Mutual of America Capital Management LLC Sells 7,942 Shares of Gentex Co. (NASDAQ:GNTX)

Mutual of America Capital Management LLC decreased its position in Gentex Co. (NASDAQ:GNTX) by 6.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,422 shares of the auto parts company’s stock after selling 7,942 shares during the period. Mutual of America Capital Management LLC owned approximately 0.05% of Gentex worth $3,694,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GNTX. Phoenix Wealth Advisors increased its holdings in Gentex by 3.1% in the 2nd quarter. Phoenix Wealth Advisors now owns 10,196 shares of the auto parts company’s stock worth $344,000 after buying an additional 306 shares in the last quarter. Toronto Dominion Bank raised its holdings in Gentex by 0.9% in the 1st quarter. Toronto Dominion Bank now owns 42,346 shares of the auto parts company’s stock worth $1,530,000 after purchasing an additional 370 shares during the period. United Services Automobile Association lifted its position in Gentex by 2.5% during the second quarter. United Services Automobile Association now owns 17,447 shares of the auto parts company’s stock valued at $588,000 after purchasing an additional 427 shares in the last quarter. Harfst & Associates Inc. grew its holdings in Gentex by 0.7% during the second quarter. Harfst & Associates Inc. now owns 66,692 shares of the auto parts company’s stock valued at $2,248,000 after purchasing an additional 450 shares during the period. Finally, Blue Trust Inc. increased its position in Gentex by 4.0% in the second quarter. Blue Trust Inc. now owns 12,434 shares of the auto parts company’s stock worth $449,000 after buying an additional 475 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GNTX. B. Riley cut their price objective on Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Monday, July 29th. UBS Group started coverage on shares of Gentex in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price objective for the company. 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 research note on Monday, October 14th. The Goldman Sachs Group cut their price target on Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st. Finally, Robert W. Baird boosted their price objective on Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $35.13.

Gentex Stock Up 1.7 %

Shares of Gentex stock opened at $30.40 on Friday. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 0.94 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 has a 50-day moving average price of $29.92 and a 200-day moving average price of $31.65.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.58%. The ex-dividend date was Wednesday, October 9th. Gentex’s dividend payout ratio is presently 25.67%.

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.