Gentex Co. (NASDAQ:GNTX) Shares Sold by Legacy Trust

Legacy Trust lessened its position in Gentex Co. (NASDAQ:GNTX) by 19.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 83,583 shares of the auto parts company’s stock after selling 19,629 shares during the quarter. Legacy Trust’s holdings in Gentex were worth $2,401,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. EdgePoint Investment Group Inc. boosted its stake in shares of Gentex by 1.5% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 7,699,919 shares of the auto parts company’s stock valued at $228,611,000 after buying an additional 111,500 shares during the period. Geode Capital Management LLC grew its stake in shares of Gentex by 5.6% during the third quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company’s stock worth $159,406,000 after purchasing an additional 285,802 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in Gentex by 5.5% in the third quarter. Disciplined Growth Investors Inc. MN now owns 4,493,914 shares of the auto parts company’s stock valued at $133,424,000 after buying an additional 234,083 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Gentex by 179.7% in the third quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company’s stock valued at $59,404,000 after buying an additional 1,285,519 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Gentex by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,554,823 shares of the auto parts company’s stock valued at $46,163,000 after buying an additional 6,106 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Stock Performance

Shares of Gentex stock opened at $27.83 on Thursday. Gentex Co. has a one year low of $26.58 and a one year high of $37.58. The company has a market cap of $6.33 billion, a P/E ratio of 14.88, a PEG ratio of 0.87 and a beta of 0.91. The firm has a fifty day moving average of $29.09 and a two-hundred day moving average of $29.90.

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 paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, January 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.72%. Gentex’s dividend payout ratio (DPR) is presently 25.67%.

Wall Street Analysts Forecast Growth

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

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.