Victory Capital Management Inc. Sells 2,464 Shares of Gentex Co. (NASDAQ:GNTX)

Victory Capital Management Inc. reduced its holdings in Gentex Co. (NASDAQ:GNTX) by 5.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,768 shares of the auto parts company’s stock after selling 2,464 shares during the quarter. Victory Capital Management Inc.’s holdings in Gentex were worth $1,329,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of GNTX. Quest Partners LLC acquired a new position in Gentex in the second quarter worth $31,000. Gladius Capital Management LP acquired a new position in Gentex during the 2nd quarter worth about $34,000. EverSource Wealth Advisors LLC grew its holdings 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 acquiring an additional 850 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in Gentex by 227.8% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock valued at $54,000 after acquiring an additional 1,269 shares in the last quarter. Finally, HHM Wealth Advisors LLC bought a new position in shares of Gentex in the second quarter worth about $67,000. 86.76% of the stock is currently owned by institutional investors.

Gentex Trading Down 0.6 %

Shares of GNTX opened at $30.88 on Wednesday. The stock has a market cap of $7.02 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 1.07 and a beta of 0.91. Gentex Co. has a 1 year low of $28.30 and a 1 year high of $37.58. The stock’s 50-day moving average price is $29.99 and its two-hundred day moving average price is $31.55.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.55%. Gentex’s payout ratio is 25.67%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. BNP Paribas cut shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research note on Tuesday, July 30th. Bank of America lowered their target price on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. UBS Group started coverage on Gentex in a research report on Wednesday, September 4th. They set 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 report on Monday, October 28th. Finally, The Goldman Sachs Group dropped their price objective on Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $35.13.

Gentex 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.