Factorial Partners LLC Sells 8,200 Shares of Gentex Co. (NASDAQ:GNTX)

Factorial Partners LLC reduced its position in Gentex Co. (NASDAQ:GNTX) by 16.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 42,800 shares of the auto parts company’s stock after selling 8,200 shares during the period. Factorial Partners LLC’s holdings in Gentex were worth $1,271,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Phoenix Wealth Advisors lifted its stake in Gentex by 3.1% in the 2nd quarter. Phoenix Wealth Advisors now owns 10,196 shares of the auto parts company’s stock worth $344,000 after purchasing an additional 306 shares in the last quarter. Lindenwold Advisors INC increased its holdings in shares of Gentex by 2.8% in the third quarter. Lindenwold Advisors INC now owns 12,539 shares of the auto parts company’s stock worth $372,000 after purchasing an additional 347 shares during the period. Toronto Dominion Bank raised its position in shares of Gentex by 0.9% in the first quarter. Toronto Dominion Bank now owns 42,346 shares of the auto parts company’s stock worth $1,530,000 after buying an additional 370 shares in the last quarter. United Services Automobile Association raised its position in shares of Gentex by 2.5% in the second quarter. United Services Automobile Association now owns 17,447 shares of the auto parts company’s stock worth $588,000 after buying an additional 427 shares in the last quarter. Finally, Harfst & Associates Inc. grew its position in Gentex by 0.7% during the second quarter. Harfst & Associates Inc. now owns 66,692 shares of the auto parts company’s stock worth $2,248,000 after buying an additional 450 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Gentex

In related news, major shareholder Corp Gentex purchased 3,152,500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average cost of $5.00 per share, with a total value of $15,762,500.00. Following the completion of the purchase, the insider now directly owns 6,463,808 shares in the company, valued at approximately $32,319,040. This represents a 95.20 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.41% of the stock is owned by corporate insiders.

Gentex Price Performance

Shares of NASDAQ:GNTX opened at $29.07 on Wednesday. The stock’s 50-day moving average is $29.87 and its 200 day moving average is $31.71. The company has a market cap of $6.61 billion, a PE ratio of 15.55, a P/E/G ratio of 0.97 and a beta of 0.91. Gentex Co. has a 1 year low of $28.30 and a 1 year high of $37.58.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, October 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.65%. Gentex’s dividend payout ratio (DPR) is presently 25.67%.

Analyst Ratings Changes

GNTX has been the subject of a number of research reports. B. Riley cut their price target on shares of Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Monday, July 29th. Robert W. Baird boosted their target price on Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Bank of America cut their target price on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. The Goldman Sachs Group lowered their price objective on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Finally, BNP Paribas lowered shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 target price on the stock. in a report on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Gentex presently has an average rating of “Hold” and an average target price of $36.00.

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.