Cambiar Investors LLC Cuts Stock Holdings in Gentex Co. (NASDAQ:GNTX)

Cambiar Investors LLC decreased its position in shares of Gentex Co. (NASDAQ:GNTX) by 24.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 326,088 shares of the auto parts company’s stock after selling 105,888 shares during the period. Cambiar Investors LLC’s holdings in Gentex were worth $9,369,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Lightrock Netherlands B.V. purchased a new stake in Gentex in the fourth quarter worth approximately $9,443,000. Entropy Technologies LP purchased a new stake in Gentex in the fourth quarter worth approximately $290,000. Empowered Funds LLC boosted its holdings in Gentex by 4.9% in the fourth quarter. Empowered Funds LLC now owns 22,819 shares of the auto parts company’s stock worth $656,000 after purchasing an additional 1,071 shares during the last quarter. Hendershot Investments Inc. boosted its holdings in Gentex by 3.8% in the fourth quarter. Hendershot Investments Inc. now owns 659,066 shares of the auto parts company’s stock worth $18,935,000 after purchasing an additional 24,231 shares during the last quarter. Finally, Cidel Asset Management Inc. purchased a new stake in Gentex in the fourth quarter worth approximately $11,815,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GNTX shares. B. Riley restated a “buy” rating and issued a $32.50 target price (down previously from $37.00) on shares of Gentex in a report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price target on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Bank of America dropped their price target on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. UBS Group dropped their price target on shares of Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Finally, Guggenheim dropped their price target on shares of Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Gentex has an average rating of “Hold” and an average price target of $33.06.

Gentex Stock Performance

GNTX opened at $24.81 on Tuesday. Gentex Co. has a fifty-two week low of $24.57 and a fifty-two week high of $37.58. The firm’s fifty day moving average is $28.39 and its 200 day moving average is $29.46. The stock has a market cap of $5.64 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 0.86 and a beta of 0.91.

Gentex (NASDAQ:GNTX) last released 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 quarter in the previous year, the firm posted $0.50 EPS. On average, equities research analysts predict that Gentex Co. will post 2.04 earnings per share for the current year.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Wednesday, January 8th. Gentex’s dividend payout ratio (DPR) is 27.27%.

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.