Goelzer Investment Management Inc. Lowers Stock Position in Gentex Co. (NASDAQ:GNTX)

Goelzer Investment Management Inc. decreased its holdings in Gentex Co. (NASDAQ:GNTX) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 273,958 shares of the auto parts company’s stock after selling 6,878 shares during the quarter. Goelzer Investment Management Inc. owned about 0.12% of Gentex worth $7,871,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. American Century Companies Inc. raised its position in Gentex by 10.1% during the 2nd quarter. American Century Companies Inc. now owns 95,523 shares of the auto parts company’s stock worth $3,220,000 after buying an additional 8,793 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of Gentex by 47.3% during the second quarter. Mercer Global Advisors Inc. ADV now owns 22,593 shares of the auto parts company’s stock worth $762,000 after acquiring an additional 7,255 shares during the period. Pacer Advisors Inc. raised its holdings in Gentex by 5.0% during the second quarter. Pacer Advisors Inc. now owns 44,857 shares of the auto parts company’s stock worth $1,512,000 after purchasing an additional 2,151 shares in the last quarter. Sei Investments Co. lifted its position in Gentex by 149.8% in the second quarter. Sei Investments Co. now owns 328,659 shares of the auto parts company’s stock valued at $11,079,000 after purchasing an additional 197,075 shares during the period. Finally, Ensign Peak Advisors Inc boosted its holdings in Gentex by 56.4% in the 2nd quarter. Ensign Peak Advisors Inc now owns 109,451 shares of the auto parts company’s stock valued at $3,690,000 after purchasing an additional 39,470 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Wall Street Analysts Forecast Growth

GNTX has been the subject of several recent analyst reports. Bank of America reduced their price target on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, October 14th. The Goldman Sachs Group reduced their target price on Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Robert W. Baird upped their price target on shares of Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Finally, Guggenheim reduced their price objective on shares of 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 given a buy rating to the stock. Based on data from MarketBeat.com, Gentex has an average rating of “Hold” and a consensus target price of $35.13.

Gentex Price Performance

Shares of GNTX opened at $27.73 on Friday. Gentex Co. has a 1-year low of $26.58 and a 1-year high of $37.58. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 0.87 and a beta of 0.91. The firm has a 50 day simple moving average of $29.19 and a 200-day simple moving average of $30.08.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Wednesday, January 8th. Gentex’s payout ratio is currently 25.67%.

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.