Gentex Co. (NASDAQ:GNTX) Shares Sold by Eagle Asset Management Inc.

Eagle Asset Management Inc. trimmed its position in shares of Gentex Co. (NASDAQ:GNTX) by 13.6% in the third quarter, HoldingsChannel reports. The firm owned 56,685 shares of the auto parts company’s stock after selling 8,930 shares during the period. Eagle Asset Management Inc.’s holdings in Gentex were worth $1,710,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Scharf Investments LLC boosted its position in shares of Gentex by 36,001.4% during the second quarter. Scharf Investments LLC now owns 2,278,357 shares of the auto parts company’s stock worth $76,803,000 after buying an additional 2,272,046 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Gentex by 14.0% in the second 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 in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Gentex by 344.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 589,916 shares of the auto parts company’s stock worth $19,886,000 after purchasing an additional 457,054 shares in the last quarter. Rice Hall James & Associates LLC acquired a new position in shares of Gentex during the third quarter valued at $8,470,000. Finally, Jupiter Asset Management Ltd. acquired a new stake in Gentex in the second quarter worth about $9,603,000. Institutional investors own 86.76% of the company’s stock.

Gentex Stock Up 2.2 %

GNTX opened at $31.08 on Tuesday. The business has a fifty day simple moving average of $29.96 and a 200-day simple moving average of $31.58. The firm has a market cap of $7.07 billion, a PE ratio of 16.62, a P/E/G ratio of 1.07 and a beta of 0.91. Gentex Co. has a fifty-two week low of $28.30 and a fifty-two week high of $37.58.

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 paid a $0.12 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a yield of 1.54%. Gentex’s dividend payout ratio is currently 25.67%.

Analyst Upgrades and Downgrades

Several research firms have commented on GNTX. BNP Paribas cut 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. B. Riley dropped their target price on Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Monday, July 29th. UBS Group started coverage on Gentex in a research note on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price target for the company. 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, The Goldman Sachs Group decreased their target price on Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Gentex has a consensus rating of “Hold” and an average target price of $35.13.

Gentex 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.