Stifel Financial Corp Sells 27,863 Shares of Gentex Co. (NASDAQ:GNTX)

Stifel Financial Corp decreased its position in shares of Gentex Co. (NASDAQ:GNTX) by 21.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,916 shares of the auto parts company’s stock after selling 27,863 shares during the period. Stifel Financial Corp’s holdings in Gentex were worth $2,997,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GNTX. Lindenwold Advisors INC increased its position in Gentex by 2.8% during the third quarter. Lindenwold Advisors INC now owns 12,539 shares of the auto parts company’s stock worth $372,000 after acquiring an additional 347 shares during the period. United Services Automobile Association raised its position in shares of Gentex by 2.5% in the second quarter. United Services Automobile Association now owns 17,447 shares of the auto parts company’s stock valued at $588,000 after buying an additional 427 shares in the last quarter. Harfst & Associates Inc. boosted its stake in shares of Gentex by 0.7% in the second quarter. Harfst & Associates Inc. now owns 66,692 shares of the auto parts company’s stock valued at $2,248,000 after buying an additional 450 shares during the period. Intellectus Partners LLC grew its position in Gentex by 6.1% during the third quarter. Intellectus Partners LLC now owns 8,452 shares of the auto parts company’s stock worth $251,000 after buying an additional 484 shares in the last quarter. Finally, JLB & Associates Inc. increased its stake in Gentex by 2.1% during the 3rd quarter. JLB & Associates Inc. now owns 24,031 shares of the auto parts company’s stock worth $713,000 after acquiring an additional 490 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Stock Down 1.3 %

NASDAQ GNTX opened at $29.94 on Wednesday. The company has a market cap of $6.81 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 1.09 and a beta of 0.91. Gentex Co. has a twelve month low of $28.30 and a twelve month high of $37.58. The business’s fifty day moving average is $30.19 and its 200 day moving average is $31.12.

Gentex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Wednesday, January 8th. Gentex’s dividend payout ratio (DPR) is currently 25.67%.

Analyst Ratings Changes

Several research firms have recently issued reports on GNTX. The Goldman Sachs Group reduced their target price on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. 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 on the stock. Bank of America cut their price target 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 lifted their price objective on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Finally, Guggenheim cut their target price on Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research note 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $35.13.

Gentex 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.