Edgestream Partners L.P. Trims Holdings in Gentex Corporation $GNTX

Edgestream Partners L.P. lowered its stake in shares of Gentex Corporation (NASDAQ:GNTX) by 53.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 136,089 shares of the auto parts company’s stock after selling 153,364 shares during the period. Edgestream Partners L.P. owned 0.06% of Gentex worth $2,993,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Addison Advisors LLC acquired a new position in shares of Gentex during the 2nd quarter valued at about $25,000. Brooklyn Investment Group increased its position in Gentex by 305.7% during the first quarter. Brooklyn Investment Group now owns 1,217 shares of the auto parts company’s stock worth $28,000 after purchasing an additional 917 shares during the last quarter. State of Wyoming purchased a new position in Gentex during the first quarter worth about $45,000. Steph & Co. purchased a new position in Gentex during the second quarter worth about $45,000. Finally, UMB Bank n.a. boosted its holdings in Gentex by 34.4% in the 2nd quarter. UMB Bank n.a. now owns 2,854 shares of the auto parts company’s stock valued at $63,000 after purchasing an additional 730 shares during the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GNTX has been the subject of a number of recent analyst reports. The Goldman Sachs Group set a $27.00 price target on shares of Gentex and gave the company a “neutral” rating in a research report on Monday, October 27th. JPMorgan Chase & Co. raised their target price on Gentex from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. UBS Group reaffirmed a “neutral” rating and issued a $29.00 price target (up previously from $28.00) on shares of Gentex in a research note on Monday, October 6th. Robert W. Baird set a $29.00 price target on Gentex in a report on Monday, October 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Gentex in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $28.29.

Gentex Stock Up 0.5%

GNTX opened at $23.12 on Friday. Gentex Corporation has a 52 week low of $20.28 and a 52 week high of $31.25. The business has a fifty day simple moving average of $24.56 and a 200-day simple moving average of $24.78. The firm has a market cap of $5.06 billion, a P/E ratio of 13.60 and a beta of 0.78.

Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, October 24th. The auto parts company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). Gentex had a return on equity of 15.86% and a net margin of 15.61%.The firm had revenue of $570.32 million for the quarter, compared to analyst estimates of $661.10 million. During the same period in the previous year, the company posted $0.53 EPS. Gentex’s revenue was up 7.7% on a year-over-year basis. Sell-side analysts expect that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Wednesday, January 7th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, January 7th. This represents a $0.48 annualized dividend and a dividend yield of 2.1%. Gentex’s dividend payout ratio (DPR) is presently 28.24%.

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.