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

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

Other institutional investors have also bought and sold shares of the company. Scharf Investments LLC raised its position in shares of Gentex by 36,001.4% during the 2nd quarter. Scharf Investments LLC now owns 2,278,357 shares of the auto parts company’s stock valued at $76,803,000 after buying an additional 2,272,046 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Gentex by 14.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,989,248 shares of the auto parts company’s stock valued at $134,475,000 after purchasing an additional 489,689 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Gentex by 344.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 589,916 shares of the auto parts company’s stock valued at $19,886,000 after purchasing an additional 457,054 shares during the last quarter. Rice Hall James & Associates LLC purchased a new position in shares of Gentex in the 3rd quarter worth approximately $8,470,000. Finally, Jupiter Asset Management Ltd. bought a new position in shares of Gentex during the 2nd quarter valued at approximately $9,603,000. Institutional investors own 86.76% of the company’s stock.

Gentex Stock Down 1.0 %

GNTX opened at $30.57 on Friday. Gentex Co. has a 52 week low of $28.30 and a 52 week high of $37.58. The company has a market capitalization of $6.95 billion, a P/E ratio of 16.35, a PEG ratio of 1.09 and a beta of 0.91. The stock’s fifty day moving average is $30.03 and its two-hundred day moving average is $31.54.

Gentex Dividend Announcement

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

Analyst Upgrades and Downgrades

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