Country Trust Bank Sells 891,326 Shares of Gentex Co. (NASDAQ:GNTX)

Country Trust Bank lowered its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 98.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,541 shares of the auto parts company’s stock after selling 891,326 shares during the quarter. Country Trust Bank’s holdings in Gentex were worth $389,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. JPMorgan Chase & Co. raised its stake in shares of Gentex by 179.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company’s stock valued at $59,404,000 after purchasing an additional 1,285,519 shares during the period. Bridgewater Associates LP boosted its holdings in shares of Gentex by 249.1% in the 3rd quarter. Bridgewater Associates LP now owns 617,657 shares of the auto parts company’s stock valued at $18,338,000 after buying an additional 440,725 shares during the last quarter. Citigroup Inc. grew its position in shares of Gentex by 327.8% in the 3rd quarter. Citigroup Inc. now owns 483,842 shares of the auto parts company’s stock valued at $14,365,000 after acquiring an additional 370,746 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Gentex by 53.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 905,080 shares of the auto parts company’s stock worth $26,872,000 after purchasing an additional 315,164 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Gentex by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company’s stock valued at $159,406,000 after purchasing an additional 285,802 shares during the period. Institutional investors own 86.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GNTX shares. Robert W. Baird lifted their target price on Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Bank of America dropped their target price on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Finally, Guggenheim decreased their price target on shares of Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Gentex presently has an average rating of “Hold” and a consensus price target of $35.13.

Gentex Stock Up 1.4 %

Shares of NASDAQ GNTX opened at $28.22 on Friday. The firm has a market cap of $6.42 billion, a PE ratio of 15.09, a P/E/G ratio of 0.92 and a beta of 0.91. The company’s fifty day simple moving average is $29.03 and its 200 day simple moving average is $29.88. Gentex Co. has a 12-month low of $26.58 and a 12-month high of $37.58.

Gentex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Wednesday, January 8th. Gentex’s payout ratio is currently 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.