Franklin Resources Inc. Has $749,000 Position in Gentex Co. (NASDAQ:GNTX)

Franklin Resources Inc. lowered its holdings in Gentex Co. (NASDAQ:GNTX) by 82.5% in the third quarter, HoldingsChannel.com reports. The firm owned 25,346 shares of the auto parts company’s stock after selling 119,716 shares during the quarter. Franklin Resources Inc.’s holdings in Gentex were worth $749,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of GNTX. Dimensional Fund Advisors LP increased its position in Gentex by 14.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,989,248 shares of the auto parts company’s stock worth $134,475,000 after purchasing an additional 489,689 shares in the last quarter. Bridgewater Associates LP lifted its holdings in Gentex by 249.1% during the 3rd quarter. Bridgewater Associates LP now owns 617,657 shares of the auto parts company’s stock worth $18,338,000 after buying an additional 440,725 shares during the period. Citigroup Inc. increased its stake in shares of Gentex by 327.8% in the third quarter. Citigroup Inc. now owns 483,842 shares of the auto parts company’s stock valued at $14,365,000 after buying an additional 370,746 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Gentex by 53.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 905,080 shares of the auto parts company’s stock worth $26,872,000 after acquiring an additional 315,164 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Gentex by 5.6% in the third quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company’s stock worth $159,406,000 after acquiring an additional 285,802 shares during the period. Institutional investors own 86.76% of the company’s stock.

Gentex Trading Down 0.4 %

Gentex stock opened at $29.21 on Monday. The firm’s fifty day moving average price is $30.16 and its two-hundred day moving average price is $30.83. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 1.09 and a beta of 0.91. Gentex Co. has a 1-year low of $28.30 and a 1-year high of $37.58.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors 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 dividend yield of 1.64%. Gentex’s payout ratio is 25.67%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GNTX. Robert W. Baird boosted their price target 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. Guggenheim decreased their price target on Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, November 21st. The Goldman Sachs Group cut their target price on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st. Bank of America lowered their target price on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Finally, UBS Group began coverage on shares of Gentex in a research report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company 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.