Wedge Capital Management L L P NC Decreases Stock Holdings in Gentex Co. (NASDAQ:GNTX)

Wedge Capital Management L L P NC lowered its stake in shares of Gentex Co. (NASDAQ:GNTX) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 384,451 shares of the auto parts company’s stock after selling 9,574 shares during the period. Wedge Capital Management L L P NC’s holdings in Gentex were worth $11,045,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its holdings in shares of 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. lifted its holdings in shares of 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 valued at $54,000 after purchasing an additional 1,269 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Gentex in the third quarter valued at about $125,000. GAMMA Investing LLC lifted its holdings in shares of Gentex by 159.1% in the fourth quarter. GAMMA Investing LLC now owns 5,133 shares of the auto parts company’s stock valued at $147,000 after purchasing an additional 3,152 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of Gentex by 13.3% in the third quarter. KBC Group NV now owns 5,664 shares of the auto parts company’s stock valued at $168,000 after purchasing an additional 667 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Stock Performance

Shares of GNTX stock opened at $27.97 on Friday. Gentex Co. has a one year low of $26.58 and a one year high of $37.58. The company has a 50 day moving average price of $29.37 and a 200 day moving average price of $30.21. The firm has a market capitalization of $6.36 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 0.83 and a beta of 0.91.

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.72%. The ex-dividend date is Wednesday, January 8th. Gentex’s dividend payout ratio (DPR) is 25.67%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GNTX shares. Bank of America reduced their price target on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Guggenheim reduced their price objective on shares of Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. The Goldman Sachs Group reduced their price objective on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. Finally, Robert W. Baird upped their price objective on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $35.13.

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.