Fmr LLC Sells 32,125 Shares of Gentex Co. (NASDAQ:GNTX)

FMR LLC lessened its holdings in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 37.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 53,311 shares of the auto parts company's stock after selling 32,125 shares during the quarter. FMR LLC's holdings in Gentex were worth $1,583,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Burgundy Asset Management Ltd. increased its stake in shares of Gentex by 3.0% during the second quarter. Burgundy Asset Management Ltd. now owns 4,343,880 shares of the auto parts company's stock valued at $146,432,000 after acquiring an additional 126,416 shares during the period. Disciplined Growth Investors Inc. MN increased its position in shares of Gentex by 1.0% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 4,259,831 shares of the auto parts company's stock valued at $143,599,000 after purchasing an additional 43,457 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Gentex by 14.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,989,248 shares of the auto parts company's stock worth $134,475,000 after buying an additional 489,689 shares in the last quarter. Epoch Investment Partners Inc. lifted its holdings in shares of Gentex by 8.7% in the second quarter. Epoch Investment Partners Inc. now owns 3,222,359 shares of the auto parts company's stock valued at $108,626,000 after buying an additional 259,109 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Gentex by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 2,672,123 shares of the auto parts company's stock valued at $90,077,000 after buying an additional 72,599 shares in the last quarter. Institutional investors own 86.76% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Bank of America dropped their price target on shares of Gentex from $39.00 to $35.00 and set a "neutral" rating on the stock in a research report on Monday, October 14th. UBS Group initiated coverage on shares of 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 decreased their price target on shares of Gentex from $33.00 to $31.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 1st. Robert W. Baird increased their price objective on Gentex from $35.00 to $37.00 and gave the company an "outperform" rating in a research report on Monday, October 28th. Finally, Guggenheim decreased their target price on Gentex from $35.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, November 21st. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $35.13.

Gentex Trading Down 0.8 %

NASDAQ:GNTX traded down $0.26 on Monday, hitting $30.33. 1,476,823 shares of the company's stock traded hands, compared to its average volume of 1,441,232. The company has a market cap of $6.90 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 1.09 and a beta of 0.91. Gentex Co. has a 1 year low of $28.30 and a 1 year high of $37.58. The firm has a 50-day moving average price of $30.13 and a 200-day moving average price of $31.19.

Gentex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, January 8th. This represents a $0.48 annualized dividend and a dividend yield of 1.58%. Gentex's dividend payout ratio is 25.67%.

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.