BCGM Wealth Management LLC Lowers Position in Gentex Co. (NASDAQ:GNTX)

BCGM Wealth Management LLC trimmed its position in Gentex Co. (NASDAQ:GNTX) by 1.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,563 shares of the auto parts company’s stock after selling 370 shares during the period. BCGM Wealth Management LLC’s holdings in Gentex were worth $1,026,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Gentex in the 1st quarter worth about $227,000. Empowered Funds LLC purchased a new stake in Gentex in the first quarter worth about $353,000. SG Americas Securities LLC increased its stake in shares of Gentex by 72.2% during the first quarter. SG Americas Securities LLC now owns 8,737 shares of the auto parts company’s stock valued at $316,000 after purchasing an additional 3,663 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Gentex by 6.4% during the first quarter. Sei Investments Co. now owns 131,584 shares of the auto parts company’s stock valued at $4,753,000 after purchasing an additional 7,935 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Gentex by 1.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 300,533 shares of the auto parts company’s stock worth $10,855,000 after purchasing an additional 4,126 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Insider Buying and Selling

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

Gentex Stock Performance

Shares of NASDAQ:GNTX opened at $30.15 on Friday. The business has a 50-day simple moving average of $29.87 and a two-hundred day simple moving average of $31.79. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 0.97 and a beta of 0.91. Gentex Co. has a fifty-two week low of $28.30 and a fifty-two week high of $37.58.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Wednesday, October 9th. Gentex’s dividend payout ratio is currently 25.67%.

Analyst Ratings Changes

A number of research firms recently weighed in on GNTX. Bank of America reduced their price objective on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. The Goldman Sachs Group reduced their price target on Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. JPMorgan Chase & Co. dropped their price target on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. BNP Paribas downgraded 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. Finally, Robert W. Baird lifted their target price on shares of Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $36.00.

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.