Leeward Investments LLC MA Trims Stake in Gentex Co. (NASDAQ:GNTX)

Leeward Investments LLC MA cut its stake in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 8.8% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 723,148 shares of the auto parts company's stock after selling 69,639 shares during the period. Gentex makes up approximately 1.0% of Leeward Investments LLC MA's holdings, making the stock its 28th largest holding. Leeward Investments LLC MA owned about 0.31% of Gentex worth $21,470,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GNTX. Boston Partners boosted its holdings in shares of Gentex by 4.2% in the first quarter. Boston Partners now owns 5,706,411 shares of the auto parts company's stock valued at $206,095,000 after acquiring an additional 230,873 shares in the last quarter. TD Asset Management Inc lifted its position in Gentex by 41.2% in the 1st quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company's stock worth $168,957,000 after buying an additional 1,363,898 shares in the last quarter. Burgundy Asset Management Ltd. lifted its position in Gentex by 3.0% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,343,880 shares of the auto parts company's stock worth $146,432,000 after buying an additional 126,416 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its position in Gentex by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 4,259,831 shares of the auto parts company's stock worth $143,599,000 after buying an additional 43,457 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Gentex by 14.0% during 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 purchasing an additional 489,689 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company's stock.

Gentex Price Performance

GNTX stock traded down $0.08 during mid-day trading on Thursday, reaching $30.60. 1,887,409 shares of the company traded hands, compared to its average volume of 1,466,839. The company has a market capitalization of $6.96 billion, a P/E ratio of 16.36, a P/E/G ratio of 0.98 and a beta of 0.91. Gentex Co. has a 52-week low of $28.30 and a 52-week high of $37.58. The company has a fifty day moving average price of $29.93 and a 200-day moving average price of $32.00.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Wednesday, October 9th. Gentex's dividend payout ratio is currently 25.67%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GNTX shares. BNP Paribas lowered shares of Gentex from an "outperform" rating to a "neutral" rating and set a $34.00 target price on the stock. in a research note on Tuesday, July 30th. The Goldman Sachs Group cut their price target on shares of Gentex from $33.00 to $31.00 and set a "neutral" rating for the company in a report on Tuesday, October 1st. Robert W. Baird lifted their price target on shares of Gentex from $35.00 to $37.00 and gave the stock an "outperform" rating in a research report on Monday, October 28th. Bank of America cut their price target on shares of Gentex from $39.00 to $35.00 and set a "neutral" rating on the stock in a research note on Monday, October 14th. Finally, UBS Group assumed coverage on shares of Gentex in a research report on Wednesday, September 4th. They issued a "neutral" rating and a $34.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $36.00.

Insiders Place Their Bets

In related news, major shareholder Corp Gentex acquired 3,152,500 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average cost of $5.00 per share, for a total transaction of $15,762,500.00. Following the purchase, the insider now owns 6,463,808 shares in the company, valued at $32,319,040. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.41% of the company's stock.

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.