Loomis Sayles & Co. L P Decreases Stock Holdings in Gentex Co. (NASDAQ:GNTX)

Loomis Sayles & Co. L P reduced its holdings in Gentex Co. (NASDAQ:GNTX) by 0.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 867,731 shares of the auto parts company’s stock after selling 1,493 shares during the period. Loomis Sayles & Co. L P’s holdings in Gentex were worth $25,763,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Citigroup Inc. grew its position in Gentex by 327.8% in the third quarter. Citigroup Inc. now owns 483,842 shares of the auto parts company’s stock worth $14,365,000 after acquiring an additional 370,746 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in shares of Gentex by 56.2% in the 3rd quarter. Raymond James Trust N.A. now owns 16,427 shares of the auto parts company’s stock worth $488,000 after purchasing an additional 5,908 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Gentex by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,554,823 shares of the auto parts company’s stock worth $46,163,000 after purchasing an additional 6,106 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Gentex by 155.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 136,020 shares of the auto parts company’s stock valued at $4,038,000 after purchasing an additional 82,701 shares during the last quarter. Finally, Commerce Bank raised its holdings in Gentex by 20.7% during the 3rd quarter. Commerce Bank now owns 16,468 shares of the auto parts company’s stock valued at $489,000 after buying an additional 2,827 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on GNTX. Guggenheim dropped 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. Robert W. Baird lifted 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. BNP Paribas lowered shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research report on Tuesday, July 30th. Bank of America dropped their target price on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Finally, The Goldman Sachs Group cut their target price on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $35.13.

Gentex Stock Performance

Shares of GNTX opened at $30.88 on Wednesday. The company has a 50 day moving average price of $29.99 and a 200-day moving average price of $31.55. Gentex Co. has a fifty-two week low of $28.30 and a fifty-two week high of $37.58. The stock has a market capitalization of $7.02 billion, a PE ratio of 16.51, a PEG ratio of 1.07 and a beta of 0.91.

Gentex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.55%. Gentex’s dividend payout ratio (DPR) is presently 25.67%.

Gentex Company 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.