Zurcher Kantonalbank Zurich Cantonalbank Reduces Stock Holdings in Gentex Co. (NASDAQ:GNTX)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 0.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 51,839 shares of the auto parts company’s stock after selling 409 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Gentex were worth $1,539,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GNTX. Quest Partners LLC purchased a new position in Gentex during the 2nd quarter worth $31,000. Gladius Capital Management LP acquired a new stake in Gentex during the 2nd quarter worth about $34,000. EverSource Wealth Advisors LLC lifted its position in Gentex by 173.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock worth $42,000 after acquiring an additional 850 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its position in Gentex by 227.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock worth $54,000 after acquiring an additional 1,269 shares during the period. Finally, HHM Wealth Advisors LLC acquired a new stake in Gentex during the 2nd quarter worth about $67,000. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Gentex Trading Down 0.1 %

NASDAQ:GNTX opened at $30.07 on Thursday. The stock has a 50 day moving average of $30.04 and a two-hundred day moving average of $31.40. The firm has a market cap of $6.84 billion, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 1.08 and a beta of 0.91. Gentex Co. has a 12 month low of $28.30 and a 12 month high of $37.58.

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th will be given a $0.12 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.60%. Gentex’s dividend payout ratio (DPR) is presently 25.67%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GNTX. Robert W. Baird lifted their price target on Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. UBS Group began coverage on Gentex in a research report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price target for the company. Bank of America lowered their price target on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. The Goldman Sachs Group decreased their price objective on Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Finally, Guggenheim decreased their price objective on Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $35.13.

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.