Glenmede Trust Co. NA Lowers Stock Position in Gentex Co. (NASDAQ:GNTX)

Glenmede Trust Co. NA lessened its holdings in Gentex Co. (NASDAQ:GNTX) by 65.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 15,979 shares of the auto parts company’s stock after selling 30,348 shares during the quarter. Glenmede Trust Co. NA’s holdings in Gentex were worth $474,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GNTX. Quest Partners LLC purchased a new stake in shares of Gentex in the 2nd quarter worth approximately $31,000. Gladius Capital Management LP purchased a new stake in shares of Gentex during the second quarter valued at about $34,000. EverSource Wealth Advisors LLC lifted its position 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 valued at $42,000 after buying an additional 850 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position 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 valued at $54,000 after buying an additional 1,269 shares during the last quarter. Finally, HHM Wealth Advisors LLC purchased a new stake in shares of Gentex during the second quarter valued at about $67,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Trading Down 0.1 %

GNTX opened at $30.07 on Thursday. Gentex Co. has a 12-month low of $28.30 and a 12-month high of $37.58. The firm has a market capitalization of $6.84 billion, a PE ratio of 16.08, a P/E/G ratio of 1.08 and a beta of 0.91. The firm has a 50 day moving average of $30.04 and a two-hundred day moving average of $31.40.

Gentex Dividend Announcement

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. This represents a $0.48 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Wednesday, January 8th. Gentex’s dividend payout ratio is presently 25.67%.

Wall Street Analyst Weigh In

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