MML Investors Services LLC Sells 10,959 Shares of Gentex Co. (NASDAQ:GNTX)

MML Investors Services LLC lessened its stake in Gentex Co. (NASDAQ:GNTX) by 25.8% in the third quarter, HoldingsChannel reports. The firm owned 31,515 shares of the auto parts company’s stock after selling 10,959 shares during the period. MML Investors Services LLC’s holdings in Gentex were worth $936,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GNTX. Quest Partners LLC acquired a new position in shares of Gentex during the 2nd quarter worth about $31,000. EverSource Wealth Advisors LLC increased its stake in Gentex by 173.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock valued at $42,000 after purchasing an additional 850 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in 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 purchasing an additional 1,269 shares during the period. HHM Wealth Advisors LLC bought a new position in shares of Gentex during the second quarter worth $67,000. Finally, KBC Group NV boosted its position in shares of Gentex by 13.3% during the third quarter. KBC Group NV now owns 5,664 shares of the auto parts company’s stock worth $168,000 after purchasing an additional 667 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Gentex Trading Down 0.6 %

Gentex stock opened at $29.13 on Friday. Gentex Co. has a 1-year low of $28.30 and a 1-year high of $37.58. The company has a fifty day simple moving average of $30.19 and a 200 day simple moving average of $31.09. The company has a market cap of $6.63 billion, a P/E ratio of 15.58, a price-to-earnings-growth ratio of 1.09 and a beta of 0.91.

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 $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Wednesday, January 8th. Gentex’s dividend payout ratio is currently 25.67%.

Wall Street Analyst Weigh In

GNTX has been the subject of a number of research analyst reports. Robert W. Baird boosted their target price on Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. UBS Group initiated coverage on Gentex in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price objective for the company. Bank of America cut their price target 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. Guggenheim lowered their price objective on shares of Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Finally, The Goldman Sachs Group cut their price objective on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st. Six 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, the stock currently has a consensus rating of “Hold” and a consensus price target 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.