Bank of Montreal Can Reduces Holdings in Gentex Co. (NASDAQ:GNTX)

Bank of Montreal Can lowered its position in Gentex Co. (NASDAQ:GNTX) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 377,675 shares of the auto parts company’s stock after selling 987 shares during the quarter. Bank of Montreal Can owned about 0.17% of Gentex worth $11,700,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GNTX. Burgundy Asset Management Ltd. lifted its stake in Gentex by 3.0% in the second quarter. Burgundy Asset Management Ltd. now owns 4,343,880 shares of the auto parts company’s stock worth $146,432,000 after purchasing an additional 126,416 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its stake in shares of Gentex by 1.0% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 4,259,831 shares of the auto parts company’s stock worth $143,599,000 after acquiring an additional 43,457 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Gentex by 14.0% during the 2nd 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 period. Epoch Investment Partners Inc. grew its position in Gentex by 8.7% in the 2nd quarter. Epoch Investment Partners Inc. now owns 3,222,359 shares of the auto parts company’s stock valued at $108,626,000 after acquiring an additional 259,109 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Gentex by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 2,672,123 shares of the auto parts company’s stock worth $90,077,000 after purchasing an additional 72,599 shares during the period. Institutional investors own 86.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Guggenheim lowered their price target on Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, November 21st. UBS Group assumed coverage on Gentex in a report on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 target price for the company. Robert W. Baird raised their price target on Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Bank of America lowered their price objective 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. Finally, The Goldman Sachs Group cut their target price 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. 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.com, Gentex presently has an average rating of “Hold” and a consensus target price of $35.13.

Gentex Stock Performance

GNTX stock opened at $30.56 on Monday. Gentex Co. has a one year low of $28.30 and a one year high of $37.58. The firm has a market cap of $6.95 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.08 and a beta of 0.91. The firm has a 50-day simple moving average of $30.05 and a two-hundred day simple moving average of $31.46.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $0.48 annualized dividend and a yield of 1.57%. Gentex’s dividend payout ratio (DPR) is 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.