HighTower Advisors LLC Sells 7,507 Shares of Gentex Co. (NASDAQ:GNTX)

HighTower Advisors LLC lowered its stake in shares of Gentex Co. (NASDAQ:GNTX) by 7.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 94,053 shares of the auto parts company’s stock after selling 7,507 shares during the period. HighTower Advisors LLC’s holdings in Gentex were worth $2,797,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GNTX. QRG Capital Management Inc. acquired a new position in Gentex during the 2nd quarter valued at about $205,000. SG Americas Securities LLC boosted its stake in shares of Gentex by 15.9% in the 2nd quarter. SG Americas Securities LLC now owns 10,124 shares of the auto parts company’s stock worth $341,000 after buying an additional 1,387 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Gentex by 31.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 35,286 shares of the auto parts company’s stock worth $1,189,000 after buying an additional 8,536 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Gentex by 50.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 9,485 shares of the auto parts company’s stock worth $320,000 after buying an additional 3,187 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Gentex by 8.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 60,871 shares of the auto parts company’s stock worth $2,052,000 after purchasing an additional 4,492 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Stock Performance

Shares of NASDAQ:GNTX opened at $30.58 on Friday. Gentex Co. has a 52-week low of $28.30 and a 52-week high of $37.58. The firm has a fifty day moving average of $30.07 and a 200 day moving average of $31.26. The firm has a market capitalization of $6.95 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 1.05 and a beta of 0.91.

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. The ex-dividend date is Wednesday, January 8th. This represents a $0.48 annualized dividend and a yield of 1.57%. Gentex’s payout ratio is 25.67%.

Analysts Set New Price Targets

A number of research firms recently commented on GNTX. Robert W. Baird lifted 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. The Goldman Sachs Group lowered their price target 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. UBS Group began coverage on shares of Gentex in a report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 target price on the stock. Bank of America lowered their target price on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Finally, Guggenheim lowered their target price on shares of Gentex from $35.00 to $34.00 and set a “buy” rating on the stock 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. According to data from MarketBeat, the company presently has an average 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.