abrdn plc decreased its position in Gentex Co. (NASDAQ:GNTX – Get Rating) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,217 shares of the auto parts company’s stock after selling 483 shares during the quarter. abrdn plc’s holdings in Gentex were worth $473,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. We Are One Seven LLC grew its position in Gentex by 1.8% in the fourth quarter. We Are One Seven LLC now owns 20,607 shares of the auto parts company’s stock valued at $718,000 after acquiring an additional 367 shares in the last quarter. First Citizens Bank & Trust Co. boosted its stake in shares of Gentex by 5.4% during the 1st quarter. First Citizens Bank & Trust Co. now owns 7,223 shares of the auto parts company’s stock valued at $211,000 after buying an additional 373 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Gentex by 8.9% during the 1st quarter. Signaturefd LLC now owns 4,809 shares of the auto parts company’s stock valued at $140,000 after buying an additional 392 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Gentex by 1.7% during the 4th quarter. Fifth Third Bancorp now owns 28,392 shares of the auto parts company’s stock valued at $989,000 after buying an additional 464 shares during the last quarter. Finally, First Republic Investment Management Inc. boosted its stake in shares of Gentex by 5.2% during the 4th quarter. First Republic Investment Management Inc. now owns 9,897 shares of the auto parts company’s stock valued at $345,000 after buying an additional 490 shares during the last quarter. Institutional investors and hedge funds own 86.24% of the company’s stock.
Insider Buying and Selling at Gentex
In other Gentex news, Director Gary F. Goode sold 2,845 shares of the firm’s stock in a transaction on Friday, May 20th. The stock was sold at an average price of $30.17, for a total value of $85,833.65. Following the sale, the director now directly owns 27,861 shares in the company, valued at $840,566.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by company insiders.
Gentex Stock Performance
Gentex Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 20th. Shareholders of record on Friday, July 8th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Thursday, July 7th. Gentex’s payout ratio is 35.56%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on GNTX shares. Exane BNP Paribas started coverage on Gentex in a research note on Monday, April 11th. They set an “outperform” rating for the company. Jefferies Financial Group reduced their price objective on Gentex from $36.00 to $33.00 and set a “maintains” rating on the stock in a research note on Monday, July 25th. TheStreet cut Gentex from a “b-” rating to a “c” rating in a research note on Friday, July 22nd. BNP Paribas initiated coverage on Gentex in a research note on Monday, April 11th. They set an “outperform” rating on the stock. Finally, Robert W. Baird raised their price objective on Gentex from $33.00 to $34.00 in a research note on Monday, April 25th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Gentex presently has an average rating of “Moderate Buy” and a consensus price target of $32.00.
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, 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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