Valley National Advisers Inc. Has $887,000 Stock Position in Gentex Co. (NASDAQ:GNTX)

Valley National Advisers Inc. lessened its holdings in Gentex Co. (NASDAQ:GNTX) by 9.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,351 shares of the auto parts company’s stock after selling 2,907 shares during the period. Valley National Advisers Inc.’s holdings in Gentex were worth $887,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in shares of Gentex by 129.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 111,827 shares of the auto parts company’s stock valued at $3,652,000 after purchasing an additional 63,152 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Gentex by 58.1% in the 4th quarter. TD Asset Management Inc now owns 3,313,757 shares of the auto parts company’s stock worth $108,227,000 after acquiring an additional 1,217,278 shares in the last quarter. Thematics Asset Management raised its holdings in shares of Gentex by 51.2% in the fourth quarter. Thematics Asset Management now owns 523,207 shares of the auto parts company’s stock valued at $17,088,000 after purchasing an additional 177,207 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Gentex by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 22,280,716 shares of the auto parts company’s stock worth $727,688,000 after purchasing an additional 163,373 shares during the last quarter. Finally, Cetera Investment Advisers grew its position in Gentex by 91.0% in the 1st quarter. Cetera Investment Advisers now owns 127,876 shares of the auto parts company’s stock worth $4,619,000 after purchasing an additional 60,934 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on GNTX shares. StockNews.com cut shares of Gentex from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. 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 lowered their price target on shares of Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Monday, July 29th. JPMorgan Chase & Co. reduced their price objective on Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Finally, Robert W. Baird dropped their price target on Gentex from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $37.33.

Gentex Price Performance

Shares of NASDAQ:GNTX traded up $0.12 during trading on Friday, hitting $29.64. 1,237,912 shares of the company were exchanged, compared to its average volume of 1,412,001. Gentex Co. has a 52-week low of $27.86 and a 52-week high of $37.58. The stock has a 50 day moving average of $32.50 and a 200 day moving average of $34.22. The company has a market cap of $6.85 billion, a PE ratio of 15.68, a P/E/G ratio of 0.91 and a beta of 0.93.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 17th. Investors of record on Friday, July 5th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, July 5th. This represents a $0.48 dividend on an annualized basis and a yield of 1.62%. Gentex’s dividend payout ratio (DPR) is 25.40%.

Insiders Place Their Bets

In related news, Director Joseph B. Anderson, Jr. sold 4,716 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $34.46, for a total transaction of $162,513.36. Following the sale, the director now owns 3,764 shares of the company’s stock, valued at approximately $129,707.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.41% of the stock is owned by corporate insiders.

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.