Gentex Co. (NASDAQ:GNTX) Stock Position Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in Gentex Co. (NASDAQ:GNTX) by 30.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 533,001 shares of the auto parts company’s stock after selling 236,864 shares during the quarter. Principal Financial Group Inc. owned about 0.23% of Gentex worth $15,825,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new stake in Gentex in the second quarter valued at approximately $31,000. EverSource Wealth Advisors LLC raised its holdings 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Gentex by 227.8% in 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 last quarter. HHM Wealth Advisors LLC bought a new stake in Gentex in the second quarter worth $67,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Gentex during the 3rd quarter valued at about $125,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Gentex Stock Performance

GNTX opened at $29.21 on Friday. Gentex Co. has a twelve month low of $28.30 and a twelve month high of $37.58. The firm’s 50-day simple moving average is $30.16 and its 200-day simple moving average is $30.88. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 1.09 and a beta of 0.91.

Gentex Announces Dividend

The company 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 yield of 1.64%. The ex-dividend date of this dividend is Wednesday, January 8th. Gentex’s dividend payout ratio is 25.67%.

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.