Castleark Management LLC Sells 91,800 Shares of Gentex Co. (NASDAQ:GNTX)

Castleark Management LLC lessened its stake in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 91.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 8,620 shares of the auto parts company's stock after selling 91,800 shares during the quarter. Castleark Management LLC's holdings in Gentex were worth $256,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GNTX. CWM LLC boosted its holdings in shares of Gentex by 7.3% during the second quarter. CWM LLC now owns 10,265 shares of the auto parts company's stock worth $346,000 after acquiring an additional 695 shares during the period. QRG Capital Management Inc. acquired a new position in Gentex in the 2nd quarter valued at $205,000. SG Americas Securities LLC grew its holdings in Gentex by 15.9% in the 2nd quarter. SG Americas Securities LLC now owns 10,124 shares of the auto parts company's stock valued at $341,000 after buying an additional 1,387 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Gentex by 31.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 35,286 shares of the auto parts company's stock worth $1,189,000 after buying an additional 8,536 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Gentex by 50.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 9,485 shares of the auto parts company's stock worth $320,000 after buying an additional 3,187 shares in the last quarter. Institutional investors own 86.76% of the company's stock.

Gentex Stock Up 0.0 %

Gentex stock traded up $0.01 during mid-day trading on Friday, hitting $29.76. 940,120 shares of the stock were exchanged, compared to its average volume of 1,162,214. The firm's fifty day simple moving average is $29.99 and its two-hundred day simple moving average is $31.31. Gentex Co. has a 12 month low of $28.30 and a 12 month high of $37.58. The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 1.06 and a beta of 0.91.

Gentex Announces Dividend

The company also recently announced 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 is Wednesday, January 8th. This represents a $0.48 annualized dividend and a yield of 1.61%. Gentex's payout ratio is 25.67%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GNTX. Guggenheim decreased their target price 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. UBS Group started coverage on shares of Gentex in a research note on Wednesday, September 4th. They issued a "neutral" rating and a $34.00 price objective for the company. Robert W. Baird boosted their target price on shares of Gentex from $35.00 to $37.00 and gave the stock an "outperform" rating in a research note on Monday, October 28th. The Goldman Sachs Group dropped their price target on Gentex from $33.00 to $31.00 and set a "neutral" rating for the company in a research note on Tuesday, October 1st. Finally, Bank of America reduced their price objective on Gentex from $39.00 to $35.00 and set a "neutral" rating on the stock in a research report on Monday, October 14th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Gentex currently has an average rating of "Hold" and an average target price of $35.13.

Gentex Company 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.