Gentex Co. (NASDAQ:GNTX) Shares Sold by Royce & Associates LP

Royce & Associates LP decreased its position in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 10.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 335,200 shares of the auto parts company's stock after selling 39,731 shares during the period. Royce & Associates LP owned approximately 0.15% of Gentex worth $9,952,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Quest Partners LLC purchased a new position in Gentex during the 2nd quarter valued at approximately $31,000. Gladius Capital Management LP bought a new stake in Gentex in the second quarter worth $34,000. EverSource Wealth Advisors LLC raised its stake in Gentex by 173.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company's stock valued at $42,000 after purchasing an additional 850 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in Gentex by 227.8% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company's stock valued at $54,000 after purchasing an additional 1,269 shares in the last quarter. Finally, HHM Wealth Advisors LLC bought a new position in Gentex during the second quarter valued at $67,000. 86.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, major shareholder Corp Gentex bought 3,152,500 shares of the stock in a transaction 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 completion of the purchase, the insider now directly owns 6,463,808 shares in the company, valued at approximately $32,319,040. The trade was a 95.20 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.41% of the stock is currently owned by insiders.

Gentex Stock Performance

GNTX traded down $0.23 during trading on Friday, hitting $30.15. 1,256,520 shares of the stock were exchanged, compared to its average volume of 1,621,904. The firm has a 50 day simple moving average of $29.87 and a 200 day simple moving average of $31.79. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 0.97 and a beta of 0.91. Gentex Co. has a 1 year low of $28.30 and a 1 year high of $37.58.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.59%. Gentex's dividend payout ratio is currently 25.67%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Bank of America reduced their target price on shares of Gentex from $39.00 to $35.00 and set a "neutral" rating on the stock in a report on Monday, October 14th. B. Riley decreased their price objective on Gentex from $44.00 to $41.00 and set a "buy" rating on the stock in a research report on Monday, July 29th. JPMorgan Chase & Co. dropped their target price on Gentex from $36.00 to $35.00 and set a "neutral" rating for the company in a report on Monday, July 22nd. Robert W. Baird boosted their target price on Gentex from $35.00 to $37.00 and gave the company an "outperform" rating in a research report on Monday, October 28th. Finally, BNP Paribas lowered shares of Gentex from an "outperform" rating to a "neutral" rating and set a $34.00 price objective for the company. in a research note on Tuesday, July 30th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $36.00.

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.