Gentex Co. (NASDAQ:GNTX) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI reduced its position in Gentex Co. (NASDAQ:GNTX) by 31.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,139 shares of the auto parts company’s stock after selling 5,000 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Gentex were worth $320,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EdgePoint Investment Group Inc. raised its position in shares of Gentex by 1.5% in the third quarter. EdgePoint Investment Group Inc. now owns 7,699,919 shares of the auto parts company’s stock valued at $228,611,000 after buying an additional 111,500 shares during the last quarter. Geode Capital Management LLC lifted its stake in Gentex by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company’s stock worth $159,406,000 after purchasing an additional 285,802 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in shares of Gentex by 5.5% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 4,493,914 shares of the auto parts company’s stock worth $133,424,000 after purchasing an additional 234,083 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Gentex by 179.7% in the third quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company’s stock valued at $59,404,000 after purchasing an additional 1,285,519 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Gentex by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,554,823 shares of the auto parts company’s stock valued at $46,163,000 after purchasing an additional 6,106 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Bank of America lowered their price objective on 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 dropped their price objective 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. Robert W. Baird lifted their target price on shares of Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Finally, Guggenheim dropped their price target on shares of Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $35.13.

Gentex Price Performance

Shares of GNTX opened at $27.92 on Wednesday. The firm has a 50-day simple moving average of $29.11 and a two-hundred day simple moving average of $29.95. The stock has a market cap of $6.35 billion, a PE ratio of 14.93, a P/E/G ratio of 0.87 and a beta of 0.91. Gentex Co. has a 1-year low of $26.58 and a 1-year high of $37.58.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Wednesday, January 8th. Gentex’s payout ratio is 25.67%.

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.