Gentex Co. (NASDAQ:GNTX) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lowered its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 0.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,410 shares of the auto parts company’s stock after selling 480 shares during the period. Nisa Investment Advisors LLC owned approximately 0.06% of Gentex worth $4,109,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GNTX. State of Alaska Department of Revenue lifted its stake in shares of Gentex by 1.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 104,287 shares of the auto parts company’s stock worth $3,096,000 after acquiring an additional 1,440 shares during the period. Outlook Wealth Advisors LLC lifted its position in Gentex by 12.6% in the third quarter. Outlook Wealth Advisors LLC now owns 10,309 shares of the auto parts company’s stock worth $306,000 after purchasing an additional 1,157 shares during the period. BayBridge Capital Group LLC boosted its stake in Gentex by 11.8% during the 3rd quarter. BayBridge Capital Group LLC now owns 13,833 shares of the auto parts company’s stock valued at $411,000 after purchasing an additional 1,456 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Gentex by 24.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 76,016 shares of the auto parts company’s stock valued at $2,257,000 after purchasing an additional 15,145 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of Gentex by 4.3% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 58,442 shares of the auto parts company’s stock valued at $1,735,000 after purchasing an additional 2,388 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on GNTX. UBS Group started coverage on Gentex in a research note on Wednesday, September 4th. They set a “neutral” rating and a $34.00 target price for the company. The Goldman Sachs Group reduced 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. Bank of America dropped their target price 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. JPMorgan Chase & Co. reduced their target price on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Finally, B. Riley decreased their price target on shares of Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Monday, July 29th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $36.00.

Gentex Price Performance

GNTX stock opened at $30.53 on Friday. The company’s 50 day simple moving average is $29.97 and its 200-day simple moving average is $32.08. Gentex Co. has a 52-week low of $28.30 and a 52-week high of $37.58. The firm has a market capitalization of $7.03 billion, a P/E ratio of 16.33, a P/E/G ratio of 1.01 and a beta of 0.92.

Gentex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Wednesday, October 9th. Gentex’s dividend payout ratio is currently 25.67%.

Insiders Place Their Bets

In other Gentex news, major shareholder Corp Gentex bought 3,152,500 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were bought at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the acquisition, the insider now directly owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

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.