Cumberland Partners Ltd Sells 116,795 Shares of Gentex Co. (NASDAQ:GNTX)

Cumberland Partners Ltd lowered its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 64.3% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 64,820 shares of the auto parts company’s stock after selling 116,795 shares during the period. Cumberland Partners Ltd’s holdings in Gentex were worth $1,925,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Quest Partners LLC acquired a new position in shares of Gentex during the second quarter worth $31,000. Gladius Capital Management LP acquired a new position in Gentex during the second quarter worth $34,000. EverSource Wealth Advisors LLC lifted its position in Gentex by 173.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock valued at $42,000 after acquiring an additional 850 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Gentex by 227.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock worth $54,000 after purchasing an additional 1,269 shares in the last quarter. Finally, HHM Wealth Advisors LLC purchased a new stake in Gentex in the 2nd quarter valued at $67,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Corp Gentex acquired 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, for a total transaction of $15,762,500.00. Following the acquisition, the insider now directly owns 6,463,808 shares in the company, valued at approximately $32,319,040. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.41% of the stock is owned by company insiders.

Gentex Price Performance

GNTX traded down $0.17 on Tuesday, hitting $30.02. The company had a trading volume of 262,329 shares, compared to its average volume of 1,462,797. The stock has a fifty day simple moving average of $29.88 and a 200-day simple moving average of $31.89. Gentex Co. has a 52-week low of $28.30 and a 52-week high of $37.58. The firm has a market capitalization of $6.83 billion, a P/E ratio of 16.14, a P/E/G ratio of 0.97 and a beta of 0.91.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were issued a $0.12 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a yield of 1.60%. Gentex’s payout ratio is currently 25.67%.

Analyst Ratings Changes

Several equities research analysts have commented on GNTX shares. UBS Group initiated coverage on shares of Gentex in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price objective for the company. Robert W. Baird increased their price objective on Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. The Goldman Sachs Group lowered their price target on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st. JPMorgan Chase & Co. lowered their price target on Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Finally, B. Riley reduced their price objective on Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Gentex has a consensus rating of “Hold” and a consensus 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.