D.A. Davidson & CO. Sells 12,629 Shares of Gentex Co. (NASDAQ:GNTX)

D.A. Davidson & CO. decreased its position in shares of Gentex Co. (NASDAQ:GNTX) by 57.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,362 shares of the auto parts company’s stock after selling 12,629 shares during the quarter. D.A. Davidson & CO.’s holdings in Gentex were worth $278,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quest Partners LLC bought a new stake in Gentex during the second quarter worth about $31,000. Gladius Capital Management LP bought a new stake in Gentex during the second quarter worth about $34,000. EverSource Wealth Advisors LLC lifted its position in Gentex by 173.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock worth $42,000 after purchasing an additional 850 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Gentex by 227.8% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock worth $54,000 after acquiring an additional 1,269 shares during the last quarter. Finally, HHM Wealth Advisors LLC bought a new position in shares of Gentex in the second quarter worth about $67,000. Institutional investors own 86.76% of the company’s stock.

Gentex Price Performance

Shares of NASDAQ GNTX opened at $30.07 on Thursday. The company has a 50 day simple moving average of $30.04 and a 200 day simple moving average of $31.40. The firm has a market cap of $6.84 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 1.08 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be issued 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 1.60%. Gentex’s payout ratio is 25.67%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. The Goldman Sachs Group dropped their target price on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. UBS Group assumed coverage on shares of Gentex in a report on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 target price for the company. Guggenheim dropped their target price on shares of Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Bank of America dropped their target price 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. Finally, Robert W. Baird increased their target price 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 investment 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 stock currently 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.