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

Thematics Asset Management reduced its stake in shares of Gentex Co. (NASDAQ:GNTX) by 6.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 510,000 shares of the auto parts company’s stock after selling 37,000 shares during the quarter. Thematics Asset Management owned about 0.22% of Gentex worth $15,142,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Phoenix Wealth Advisors grew its stake in Gentex by 3.1% during the 2nd quarter. Phoenix Wealth Advisors now owns 10,196 shares of the auto parts company’s stock worth $344,000 after buying an additional 306 shares during the last quarter. Lindenwold Advisors INC boosted its stake 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 period. Toronto Dominion Bank grew its position in Gentex by 0.9% during the 1st quarter. Toronto Dominion Bank now owns 42,346 shares of the auto parts company’s stock worth $1,530,000 after purchasing an additional 370 shares during the last quarter. United Services Automobile Association increased its stake in Gentex by 2.5% in the second quarter. United Services Automobile Association now owns 17,447 shares of the auto parts company’s stock valued at $588,000 after purchasing an additional 427 shares during the period. Finally, Harfst & Associates Inc. raised its holdings in shares of Gentex by 0.7% in the second 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. 86.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GNTX shares. 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 report on Monday, October 14th. BNP Paribas downgraded Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target for the company. in a report on Tuesday, July 30th. UBS Group began coverage on shares of Gentex in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price objective on the stock. The Goldman Sachs Group reduced their price objective on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. Finally, Robert W. Baird boosted their target price on Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Gentex has an average rating of “Hold” and an average price target of $35.13.

Gentex Price Performance

Gentex stock traded down $0.28 during trading hours on Tuesday, hitting $30.80. The stock had a trading volume of 95,963 shares, compared to its average volume of 1,447,633. Gentex Co. has a 1-year low of $28.30 and a 1-year high of $37.58. The stock’s fifty day moving average is $29.96 and its two-hundred day moving average is $31.58. The stock has a market capitalization of $7.00 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 1.07 and a beta of 0.91.

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.56%. Gentex’s dividend payout ratio (DPR) 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.