Envestnet Asset Management Inc. Sells 39,020 Shares of Gentex Co. (NASDAQ:GNTX)

Envestnet Asset Management Inc. lowered its position in Gentex Co. (NASDAQ:GNTX) by 14.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 224,316 shares of the auto parts company’s stock after selling 39,020 shares during the period. Envestnet Asset Management Inc. owned approximately 0.10% of Gentex worth $6,445,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in GNTX. JPMorgan Chase & Co. raised its position in 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 buying an additional 1,285,519 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Gentex by 16.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,787,311 shares of the auto parts company’s stock worth $80,079,000 after buying an additional 386,461 shares in the last quarter. LPL Financial LLC raised its stake in Gentex by 31.6% in the 4th quarter. LPL Financial LLC now owns 189,254 shares of the auto parts company’s stock valued at $5,437,000 after purchasing an additional 45,475 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Gentex in the fourth quarter valued at about $24,479,000. Finally, BCGM Wealth Management LLC lifted its stake in Gentex by 64.2% in the 4th quarter. BCGM Wealth Management LLC now owns 56,743 shares of the auto parts company’s stock worth $1,630,000 after purchasing an additional 22,180 shares in the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Gentex Trading Up 2.3 %

GNTX stock opened at $21.56 on Monday. The company has a market cap of $4.88 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 0.84 and a beta of 0.84. The firm has a 50 day moving average of $23.52 and a 200-day moving average of $27.11. Gentex Co. has a 12-month low of $20.28 and a 12-month high of $35.33.

Gentex (NASDAQ:GNTX) last posted 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 return on equity of 16.74% and a net margin of 17.49%. During the same period in the previous year, the company earned $0.50 EPS. Sell-side analysts forecast that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Wednesday, April 9th. Gentex’s dividend payout ratio (DPR) is presently 27.27%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. B. Riley reiterated a “buy” rating and issued a $32.50 target price (down from $37.00) on shares of Gentex in a report on Monday, February 3rd. The Goldman Sachs Group lowered their price objective on shares of Gentex from $28.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. UBS Group cut their price target on Gentex from $29.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Baird R W lowered shares of Gentex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $25.00 price target (down from $31.00) on shares of Gentex in a report on Tuesday, April 15th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $29.06.

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.