Jane Street Group LLC Lowers Position in Gentex Co. (NASDAQ:GNTX)

Jane Street Group LLC trimmed its stake in shares of Gentex Co. (NASDAQ:GNTX) by 79.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 85,289 shares of the auto parts company’s stock after selling 336,869 shares during the period. Jane Street Group LLC’s holdings in Gentex were worth $2,532,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its holdings in shares of Gentex by 14.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,989,248 shares of the auto parts company’s stock worth $134,475,000 after purchasing an additional 489,689 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Gentex by 344.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 589,916 shares of the auto parts company’s stock worth $19,886,000 after acquiring an additional 457,054 shares during the last quarter. Bridgewater Associates LP raised its holdings in shares of Gentex by 249.1% during the 3rd quarter. Bridgewater Associates LP now owns 617,657 shares of the auto parts company’s stock worth $18,338,000 after acquiring an additional 440,725 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Gentex by 327.8% during the 3rd quarter. Citigroup Inc. now owns 483,842 shares of the auto parts company’s stock worth $14,365,000 after acquiring an additional 370,746 shares in the last quarter. Finally, Rice Hall James & Associates LLC bought a new position in shares of Gentex during the 3rd quarter valued at approximately $8,470,000. 86.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on GNTX. The Goldman Sachs Group reduced their price target 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. Bank of America decreased their target price on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. UBS Group initiated coverage on Gentex in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price target for the company. Robert W. Baird upped their price objective on Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Finally, Guggenheim lowered their price objective on Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Gentex has an average rating of “Hold” and a consensus target price of $35.13.

Gentex Stock Performance

GNTX opened at $29.15 on Monday. The stock’s 50 day moving average price is $30.19 and its 200-day moving average price is $31.00. Gentex Co. has a one year low of $28.30 and a one year high of $37.58. The stock has a market cap of $6.63 billion, a price-to-earnings ratio of 15.59, a P/E/G ratio of 1.09 and a beta of 0.91.

Gentex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.65%. The ex-dividend date is Wednesday, January 8th. Gentex’s dividend payout ratio (DPR) is presently 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.