Ellevest Inc. lowered its stake in Gentex Co. (NASDAQ:GNTX – Get Rating) by 56.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,536 shares of the auto parts company's stock after selling 3,308 shares during the period. Ellevest Inc.'s holdings in Gentex were worth $71,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Wagner Wealth Management LLC bought a new stake in Gentex in the fourth quarter valued at $35,000. Covestor Ltd boosted its holdings in Gentex by 79.2% in the first quarter. Covestor Ltd now owns 1,887 shares of the auto parts company's stock valued at $55,000 after acquiring an additional 834 shares in the last quarter. Hardy Reed LLC bought a new stake in Gentex in the first quarter valued at $98,000. Twin Tree Management LP bought a new stake in Gentex in the first quarter valued at $124,000. Finally, CWM LLC boosted its holdings in Gentex by 12.0% in the first quarter. CWM LLC now owns 4,578 shares of the auto parts company's stock valued at $134,000 after acquiring an additional 490 shares in the last quarter. Institutional investors own 86.54% of the company's stock.
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Wall Street Analyst Weigh In
Several equities analysts have commented on GNTX shares. B. Riley lowered their price objective on Gentex from $37.50 to $35.00 and set a "buy" rating for the company in a research report on Monday, July 25th. TheStreet lowered Gentex from a "b-" rating to a "c" rating in a research report on Friday, July 22nd. Seaport Res Ptn reissued a "buy" rating on shares of Gentex in a research report on Sunday, July 31st. Bank of America lowered their price objective on Gentex from $31.00 to $30.00 in a research report on Friday, September 9th. Finally, StockNews.com lowered Gentex from a "buy" rating to a "hold" rating in a research report on Saturday, August 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.40.
Gentex Price Performance
GNTX opened at $23.84 on Friday. The stock has a 50-day moving average price of $27.19 and a 200-day moving average price of $28.34. The firm has a market cap of $5.61 billion, a PE ratio of 17.66, a P/E/G ratio of 1.23 and a beta of 0.88. Gentex Co. has a 1 year low of $23.70 and a 1 year high of $37.90.
Gentex Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 19th. Investors of record on Friday, October 7th will be issued a $0.12 dividend. The ex-dividend date is Thursday, October 6th. This represents a $0.48 annualized dividend and a yield of 2.01%. Gentex's payout ratio is 35.56%.
About Gentex
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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, 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.
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