Los Angeles Capital Management LLC lowered its position in Gentex Corporation (NASDAQ:GNTX – Free Report) by 28.6% during the fourth quarter, Holdings Channel reports. The firm owned 1,124,792 shares of the auto parts company’s stock after selling 451,465 shares during the period. Los Angeles Capital Management LLC’s holdings in Gentex were worth $26,500,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP lifted its position in shares of Gentex by 10.3% in the 3rd quarter. Wellington Management Group LLP now owns 14,828,120 shares of the auto parts company’s stock worth $419,636,000 after purchasing an additional 1,383,203 shares during the period. State Street Corp lifted its position in shares of Gentex by 1.0% in the 2nd quarter. State Street Corp now owns 7,439,333 shares of the auto parts company’s stock worth $163,591,000 after purchasing an additional 74,779 shares during the period. American Century Companies Inc. lifted its position in shares of Gentex by 2.0% in the 3rd quarter. American Century Companies Inc. now owns 6,742,293 shares of the auto parts company’s stock worth $190,807,000 after purchasing an additional 131,035 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Gentex by 21.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,725,426 shares of the auto parts company’s stock worth $190,330,000 after purchasing an additional 1,206,060 shares during the period. Finally, Boston Partners lifted its position in shares of Gentex by 2.1% in the 3rd quarter. Boston Partners now owns 5,912,491 shares of the auto parts company’s stock worth $167,299,000 after purchasing an additional 123,731 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.
Gentex Price Performance
Gentex stock opened at $24.63 on Monday. Gentex Corporation has a 12-month low of $20.48 and a 12-month high of $29.38. The firm’s fifty day moving average is $22.94 and its 200 day moving average is $23.15. The company has a market capitalization of $5.24 billion, a PE ratio of 13.84 and a beta of 0.79.
Gentex Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, July 8th. This represents a $0.48 annualized dividend and a yield of 1.9%. Gentex’s dividend payout ratio is presently 26.97%.
Insiders Place Their Bets
In other Gentex news, Director Brian C. Walker sold 5,939 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. Following the transaction, the director owned 24,205 shares in the company, valued at approximately $556,230.90. This represents a 19.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard O. Schaum sold 4,815 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $23.31, for a total transaction of $112,237.65. Following the transaction, the director owned 81,443 shares in the company, valued at approximately $1,898,436.33. The trade was a 5.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 16,693 shares of company stock worth $385,194. Insiders own 0.55% of the company’s stock.
Analyst Upgrades and Downgrades
GNTX has been the topic of a number of research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Gentex in a research report on Tuesday, June 2nd. UBS Group set a $26.00 target price on shares of Gentex in a research report on Sunday, April 26th. JPMorgan Chase & Co. boosted their target price on shares of Gentex from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Freedom Capital upgraded shares of Gentex to a “strong-buy” rating in a research report on Friday, March 27th. Finally, Robert W. Baird boosted their target price on shares of Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Gentex has a consensus rating of “Hold” and a consensus price target of $26.83.
Get Our Latest Stock Report on GNTX
Gentex Company Profile
Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).
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