Private Advisor Group LLC Sells 12,812 Shares of Gentex Co. (NASDAQ:GNTX)

Private Advisor Group LLC lessened its holdings in Gentex Co. (NASDAQ:GNTX) by 44.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,127 shares of the auto parts company’s stock after selling 12,812 shares during the period. Private Advisor Group LLC’s holdings in Gentex were worth $479,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of GNTX. Scharf Investments LLC increased its position in Gentex by 36,001.4% in the second quarter. Scharf Investments LLC now owns 2,278,357 shares of the auto parts company’s stock worth $76,803,000 after purchasing an additional 2,272,046 shares during the last quarter. TD Asset Management Inc increased its position in Gentex by 41.2% in the first quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock worth $168,957,000 after purchasing an additional 1,363,898 shares during the last quarter. Motley Fool Asset Management LLC increased its position in Gentex by 287.7% during the first quarter. Motley Fool Asset Management LLC now owns 1,204,152 shares of the auto parts company’s stock valued at $43,494,000 after acquiring an additional 893,552 shares during the last quarter. Epoch Investment Partners Inc. increased its position in Gentex by 32.6% during the first quarter. Epoch Investment Partners Inc. now owns 2,963,250 shares of the auto parts company’s stock valued at $107,033,000 after acquiring an additional 727,913 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Gentex by 14.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,989,248 shares of the auto parts company’s stock valued at $134,475,000 after acquiring an additional 489,689 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Bank of America cut their price objective on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. 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. JPMorgan Chase & Co. cut their price objective on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. B. Riley cut their price target on shares of Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Monday, July 29th. Finally, Robert W. Baird upped their price target 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 analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Gentex has an average rating of “Hold” and a consensus price target of $36.00.

Insider Buying and Selling

In other Gentex news, major shareholder Corp Gentex acquired 3,152,500 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average cost of $5.00 per share, with a total value of $15,762,500.00. Following the completion of the purchase, the insider now directly owns 6,463,808 shares in the company, valued at $32,319,040. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is owned by insiders.

Gentex Price Performance

NASDAQ:GNTX opened at $30.09 on Tuesday. Gentex Co. has a 1-year low of $28.30 and a 1-year high of $37.58. The company has a 50-day moving average of $29.95 and a 200 day moving average of $32.04. The firm has a market cap of $6.93 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 0.98 and a beta of 0.91.

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Wednesday, October 9th. Gentex’s dividend payout ratio (DPR) is presently 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.