Royce & Associates LP Decreases Stock Holdings in Gentex Co. (NASDAQ:GNTX)

Royce & Associates LP reduced its position in shares of Gentex Co. (NASDAQ:GNTX) by 10.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 335,200 shares of the auto parts company’s stock after selling 39,731 shares during the period. Royce & Associates LP owned 0.15% of Gentex worth $9,952,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GNTX. Boston Partners grew its position in shares of Gentex by 4.2% in the 1st quarter. Boston Partners now owns 5,706,411 shares of the auto parts company’s stock worth $206,095,000 after buying an additional 230,873 shares during the last quarter. Burgundy Asset Management Ltd. boosted its holdings in Gentex by 3.0% in the second quarter. Burgundy Asset Management Ltd. now owns 4,343,880 shares of the auto parts company’s stock valued at $146,432,000 after acquiring an additional 126,416 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its position in Gentex by 1.0% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 4,259,831 shares of the auto parts company’s stock valued at $143,599,000 after purchasing an additional 43,457 shares during the period. Dimensional Fund Advisors LP raised its holdings in Gentex by 14.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,989,248 shares of the auto parts company’s stock worth $134,475,000 after purchasing an additional 489,689 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its stake in shares of Gentex by 8.7% during the 2nd quarter. Epoch Investment Partners Inc. now owns 3,222,359 shares of the auto parts company’s stock valued at $108,626,000 after purchasing an additional 259,109 shares in the last quarter. 86.76% of the stock is owned by institutional investors.

Insider Activity at Gentex

In other Gentex news, major shareholder Corp Gentex bought 3,152,500 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average price of $5.00 per share, with a total value of $15,762,500.00. Following the transaction, the insider now owns 6,463,808 shares in the company, valued at $32,319,040. This represents a 95.20 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.41% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. BNP Paribas lowered shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective for the company. in a report on Tuesday, July 30th. UBS Group initiated coverage on Gentex in a research report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price target on the stock. The Goldman Sachs Group decreased 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. JPMorgan Chase & Co. decreased their price target on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Finally, Bank of America dropped their price objective 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. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $36.00.

Gentex Stock Performance

NASDAQ:GNTX opened at $30.15 on Friday. The firm has a 50-day simple moving average of $29.87 and a two-hundred day simple moving average of $31.79. The firm has a market cap of $6.86 billion, a P/E ratio of 16.12, a P/E/G ratio of 0.98 and a beta of 0.91. Gentex Co. has a fifty-two week low of $28.30 and a fifty-two week high of $37.58.

Gentex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a yield of 1.59%. Gentex’s payout ratio is currently 25.67%.

About Gentex

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.