Cambiar Investors LLC Lowers Holdings in Gentex Corporation $GNTX

Cambiar Investors LLC reduced its stake in shares of Gentex Corporation (NASDAQ:GNTX) by 39.6% in the 3rd quarter, Holdings Channel reports. The fund owned 278,837 shares of the auto parts company’s stock after selling 182,510 shares during the period. Cambiar Investors LLC’s holdings in Gentex were worth $7,891,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. American Century Companies Inc. grew its stake in shares of Gentex by 60.5% during the 2nd quarter. American Century Companies Inc. now owns 6,611,258 shares of the auto parts company’s stock worth $145,382,000 after purchasing an additional 2,492,026 shares during the period. Norges Bank purchased a new stake in Gentex during the second quarter worth $51,815,000. Qube Research & Technologies Ltd grew its position in Gentex by 370.8% during the second quarter. Qube Research & Technologies Ltd now owns 2,615,981 shares of the auto parts company’s stock valued at $57,525,000 after buying an additional 2,060,287 shares during the period. Deprince Race & Zollo Inc. purchased a new position in Gentex in the third quarter valued at $26,283,000. Finally, Global Alpha Capital Management Ltd. purchased a new position in Gentex in the second quarter valued at $19,318,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Price Performance

NASDAQ GNTX opened at $23.85 on Wednesday. The stock’s 50 day simple moving average is $23.46 and its 200-day simple moving average is $25.27. The company has a market cap of $5.22 billion, a PE ratio of 14.03 and a beta of 0.78. Gentex Corporation has a 1-year low of $20.28 and a 1-year high of $29.38.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Wednesday, January 7th were issued a $0.12 dividend. The ex-dividend date was Wednesday, January 7th. This represents a $0.48 dividend on an annualized basis and a yield of 2.0%. Gentex’s dividend payout ratio (DPR) is presently 28.24%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group set a $27.00 target price on shares of Gentex and gave the stock a “neutral” rating in a research note on Monday, October 27th. UBS Group reiterated a “neutral” rating and set a $29.00 price target (up previously from $28.00) on shares of Gentex in a research report on Monday, October 6th. JPMorgan Chase & Co. boosted their price objective on Gentex from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. Robert W. Baird set a $26.00 target price on Gentex in a research note on Wednesday, January 14th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Gentex in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Gentex has a consensus rating of “Hold” and an average target price of $27.86.

About Gentex

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).