Gentex Co. (NASDAQ:GNTX) Shares Sold by Norris Perne & French LLP MI

Norris Perne & French LLP MI cut its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 6.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,710 shares of the auto parts company’s stock after selling 1,324 shares during the quarter. Norris Perne & French LLP MI’s holdings in Gentex were worth $566,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Synergy Asset Management LLC acquired a new position in Gentex during the 4th quarter worth $34,000. Hunter Perkins Capital Management LLC grew its position in shares of Gentex by 0.8% during the fourth quarter. Hunter Perkins Capital Management LLC now owns 117,580 shares of the auto parts company’s stock worth $3,378,000 after buying an additional 990 shares in the last quarter. KBC Group NV increased its stake in shares of Gentex by 1,751.2% during the fourth quarter. KBC Group NV now owns 104,854 shares of the auto parts company’s stock worth $3,012,000 after buying an additional 99,190 shares during the period. Blue Trust Inc. raised its holdings in Gentex by 8.1% in the fourth quarter. Blue Trust Inc. now owns 14,384 shares of the auto parts company’s stock valued at $427,000 after acquiring an additional 1,075 shares in the last quarter. Finally, First Citizens Bank & Trust Co. lifted its stake in Gentex by 5.9% in the fourth quarter. First Citizens Bank & Trust Co. now owns 19,388 shares of the auto parts company’s stock worth $557,000 after acquiring an additional 1,081 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Stock Performance

GNTX opened at $28.22 on Friday. The stock has a market capitalization of $6.42 billion, a P/E ratio of 15.09, a price-to-earnings-growth ratio of 0.92 and a beta of 0.91. Gentex Co. has a one year low of $26.58 and a one year high of $37.58. The business’s 50-day simple moving average is $29.06 and its 200-day simple moving average is $29.89.

Gentex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Wednesday, January 8th. Gentex’s dividend payout ratio is currently 25.67%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. 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 report on Monday, October 14th. Finally, Guggenheim lowered their price objective on Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Gentex currently has a consensus rating of “Hold” and an average target price 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.