MetLife Investment Management LLC trimmed its stake in Gentex Co. (NASDAQ:GNTX – Free Report) by 2.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,006 shares of the auto parts company’s stock after selling 2,733 shares during the period. MetLife Investment Management LLC owned approximately 0.05% of Gentex worth $3,533,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Quest Partners LLC purchased a new position in Gentex during the 2nd quarter worth $31,000. Gladius Capital Management LP purchased a new position in Gentex during the 2nd quarter worth $34,000. EverSource Wealth Advisors LLC grew its position in Gentex by 173.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock worth $42,000 after purchasing an additional 850 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in Gentex by 227.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock worth $54,000 after purchasing an additional 1,269 shares during the last quarter. Finally, HHM Wealth Advisors LLC purchased a new position in Gentex during the 2nd quarter worth $67,000. 86.76% of the stock is owned by hedge funds and other institutional investors.
Gentex Stock Down 1.9 %
Shares of NASDAQ GNTX opened at $30.11 on Wednesday. Gentex Co. has a 52 week low of $28.30 and a 52 week high of $37.58. The firm has a 50-day moving average price of $30.04 and a 200 day moving average price of $31.40. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 1.08 and a beta of 0.91.
Gentex Dividend Announcement
Analysts Set New Price Targets
Several brokerages have issued reports on GNTX. UBS Group began coverage on shares of Gentex in a research report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price objective on the stock. The Goldman Sachs Group reduced their target price on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st. Bank of America reduced their target price on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Guggenheim reduced their target price 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. Finally, Robert W. Baird raised 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. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Gentex presently has an average rating of “Hold” and an average price target of $35.13.
Read Our Latest Research Report on GNTX
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.
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