IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 1,751 Shares of Gentex Co. (NASDAQ:GNTX)

IQ EQ FUND MANAGEMENT IRELAND Ltd lowered its stake in Gentex Co. (NASDAQ:GNTX) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,713 shares of the auto parts company’s stock after selling 1,751 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Gentex were worth $969,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position in Gentex by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,554,823 shares of the auto parts company’s stock valued at $46,163,000 after buying an additional 6,106 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of Gentex by 327.8% during the 3rd quarter. Citigroup Inc. now owns 483,842 shares of the auto parts company’s stock valued at $14,365,000 after acquiring an additional 370,746 shares in the last quarter. Quantbot Technologies LP bought a new stake in Gentex during the 3rd quarter worth $2,441,000. BNP Paribas Financial Markets raised its position in Gentex by 26.2% in the third quarter. BNP Paribas Financial Markets now owns 51,393 shares of the auto parts company’s stock valued at $1,526,000 after purchasing an additional 10,658 shares during the last quarter. Finally, Bridgewater Associates LP increased its stake in shares of Gentex by 249.1% in the third quarter. Bridgewater Associates LP now owns 617,657 shares of the auto parts company’s stock valued at $18,338,000 after buying an additional 440,725 shares during the period. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Gentex Trading Down 3.6 %

Gentex stock opened at $23.88 on Friday. Gentex Co. has a 1-year low of $23.50 and a 1-year high of $36.46. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 0.84 and a beta of 0.90. The firm’s fifty day moving average price is $25.29 and its two-hundred day moving average price is $28.11.

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 return on equity of 16.74% and a net margin of 17.49%. During the same period in the prior year, the company posted $0.50 EPS. On average, research analysts forecast that Gentex Co. will post 2.04 EPS for the current year.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.01%. Gentex’s payout ratio is presently 27.27%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on GNTX shares. JPMorgan Chase & Co. dropped their price target on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Guggenheim set a $30.00 price objective on Gentex in a research note on Wednesday, March 5th. B. Riley reissued a “buy” rating and set a $32.50 target price (down previously from $37.00) on shares of Gentex in a research report on Monday, February 3rd. 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 report on Monday, February 3rd. Finally, Robert W. Baird set a $31.00 price objective on shares of Gentex in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $31.81.

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.