Amalgamated Bank Trims Stock Holdings in Gentex Co. (NASDAQ:GNTX)

Amalgamated Bank lowered its stake in shares of Gentex Co. (NASDAQ:GNTX) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 108,526 shares of the auto parts company’s stock after selling 5,990 shares during the period. Amalgamated Bank’s holdings in Gentex were worth $3,118,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GNTX. EdgePoint Investment Group Inc. boosted its stake in shares of Gentex by 1.5% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 7,699,919 shares of the auto parts company’s stock worth $228,611,000 after purchasing an additional 111,500 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Gentex by 5.6% during the third quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company’s stock valued at $159,406,000 after buying an additional 285,802 shares during the period. Disciplined Growth Investors Inc. MN grew its stake in Gentex by 5.5% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 4,493,914 shares of the auto parts company’s stock worth $133,424,000 after acquiring an additional 234,083 shares during the period. Bank of New York Mellon Corp grew 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 worth $80,079,000 after acquiring an additional 386,461 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Gentex by 179.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company’s stock valued at $59,404,000 after acquiring an additional 1,285,519 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. B. Riley restated a “buy” rating and set a $32.50 price objective (down previously from $37.00) on shares of Gentex in a report on Monday, February 3rd. Guggenheim lowered their price target on Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, November 21st. UBS Group dropped their price objective on shares of Gentex from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. decreased their target price on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Finally, Robert W. Baird set a $31.00 price target on shares of Gentex in a research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $32.31.

Gentex Price Performance

Gentex stock opened at $24.32 on Friday. The firm has a fifty day moving average of $26.70 and a 200-day moving average of $28.90. Gentex Co. has a 52-week low of $24.07 and a 52-week high of $37.58. The firm has a market capitalization of $5.53 billion, a P/E ratio of 13.82, a PEG ratio of 0.84 and a beta of 0.91.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period last year, the company earned $0.50 earnings per share. On average, research analysts expect that Gentex Co. will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The business 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 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Wednesday, April 9th. Gentex’s dividend payout ratio is presently 27.27%.

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.