Eagle Asset Management Inc. lessened its holdings in shares of Gentex Co. (NASDAQ:GNTX – Get Rating) by 13.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,166 shares of the auto parts company’s stock after selling 9,585 shares during the quarter. Eagle Asset Management Inc.’s holdings in Gentex were worth $1,784,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Gentex by 9.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,900 shares of the auto parts company’s stock worth $901,000 after buying an additional 2,652 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. grew its position in shares of Gentex by 54.7% in the first quarter. Leith Wheeler Investment Counsel Ltd. now owns 246,980 shares of the auto parts company’s stock valued at $7,204,000 after purchasing an additional 87,280 shares during the last quarter. State Street Corp grew its position in shares of Gentex by 1.0% in the fourth quarter. State Street Corp now owns 6,314,445 shares of the auto parts company’s stock valued at $220,058,000 after purchasing an additional 65,579 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Gentex by 246.8% in the first quarter. SG Americas Securities LLC now owns 71,485 shares of the auto parts company’s stock valued at $2,085,000 after purchasing an additional 50,874 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its position in shares of Gentex by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 61,900 shares of the auto parts company’s stock valued at $1,780,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 86.54% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently commented on GNTX shares. TheStreet downgraded Gentex from a “b-” rating to a “c” rating in a research report on Friday, July 22nd. Seaport Res Ptn reiterated a “buy” rating on shares of Gentex in a research note on Sunday, July 31st. StockNews.com cut Gentex from a “buy” rating to a “hold” rating in a research note on Saturday, August 6th. Guggenheim cut their price target on Gentex to $33.00 in a research note on Monday, July 25th. Finally, The Goldman Sachs Group cut their price target on Gentex from $26.00 to $25.00 in a research note on Wednesday, June 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.75.
Gentex Price Performance
Gentex Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Friday, October 7th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Thursday, October 6th. Gentex’s payout ratio is 35.56%.
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, 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.
- Get a free copy of the StockNews.com research report on Gentex (GNTX)
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