the 4th quarter, HoldingsChannel reports. The firm purchased 11,480 shares of the auto parts company’s stock, valued at approximately $330,000.

A number of other institutional investors have also made changes to their positions in GNTX. BNP Paribas Financial Markets boosted its position in shares of Gentex by 26.2% in the third quarter. BNP Paribas Financial Markets now owns 51,393 shares of the auto parts company’s stock valued at $1,526,000 after acquiring an additional 10,658 shares during the period. Verition Fund Management LLC acquired a new stake in Gentex in the 3rd quarter worth $366,000. Chevy Chase Trust Holdings LLC increased its holdings in shares of Gentex by 148.5% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 198,763 shares of the auto parts company’s stock worth $5,901,000 after purchasing an additional 118,781 shares during the period. Centiva Capital LP acquired a new position in shares of Gentex during the third quarter valued at about $806,000. Finally, Holocene Advisors LP lifted its stake in shares of Gentex by 701.2% in the third quarter. Holocene Advisors LP now owns 91,703 shares of the auto parts company’s stock valued at $2,723,000 after buying an additional 80,258 shares during the period. 86.76% of the stock is currently owned by institutional investors.

Gentex Price Performance

GNTX stock opened at $22.14 on Friday. The business has a fifty day moving average price of $24.70 and a 200 day moving average price of $27.85. Gentex Co. has a fifty-two week low of $21.56 and a fifty-two week high of $36.24. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 0.84 and a beta of 0.90.

Gentex (NASDAQ:GNTX) last announced its earnings results 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 period last year, the business earned $0.50 earnings per share. On average, equities analysts expect that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, April 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.17%. Gentex’s payout ratio is 27.27%.

Wall Street Analyst Weigh In

Several equities analysts have commented on GNTX shares. Robert W. Baird set a $31.00 price target on Gentex in a report on Monday, February 3rd. B. Riley reaffirmed a “buy” rating and set a $32.50 price objective (down from $37.00) on shares of Gentex in a report on Monday, February 3rd. Guggenheim set a $30.00 price target on shares of Gentex in a research report on Wednesday, March 5th. UBS Group decreased their price objective on Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped their target price on Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Gentex currently has a consensus rating of “Hold” and an average target price of $31.81.

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.