Gentex Co. (NASDAQ:GNTX) Holdings Decreased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 1.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 148,915 shares of the auto parts company’s stock after selling 2,767 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Gentex were worth $4,421,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. O Shaughnessy Asset Management LLC grew its stake in Gentex by 18.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 9,826 shares of the auto parts company’s stock valued at $355,000 after purchasing an additional 1,513 shares in the last quarter. Bessemer Group Inc. grew its stake in Gentex by 110.0% in the first quarter. Bessemer Group Inc. now owns 8,079 shares of the auto parts company’s stock valued at $292,000 after purchasing an additional 4,231 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in Gentex by 1.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 150,102 shares of the auto parts company’s stock valued at $5,417,000 after purchasing an additional 1,488 shares in the last quarter. Toronto Dominion Bank grew its stake in Gentex by 0.9% in the first quarter. Toronto Dominion Bank now owns 42,346 shares of the auto parts company’s stock valued at $1,530,000 after purchasing an additional 370 shares in the last quarter. Finally, BOKF NA grew its stake in Gentex by 3.2% in the first quarter. BOKF NA now owns 30,053 shares of the auto parts company’s stock valued at $1,086,000 after purchasing an additional 928 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Stock Performance

NASDAQ GNTX opened at $30.40 on Monday. The stock has a 50-day simple moving average of $29.92 and a 200 day simple moving average of $31.61. The stock has a market capitalization of $6.91 billion, a PE ratio of 16.26, a P/E/G ratio of 0.97 and a beta of 0.91. Gentex Co. has a twelve month low of $28.30 and a twelve month high of $37.58.

Gentex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.48 annualized dividend and a yield of 1.58%. Gentex’s dividend payout ratio (DPR) is 25.67%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GNTX. Bank of America reduced their price target on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Robert W. Baird boosted their price target on Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. B. Riley reduced their price target on Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Monday, July 29th. UBS Group began coverage on Gentex in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price target for the company. Finally, The Goldman Sachs Group reduced 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. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Gentex presently has an average rating of “Hold” and an average target price of $35.13.

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.