Stifel Financial Corp Sells 27,863 Shares of Gentex Co. (NASDAQ:GNTX)

Stifel Financial Corp reduced its holdings in Gentex Co. (NASDAQ:GNTX - Free Report) by 21.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,916 shares of the auto parts company's stock after selling 27,863 shares during the quarter. Stifel Financial Corp's holdings in Gentex were worth $2,997,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Systematic Financial Management LP boosted its position in shares of Gentex by 40.6% during the third quarter. Systematic Financial Management LP now owns 307,051 shares of the auto parts company's stock worth $9,116,000 after buying an additional 88,736 shares during the period. Quantinno Capital Management LP lifted its stake in Gentex by 17.8% in the 3rd quarter. Quantinno Capital Management LP now owns 20,028 shares of the auto parts company's stock valued at $595,000 after acquiring an additional 3,026 shares in the last quarter. Readystate Asset Management LP acquired a new position in Gentex during the 3rd quarter worth approximately $871,000. Motley Fool Asset Management LLC grew its stake in shares of Gentex by 0.7% during the 3rd quarter. Motley Fool Asset Management LLC now owns 287,121 shares of the auto parts company's stock worth $8,461,000 after acquiring an additional 1,917 shares in the last quarter. Finally, Invenomic Capital Management LP acquired a new stake in shares of Gentex in the third quarter valued at approximately $4,358,000. Institutional investors and hedge funds own 86.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. UBS Group began coverage on Gentex in a research report on Wednesday, September 4th. They issued a "neutral" rating and a $34.00 target price on the stock. Robert W. Baird lifted their price objective on shares of Gentex from $35.00 to $37.00 and gave the company an "outperform" rating in a research report on Monday, October 28th. The Goldman Sachs Group dropped their target price on shares of Gentex from $33.00 to $31.00 and set a "neutral" rating on the stock in a report on Tuesday, October 1st. Guggenheim dropped their price objective on Gentex from $35.00 to $34.00 and set a "buy" rating on the stock in a research note on Thursday, November 21st. Finally, Bank of America decreased their target price on Gentex from $39.00 to $35.00 and set a "neutral" rating on the stock in a report on Monday, October 14th. 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.com, the company has an average rating of "Hold" and a consensus price target of $35.13.

Gentex Price Performance

GNTX traded down $0.63 during trading on Wednesday, hitting $29.31. The stock had a trading volume of 1,660,861 shares, compared to its average volume of 1,440,443. The company has a 50 day moving average price of $30.19 and a 200-day moving average price of $31.11. Gentex Co. has a one year low of $28.30 and a one year high of $37.58. The firm has a market cap of $6.67 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 1.09 and a beta of 0.91.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.64%. Gentex's payout ratio is presently 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.