Wedge Capital Management L L P NC Trims Stock Position in Gentex Co. (NASDAQ:GNTX)

Wedge Capital Management L L P NC cut its stake in Gentex Co. (NASDAQ:GNTXFree Report) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 384,451 shares of the auto parts company’s stock after selling 9,574 shares during the period. Wedge Capital Management L L P NC owned about 0.17% of Gentex worth $11,045,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in Gentex by 173.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock valued at $42,000 after acquiring an additional 850 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in Gentex by 227.8% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock valued at $54,000 after purchasing an additional 1,269 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Gentex in the third quarter valued at $125,000. GAMMA Investing LLC increased its stake in Gentex by 159.1% in the fourth quarter. GAMMA Investing LLC now owns 5,133 shares of the auto parts company’s stock valued at $147,000 after purchasing an additional 3,152 shares during the period. Finally, KBC Group NV increased its stake in Gentex by 13.3% in the third quarter. KBC Group NV now owns 5,664 shares of the auto parts company’s stock valued at $168,000 after purchasing an additional 667 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Bank of America dropped their price objective on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Guggenheim dropped their price objective 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. Robert W. Baird lifted their price objective on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Finally, The Goldman Sachs Group dropped their price objective on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $35.13.

Get Our Latest Report on GNTX

Gentex Stock Up 1.7 %

Shares of Gentex stock opened at $27.97 on Friday. Gentex Co. has a 52-week low of $26.58 and a 52-week high of $37.58. The company’s 50-day simple moving average is $29.37 and its 200-day simple moving average is $30.21. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 0.83 and a beta of 0.91.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Wednesday, January 8th. Gentex’s dividend payout ratio is currently 25.67%.

About Gentex

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Gentex (NASDAQ:GNTX)

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