HighTower Advisors LLC Cuts Stock Holdings in Gentex Co. (NASDAQ:GNTX)

HighTower Advisors LLC decreased its position in shares of Gentex Co. (NASDAQ:GNTX) by 7.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,053 shares of the auto parts company’s stock after selling 7,507 shares during the quarter. HighTower Advisors LLC’s holdings in Gentex were worth $2,797,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Quest Partners LLC purchased a new stake in shares of Gentex during the second quarter valued at approximately $31,000. Gladius Capital Management LP purchased a new position in shares of Gentex during the 2nd quarter worth $34,000. EverSource Wealth Advisors LLC raised its position 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 valued at $42,000 after purchasing an additional 850 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised 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 purchasing an additional 1,269 shares during the period. Finally, HHM Wealth Advisors LLC bought a new stake in shares of Gentex during the 2nd quarter valued at $67,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on GNTX shares. 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. Bank of America reduced their price target on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Guggenheim reduced their target price on shares of Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. UBS Group started coverage on shares of Gentex in a report on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 target price on the stock. Finally, The Goldman Sachs Group reduced 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. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Gentex has an average rating of “Hold” and a consensus price target of $35.13.

Gentex Trading Down 1.1 %

GNTX stock opened at $30.58 on Friday. Gentex Co. has a 12 month low of $28.30 and a 12 month high of $37.58. The company has a 50-day moving average price of $30.07 and a 200 day moving average price of $31.26. The stock has a market cap of $6.95 billion, a PE ratio of 16.43, a P/E/G ratio of 1.05 and a beta of 0.91.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, January 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.57%. Gentex’s dividend payout ratio is presently 25.67%.

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.