Oxford Asset Management LLP Buys Shares of 9,055 Gentex Co. (NASDAQ:GNTX)

by · The Cerbat Gem

Oxford Asset Management LLP purchased a new position in shares of Gentex Co. (NASDAQ:GNTX – Free Report) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 9,055 shares of the auto parts company’s stock, valued at approximately $260,000.

Other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in Gentex by 162.4% in the fourth quarter. JPMorgan Chase & Co. now owns 5,249,230 shares of the auto parts company’s stock valued at $150,810,000 after acquiring an additional 3,248,434 shares during the last quarter. Norges Bank acquired a new position in shares of Gentex in the 4th quarter valued at $51,959,000. Wellington Management Group LLP boosted its position in shares of Gentex by 6.1% in the 4th quarter. Wellington Management Group LLP now owns 18,023,056 shares of the auto parts company’s stock worth $517,802,000 after purchasing an additional 1,038,912 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Gentex during the fourth quarter worth $24,479,000. Finally, American Century Companies Inc. increased its holdings in Gentex by 66.9% in the fourth quarter. American Century Companies Inc. now owns 1,657,397 shares of the auto parts company’s stock valued at $47,617,000 after purchasing an additional 664,389 shares during the last quarter. 86.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. B. Riley restated a “buy” rating and set a $32.50 target price (down from $37.00) on shares of Gentex in a research report on Monday, February 3rd. Baird R W downgraded shares of Gentex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Robert W. Baird reissued a “neutral” rating and set a $25.00 price target (down from $31.00) on shares of Gentex in a research report on Tuesday, April 15th. The Goldman Sachs Group decreased their price target on shares of Gentex from $28.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Finally, UBS Group dropped their price objective on Gentex from $29.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $28.31.

View Our Latest Research Report on GNTX

Gentex Stock Down 2.8 %

Shares of NASDAQ:GNTX opened at $21.36 on Monday. The firm has a market cap of $4.83 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 0.84 and a beta of 0.84. Gentex Co. has a 12 month low of $20.28 and a 12 month high of $35.33. The company’s fifty day simple moving average is $23.23 and its 200 day simple moving average is $26.85.

Gentex (NASDAQ:GNTX – Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The auto parts company reported $0.43 EPS for the quarter, meeting analysts’ consensus estimates of $0.43. The company had revenue of $576.77 million for the quarter, compared to analyst estimates of $578.68 million. 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 posted $0.47 earnings per share. Research analysts expect that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, April 9th. This represents a $0.48 annualized dividend and a yield of 2.25%. Gentex’s payout ratio is presently 28.07%.

Gentex Company Profile

(Free Report)

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.

Further Reading

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