Country Trust Bank Sells 17,737 Shares of Gentex Co. (GNTX)
Country Trust Bank decreased its position in shares of Gentex Co. (NASDAQ:GNTX) by 1.3% during the 4th quarter, HoldingsChannel reports. The fund owned 1,327,771 shares of the auto parts company’s stock after selling 17,737 shares during the period. Country Trust Bank’s holdings in Gentex were worth $27,817,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. First Citizens Bank & Trust Co. acquired a new stake in shares of Gentex during the 4th quarter valued at $354,000. Aurora Investment Counsel acquired a new stake in shares of Gentex during the 4th quarter valued at $1,414,000. Sterling Capital Management LLC boosted its holdings in shares of Gentex by 4.5% during the 3rd quarter. Sterling Capital Management LLC now owns 4,713,571 shares of the auto parts company’s stock valued at $93,329,000 after acquiring an additional 203,025 shares in the last quarter. Griffin Asset Management Inc. acquired a new stake in shares of Gentex during the 3rd quarter valued at $811,000. Finally, California Public Employees Retirement System boosted its holdings in shares of Gentex by 3.3% during the 3rd quarter. California Public Employees Retirement System now owns 596,783 shares of the auto parts company’s stock valued at $11,816,000 after acquiring an additional 19,083 shares in the last quarter. 81.72% of the stock is currently owned by institutional investors.
Shares of Gentex Co. (NASDAQ:GNTX) traded down $0.23 on Thursday, reaching $21.49. The company’s stock had a trading volume of 1,898,000 shares, compared to its average volume of 2,500,500. The firm has a market cap of $6,250.00, a P/E ratio of 17.06, a PEG ratio of 1.63 and a beta of 1.22. Gentex Co. has a 52-week low of $16.59 and a 52-week high of $22.12.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Friday, January 5th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Thursday, January 4th. Gentex’s payout ratio is presently 31.75%.
Several research firms recently weighed in on GNTX. Zacks Investment Research raised Gentex from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Wednesday. Longbow Research assumed coverage on Gentex in a report on Friday, January 5th. They set a “buy” rating and a $25.00 target price on the stock. ValuEngine raised Gentex from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. BidaskClub raised Gentex from a “buy” rating to a “strong-buy” rating in a report on Friday, December 22nd. Finally, B. Riley reaffirmed a “buy” rating on shares of Gentex in a report on Wednesday, November 1st. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $22.69.
Gentex Corporation designs and manufactures automatic-dimming rearview mirrors and electronics for the automotive industry, dimmable aircraft windows for the aviation industry, and commercial smoke alarms and signaling devices for the fire protection industry. The Company’s business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.
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