BNP Paribas Financial Markets Has $1.23 Million Stock Holdings in Gentex Co. (NASDAQ:GNTX)

BNP Paribas Financial Markets cut its holdings in Gentex Co. (NASDAQ:GNTX) by 17.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 42,657 shares of the auto parts company’s stock after selling 8,736 shares during the quarter. BNP Paribas Financial Markets’ holdings in Gentex were worth $1,226,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bank of New York Mellon Corp lifted its stake in Gentex by 16.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,787,311 shares of the auto parts company’s stock valued at $80,079,000 after acquiring an additional 386,461 shares in the last quarter. LPL Financial LLC lifted 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 acquiring an additional 45,475 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Gentex in the 4th quarter valued at approximately $24,479,000. Marshall Wace LLP bought a new stake in Gentex in the 4th quarter valued at approximately $10,868,000. 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 valued at $1,630,000 after acquiring an additional 22,180 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Gentex Stock Down 0.1%

Shares of Gentex stock opened at $23.04 on Tuesday. Gentex Co. has a 12-month low of $20.28 and a 12-month high of $35.32. The stock has a market cap of $5.18 billion, a P/E ratio of 13.09, a P/E/G ratio of 0.84 and a beta of 0.85. The business’s 50 day moving average is $22.47 and its 200-day moving average is $25.98.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, April 25th. The auto parts company reported $0.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.43. Gentex had a return on equity of 16.74% and a net margin of 17.49%. The business had revenue of $576.77 million for the quarter, compared to analysts’ expectations of $578.68 million. During the same quarter in the prior year, the business earned $0.47 EPS. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, sell-side analysts expect that Gentex Co. will post 2.04 EPS for the current year.

Gentex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Wednesday, April 9th. Gentex’s dividend payout ratio (DPR) is presently 28.07%.

Insider Activity at Gentex

In related news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $22.87, for a total value of $86,082.68. Following the sale, the director now owns 5,939 shares in the company, valued at approximately $135,824.93. This represents a 38.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.45% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. B. Riley restated a “buy” rating and issued a $32.50 target price (down previously from $37.00) on shares of Gentex in a research note on Monday, February 3rd. Robert W. Baird restated a “neutral” rating and issued a $25.00 target price (down previously from $31.00) on shares of Gentex in a research note on Tuesday, April 15th. UBS Group cut their target price on Gentex from $29.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Guggenheim dropped their price objective on Gentex from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. dropped their price objective on Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $28.31.

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.