Cumberland Partners Ltd Decreases Stock Position in Gentex Co. (NASDAQ:GNTX)

Cumberland Partners Ltd lowered its stake in Gentex Co. (NASDAQ:GNTXFree Report) by 64.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,820 shares of the auto parts company’s stock after selling 116,795 shares during the quarter. Cumberland Partners Ltd’s holdings in Gentex were worth $1,925,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GNTX. XXEC Inc. lifted its stake in Gentex by 35.0% in the third quarter. XXEC Inc. now owns 172,306 shares of the auto parts company’s stock worth $5,116,000 after purchasing an additional 44,652 shares during the last quarter. Ashton Thomas Securities LLC increased its position in shares of Gentex by 10.3% during the third quarter. Ashton Thomas Securities LLC now owns 43,776 shares of the auto parts company’s stock worth $1,300,000 after acquiring an additional 4,080 shares during the period. Jensen Investment Management Inc. increased its holdings in Gentex by 11.2% during the third quarter. Jensen Investment Management Inc. now owns 172,120 shares of the auto parts company’s stock valued at $5,110,000 after buying an additional 17,300 shares during the period. Atria Investments Inc increased its holdings in Gentex by 2.0% during the third quarter. Atria Investments Inc now owns 28,940 shares of the auto parts company’s stock valued at $859,000 after buying an additional 577 shares during the period. Finally, JB Capital LLC increased its holdings in Gentex by 12.7% during the third quarter. JB Capital LLC now owns 102,757 shares of the auto parts company’s stock valued at $3,051,000 after buying an additional 11,568 shares during the period. Institutional investors own 86.76% of the company’s stock.

Gentex Stock Performance

Shares of GNTX stock traded down $0.17 on Tuesday, reaching $30.02. 262,329 shares of the company were exchanged, compared to its average volume of 1,462,797. The company has a market cap of $6.83 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 0.97 and a beta of 0.91. The business has a 50-day moving average price of $29.88 and a 200 day moving average price of $31.89. Gentex Co. has a 1 year low of $28.30 and a 1 year high of $37.58.

Gentex Announces Dividend

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 dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.48 annualized dividend and a yield of 1.60%. Gentex’s dividend payout ratio is presently 25.67%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Bank of America cut 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. 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. The Goldman Sachs Group cut their price target on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Robert W. Baird lifted 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. Finally, UBS Group began coverage on shares of Gentex in a research note on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $36.00.

Read Our Latest Report on GNTX

Insider Activity at Gentex

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

Gentex Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Gentex (NASDAQ:GNTX)

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