CI Investments Inc. decreased its position in shares of Gentex Co. (NASDAQ:GNTX – Get Rating) by 12.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,352 shares of the auto parts company’s stock after selling 935 shares during the quarter. CI Investments Inc.’s holdings in Gentex were worth $185,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. KRS Capital Management LLC acquired a new stake in shares of Gentex during the 4th quarter worth approximately $28,000. Wagner Wealth Management LLC acquired a new stake in Gentex in the 4th quarter valued at $35,000. Covestor Ltd acquired a new stake in Gentex in the 4th quarter valued at $37,000. Wahed Invest LLC acquired a new stake in Gentex in the 4th quarter valued at $97,000. Finally, Hardy Reed LLC acquired a new stake in Gentex in the 1st quarter valued at $98,000. Institutional investors and hedge funds own 86.54% of the company’s stock.
Gentex Stock Down 1.1 %
Shares of GNTX opened at $26.48 on Wednesday. Gentex Co. has a 52-week low of $26.16 and a 52-week high of $37.90. The firm’s fifty day moving average is $28.19 and its two-hundred day moving average is $28.88. The stock has a market cap of $6.23 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 1.51 and a beta of 0.88.
Gentex Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 19th. Shareholders of record on Friday, October 7th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $0.48 annualized dividend and a yield of 1.81%. Gentex’s dividend payout ratio (DPR) is presently 35.56%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on GNTX shares. Guggenheim dropped their price target on shares of Gentex to $33.00 in a research note on Monday, July 25th. Seaport Res Ptn reissued a “buy” rating on shares of Gentex in a research note on Sunday, July 31st. B. Riley dropped their price target on shares of Gentex from $37.50 to $35.00 and set a “buy” rating on the stock in a research note on Monday, July 25th. TheStreet cut shares of Gentex from a “b-” rating to a “c” rating in a research note on Friday, July 22nd. Finally, StockNews.com cut shares of Gentex from a “buy” rating to a “hold” rating in a research note on Saturday, August 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Gentex presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.75.
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, 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.
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