Gentex Co. (NASDAQ:GNTX) Shares Sold by Goelzer Investment Management Inc.

Goelzer Investment Management Inc. decreased its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 2.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 273,958 shares of the auto parts company’s stock after selling 6,878 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Gentex were worth $7,871,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. American Century Companies Inc. grew its holdings in Gentex by 10.1% in the 2nd quarter. American Century Companies Inc. now owns 95,523 shares of the auto parts company’s stock valued at $3,220,000 after buying an additional 8,793 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in Gentex by 47.3% in the second quarter. Mercer Global Advisors Inc. ADV now owns 22,593 shares of the auto parts company’s stock valued at $762,000 after purchasing an additional 7,255 shares during the period. Pacer Advisors Inc. increased its position in Gentex by 5.0% during the second quarter. Pacer Advisors Inc. now owns 44,857 shares of the auto parts company’s stock worth $1,512,000 after purchasing an additional 2,151 shares during the last quarter. Sei Investments Co. raised its stake in Gentex by 149.8% during the second quarter. Sei Investments Co. now owns 328,659 shares of the auto parts company’s stock worth $11,079,000 after purchasing an additional 197,075 shares during the period. Finally, Ensign Peak Advisors Inc boosted its holdings in shares of Gentex by 56.4% in the 2nd quarter. Ensign Peak Advisors Inc now owns 109,451 shares of the auto parts company’s stock valued at $3,690,000 after purchasing an additional 39,470 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GNTX. The Goldman Sachs Group dropped their price objective on Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Robert W. Baird lifted their price objective on Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. 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 research report on Monday, October 14th. Finally, Guggenheim reduced their price target on shares of Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $35.13.

Gentex Trading Down 0.9 %

NASDAQ GNTX opened at $27.73 on Friday. The company’s fifty day simple moving average is $29.19 and its 200-day simple moving average is $30.08. The stock has a market cap of $6.31 billion, a P/E ratio of 14.83, a PEG ratio of 0.87 and a beta of 0.91. Gentex Co. has a 52 week low of $26.58 and a 52 week high of $37.58.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, January 8th. This represents a $0.48 annualized dividend and a dividend yield of 1.73%. 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.