Intech Investment Management LLC Trims Position in Gentex Co. (NASDAQ:GNTX)

Intech Investment Management LLC decreased its position in Gentex Co. (NASDAQ:GNTX) by 7.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,425 shares of the auto parts company’s stock after selling 2,345 shares during the quarter. Intech Investment Management LLC’s holdings in Gentex were worth $844,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GNTX. Quest Partners LLC purchased a new position in shares of Gentex in the second quarter worth approximately $31,000. Gladius Capital Management LP bought a new position in Gentex in the second quarter worth approximately $34,000. EverSource Wealth Advisors LLC boosted its stake in shares of Gentex by 173.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock worth $42,000 after acquiring an additional 850 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Gentex by 227.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock valued at $54,000 after acquiring an additional 1,269 shares during the period. Finally, HHM Wealth Advisors LLC purchased a new stake in shares of Gentex in the 2nd quarter worth $67,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Stock Performance

GNTX stock opened at $30.57 on Friday. The company’s fifty day moving average price is $30.03 and its 200-day moving average price is $31.54. Gentex Co. has a one year low of $28.30 and a one year high of $37.58. The company has a market capitalization of $6.95 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 1.09 and a beta of 0.91.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Wednesday, January 8th. Gentex’s dividend payout ratio (DPR) is presently 25.67%.

Wall Street Analyst Weigh In

GNTX has been the topic of several analyst reports. Guggenheim lowered their target price on Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. UBS Group assumed coverage on Gentex in a research report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price objective on the stock. The Goldman Sachs Group reduced their target price on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Robert W. Baird lifted their price target on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Finally, Bank of America reduced their price objective on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $35.13.

Gentex 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.