Sigma Planning Corp Has $301,000 Position in Gentex Co. (NASDAQ:GNTX)

Sigma Planning Corp lessened its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 48.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 10,136 shares of the auto parts company’s stock after selling 9,679 shares during the period. Sigma Planning Corp’s holdings in Gentex were worth $301,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Boston Partners grew its stake in shares of Gentex by 4.2% during the first quarter. Boston Partners now owns 5,706,411 shares of the auto parts company’s stock worth $206,095,000 after purchasing an additional 230,873 shares during the period. Burgundy Asset Management Ltd. grew its position in shares of Gentex by 3.0% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,343,880 shares of the auto parts company’s stock worth $146,432,000 after buying an additional 126,416 shares during the period. Disciplined Growth Investors Inc. MN increased its stake in shares of Gentex by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 4,259,831 shares of the auto parts company’s stock valued at $143,599,000 after acquiring an additional 43,457 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Gentex by 14.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,989,248 shares of the auto parts company’s stock valued at $134,475,000 after acquiring an additional 489,689 shares during the period. Finally, Epoch Investment Partners Inc. grew its holdings in Gentex by 8.7% during the second quarter. Epoch Investment Partners Inc. now owns 3,222,359 shares of the auto parts company’s stock valued at $108,626,000 after purchasing an additional 259,109 shares during the period. Institutional investors own 86.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group cut their target price on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. B. Riley dropped their price objective on Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. UBS Group initiated coverage on Gentex in a report on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price target for the company. BNP Paribas cut Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a report on Tuesday, July 30th. Finally, Bank of America lowered their target price on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.00.

Gentex Stock Performance

NASDAQ GNTX opened at $30.15 on Friday. Gentex Co. has a 52 week low of $28.30 and a 52 week high of $37.58. The stock’s 50 day moving average price is $29.87 and its two-hundred day moving average price is $31.81. The stock has a market capitalization of $6.86 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 0.98 and a beta of 0.91.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.59%. The ex-dividend date was Wednesday, October 9th. Gentex’s payout ratio is 25.67%.

Insider Activity at Gentex

In related news, major shareholder Corp Gentex bought 3,152,500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the completion of the acquisition, the insider now owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. The trade was a 95.20 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is owned by insiders.

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.