Sigma Planning Corp Has $301,000 Stake in Gentex Co. (NASDAQ:GNTX)

Sigma Planning Corp lowered its stake in shares of Gentex Co. (NASDAQ:GNTX) by 48.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 10,136 shares of the auto parts company’s stock after selling 9,679 shares during the period. Sigma Planning Corp’s holdings in Gentex were worth $301,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GNTX shares. B. Riley reduced their price objective on shares of Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a report on Monday, July 29th. UBS Group began coverage on shares of Gentex in a research note on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price target for the company. BNP Paribas lowered Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research note on Tuesday, July 30th. JPMorgan Chase & Co. cut their target price on Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Finally, Bank of America lowered their price target on Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $36.00.

Insider Buying and Selling

In related news, major shareholder Corp Gentex acquired 3,152,500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the transaction, the insider now directly owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. This trade represents a 95.20 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.41% of the stock is owned by corporate insiders.

Gentex Price Performance

GNTX stock opened at $30.15 on Friday. The business has a fifty day moving average price of $29.87 and a 200 day moving average price of $31.81. Gentex Co. has a fifty-two week low of $28.30 and a fifty-two week high of $37.58. The stock has a market capitalization of $6.86 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 0.98 and a beta of 0.91.

Gentex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors 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 dividend on an annualized basis and a dividend yield of 1.59%. Gentex’s dividend payout ratio is 25.67%.

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.