Gentex Co. (NASDAQ:GNTX) Position Lessened by Empire Life Investments Inc.

Empire Life Investments Inc. reduced its stake in shares of Gentex Co. (NASDAQ:GNTX) by 1.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 378,102 shares of the auto parts company’s stock after selling 4,382 shares during the period. Empire Life Investments Inc.’s holdings in Gentex were worth $11,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in GNTX. Harbor Capital Advisors Inc. boosted its holdings in shares of Gentex by 104.9% during the third quarter. Harbor Capital Advisors Inc. now owns 81,506 shares of the auto parts company’s stock valued at $2,420,000 after acquiring an additional 41,732 shares during the period. Janney Montgomery Scott LLC boosted its stake in Gentex by 4.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 1,330,830 shares of the auto parts company’s stock valued at $39,512,000 after purchasing an additional 59,784 shares during the period. Invesco LLC grew its position in Gentex by 2.2% in the 3rd quarter. Invesco LLC now owns 31,622 shares of the auto parts company’s stock worth $939,000 after purchasing an additional 679 shares during the last quarter. Lincluden Management Ltd. increased its stake in shares of Gentex by 41.7% in the third quarter. Lincluden Management Ltd. now owns 139,671 shares of the auto parts company’s stock valued at $4,147,000 after purchasing an additional 41,095 shares during the period. Finally, Rice Hall James & Associates LLC acquired a new stake in shares of Gentex in the third quarter valued at approximately $8,470,000. 86.76% of the stock is owned by institutional investors and hedge funds.

Gentex Stock Performance

NASDAQ GNTX opened at $30.53 on Friday. The stock has a market capitalization of $7.03 billion, a P/E ratio of 16.33, a P/E/G ratio of 0.98 and a beta of 0.91. The business’s fifty day moving average is $29.97 and its two-hundred day moving average is $32.07. Gentex Co. has a 1 year low of $28.30 and a 1 year high of $37.58.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.57%. Gentex’s dividend payout ratio (DPR) is 25.67%.

Insiders Place Their Bets

In other Gentex news, major shareholder Corp Gentex bought 3,152,500 shares of Gentex stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the completion of the acquisition, the insider now directly owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

GNTX has been the subject of a number of recent analyst reports. BNP Paribas lowered Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective for the company. in a report on Tuesday, July 30th. Bank of America decreased their price target on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. B. Riley cut their price objective on shares of Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. JPMorgan Chase & Co. reduced their price objective on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Finally, The Goldman Sachs Group lowered their target price 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 investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $36.00.

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, 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.