OLD National Bancorp IN cut its stake in shares of Gentex Co. (NASDAQ:GNTX) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,672 shares of the auto parts company’s stock after selling 1,202 shares during the period. OLD National Bancorp IN’s holdings in Gentex were worth $903,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in GNTX. Bremer Trust National Association acquired a new stake in Gentex in the fourth quarter valued at $25,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in Gentex during the 4th quarter worth about $27,000. Creative Financial Designs Inc. ADV acquired a new stake in Gentex during the 1st quarter worth about $27,000. Lindbrook Capital LLC acquired a new stake in Gentex during the 4th quarter worth about $32,000. Finally, Dubuque Bank & Trust Co. acquired a new stake in Gentex during the 1st quarter worth about $33,000. Institutional investors own 85.58% of the company’s stock.
Shares of NASDAQ:GNTX opened at $21.92 on Tuesday. Gentex Co. has a one year low of $17.80 and a one year high of $25.41. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 2.29 and a beta of 1.14.
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 2.10%. This is an increase from Gentex’s previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, April 9th. Gentex’s dividend payout ratio (DPR) is presently 28.40%.
Several equities analysts recently weighed in on GNTX shares. BMO Capital Markets dropped their price target on shares of Gentex from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 2nd. BidaskClub upgraded shares of Gentex from a “sell” rating to a “hold” rating in a research note on Thursday, March 7th. Jefferies Financial Group reiterated a “hold” rating and issued a $23.00 price objective on shares of Gentex in a research note on Monday, February 4th. ValuEngine lowered shares of Gentex from a “hold” rating to a “sell” rating in a research note on Thursday, February 14th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Gentex in a report on Wednesday, January 30th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Gentex currently has a consensus rating of “Hold” and an average target price of $21.78.
In other Gentex news, VP Matthew Chiodo sold 3,000 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $20.82, for a total value of $62,460.00. Following the completion of the sale, the vice president now directly owns 34,454 shares of the company’s stock, valued at $717,332.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Neil Boehm sold 2,686 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $20.82, for a total transaction of $55,922.52. Following the completion of the sale, the insider now directly owns 42,883 shares of the company’s stock, valued at $892,824.06. The disclosure for this sale can be found here. Over the last three months, insiders acquired 2,009 shares of company stock valued at $35,318 and sold 10,731 shares valued at $235,427. 0.37% of the stock is owned by company insiders.
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Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It designs, develops, manufactures, and markets 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, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.
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