Endurance Wealth Management Inc. lessened its holdings in Gentex Co. (NASDAQ:GNTX – Get Rating) by 31.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,121 shares of the auto parts company's stock after selling 2,311 shares during the period. Endurance Wealth Management Inc.'s holdings in Gentex were worth $143,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Ariel Investments LLC increased its stake in Gentex by 92.4% during the 1st quarter. Ariel Investments LLC now owns 8,174,011 shares of the auto parts company's stock worth $238,436,000 after buying an additional 3,925,355 shares during the period. Cooke & Bieler LP grew its holdings in Gentex by 37.9% during the 1st quarter. Cooke & Bieler LP now owns 5,332,397 shares of the auto parts company's stock worth $155,546,000 after acquiring an additional 1,466,490 shares in the last quarter. Marshall Wace LLP grew its holdings in Gentex by 1,797.6% during the 4th quarter. Marshall Wace LLP now owns 1,241,395 shares of the auto parts company's stock worth $43,262,000 after acquiring an additional 1,175,976 shares in the last quarter. Beutel Goodman & Co Ltd. grew its holdings in Gentex by 18.1% during the 1st quarter. Beutel Goodman & Co Ltd. now owns 4,978,316 shares of the auto parts company's stock worth $145,217,000 after acquiring an additional 762,037 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Gentex by 13.3% during the 1st quarter. Wellington Management Group LLP now owns 3,446,434 shares of the auto parts company's stock worth $100,532,000 after acquiring an additional 404,781 shares in the last quarter. Hedge funds and other institutional investors own 86.54% of the company's stock.
Get Gentex alerts:Gentex Price Performance
NASDAQ GNTX opened at $24.19 on Friday. The company's 50 day simple moving average is $27.26 and its 200 day simple moving average is $28.37. Gentex Co. has a 12 month low of $23.70 and a 12 month high of $37.90. The company has a market capitalization of $5.69 billion, a P/E ratio of 17.92, a PEG ratio of 1.23 and a beta of 0.88.
Gentex Dividend Announcement
The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.98%. Gentex's payout ratio is currently 35.56%.Analyst Upgrades and Downgrades
Several research analysts have recently commented on the stock. StockNews.com lowered shares of Gentex from a "buy" rating to a "hold" rating in a report on Saturday, August 6th. TheStreet lowered shares of Gentex from a "b-" rating to a "c" rating in a research note on Friday, July 22nd. Seaport Res Ptn reissued a "buy" rating on shares of Gentex in a research note on Sunday, July 31st. B. Riley dropped their price target on shares of Gentex from $37.50 to $35.00 and set a "buy" rating on the stock in a research report on Monday, July 25th. Finally, Bank of America dropped their price target on shares of Gentex from $31.00 to $30.00 in a research report on Friday, September 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Gentex has an average rating of "Moderate Buy" and a consensus price target of $31.40.
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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