MetLife Investment Management LLC Reduces Holdings in Gentex Co. (NASDAQ:GNTX)

MetLife Investment Management LLC reduced its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 2.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 119,006 shares of the auto parts company’s stock after selling 2,733 shares during the period. MetLife Investment Management LLC’s holdings in Gentex were worth $3,533,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

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

Gentex Stock Down 1.9 %

Shares of GNTX stock opened at $30.11 on Wednesday. The stock has a market cap of $6.85 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 1.08 and a beta of 0.91. Gentex Co. has a fifty-two week low of $28.30 and a fifty-two week high of $37.58. The firm’s 50 day moving average price is $30.04 and its two-hundred day moving average price is $31.40.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $0.48 dividend on an annualized basis and a yield of 1.59%. Gentex’s dividend payout ratio (DPR) is 25.67%.

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.