Glenmede Trust Co. NA Sells 30,348 Shares of Gentex Co. (NASDAQ:GNTX)

Glenmede Trust Co. NA lessened its stake in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 65.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,979 shares of the auto parts company's stock after selling 30,348 shares during the period. Glenmede Trust Co. NA's holdings in Gentex were worth $474,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Phoenix Wealth Advisors grew its holdings in shares of Gentex by 3.1% during the second quarter. Phoenix Wealth Advisors now owns 10,196 shares of the auto parts company's stock valued at $344,000 after buying an additional 306 shares in the last quarter. Lindenwold Advisors INC grew its stake in Gentex by 2.8% during the 3rd quarter. Lindenwold Advisors INC now owns 12,539 shares of the auto parts company's stock valued at $372,000 after acquiring an additional 347 shares in the last quarter. United Services Automobile Association increased its holdings in shares of Gentex by 2.5% in the 2nd quarter. United Services Automobile Association now owns 17,447 shares of the auto parts company's stock valued at $588,000 after purchasing an additional 427 shares during the period. Harfst & Associates Inc. lifted its position in shares of Gentex by 0.7% in the second quarter. Harfst & Associates Inc. now owns 66,692 shares of the auto parts company's stock worth $2,248,000 after purchasing an additional 450 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Gentex by 4.0% during the second quarter. Blue Trust Inc. now owns 12,434 shares of the auto parts company's stock worth $449,000 after purchasing an additional 475 shares during the period. Institutional investors and hedge funds own 86.76% of the company's stock.

Gentex Price Performance

GNTX traded down $0.32 on Thursday, hitting $29.75. The company had a trading volume of 990,081 shares, compared to its average volume of 1,442,960. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 1.06 and a beta of 0.91. The company's fifty day moving average price is $30.01 and its 200 day moving average price is $31.38. Gentex Co. has a 1-year low of $28.30 and a 1-year high of $37.58.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Wednesday, January 8th. Gentex's payout ratio is 25.67%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GNTX shares. The Goldman Sachs Group dropped their price objective on shares of Gentex from $33.00 to $31.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 1st. Guggenheim reduced their price objective on Gentex from $35.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday, November 21st. UBS Group initiated coverage on Gentex in a research note on Wednesday, September 4th. They issued a "neutral" rating and a $34.00 target price on the stock. Bank of America cut their price target on Gentex from $39.00 to $35.00 and set a "neutral" rating for the company in a research note on Monday, October 14th. Finally, Robert W. Baird boosted their price target on Gentex from $35.00 to $37.00 and gave the company an "outperform" rating in a research note on Monday, October 28th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target 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.