Eagle Asset Management Inc. Decreases Stock Position in Gentex Co. (NASDAQ:GNTX)

Eagle Asset Management Inc. decreased its position in shares of Gentex Co. (NASDAQ:GNTX) by 13.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GNTX. Phoenix Wealth Advisors increased its position in shares of Gentex by 3.1% during the second quarter. Phoenix Wealth Advisors now owns 10,196 shares of the auto parts company’s stock worth $344,000 after acquiring an additional 306 shares during the last quarter. Lindenwold Advisors INC increased its holdings in Gentex by 2.8% during the 3rd quarter. Lindenwold Advisors INC now owns 12,539 shares of the auto parts company’s stock worth $372,000 after purchasing an additional 347 shares during the last quarter. Toronto Dominion Bank raised its position in shares of Gentex by 0.9% in the 1st quarter. Toronto Dominion Bank now owns 42,346 shares of the auto parts company’s stock valued at $1,530,000 after purchasing an additional 370 shares in the last quarter. United Services Automobile Association boosted its stake in shares of Gentex by 2.5% during the 2nd quarter. United Services Automobile Association now owns 17,447 shares of the auto parts company’s stock valued at $588,000 after buying an additional 427 shares during the last quarter. Finally, Harfst & Associates Inc. boosted its stake in shares of Gentex by 0.7% during the 2nd quarter. Harfst & Associates Inc. now owns 66,692 shares of the auto parts company’s stock valued at $2,248,000 after buying an additional 450 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GNTX shares. Bank of America dropped their price target on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. 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 decreased their price target on Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st. B. Riley lowered their price objective on Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a report on Monday, July 29th. Finally, UBS Group initiated coverage on Gentex in a report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 target price on the stock. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Gentex has an average rating of “Hold” and a consensus price target of $35.13.

Gentex Stock Up 2.2 %

Shares of NASDAQ GNTX opened at $31.08 on Tuesday. The firm’s 50-day moving average price is $29.96 and its two-hundred day moving average price is $31.58. Gentex Co. has a 52-week low of $28.30 and a 52-week high of $37.58. The stock has a market capitalization of $7.07 billion, a P/E ratio of 16.62, a P/E/G ratio of 1.07 and a beta of 0.91.

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 issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Wednesday, October 9th. Gentex’s dividend payout ratio (DPR) is 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.