Mutual of America Capital Management LLC Decreases Stake in Gentex Co. (NASDAQ:GNTX)

Mutual of America Capital Management LLC lowered its stake in Gentex Co. (NASDAQ:GNTX - Free Report) by 2.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 188,716 shares of the auto parts company's stock after selling 3,963 shares during the period. Mutual of America Capital Management LLC owned 0.08% of Gentex worth $5,290,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Gentex by 0.4% during the third quarter. Vanguard Group Inc. now owns 23,483,145 shares of the auto parts company's stock worth $559,838,000 after purchasing an additional 93,928 shares during the last quarter. BlackRock Inc. increased its holdings in Gentex by 0.9% in the first quarter. BlackRock Inc. now owns 20,990,163 shares of the auto parts company's stock valued at $612,282,000 after buying an additional 190,797 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in Gentex by 99,783.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,630,950 shares of the auto parts company's stock valued at $235,366,000 after buying an additional 8,622,309 shares in the last quarter. Ariel Investments LLC increased its holdings in Gentex by 92.4% in the first quarter. Ariel Investments LLC now owns 8,174,011 shares of the auto parts company's stock valued at $238,436,000 after buying an additional 3,925,355 shares in the last quarter. Finally, State Street Corp increased its holdings in Gentex by 3.8% in the third quarter. State Street Corp now owns 6,592,791 shares of the auto parts company's stock valued at $157,172,000 after buying an additional 238,753 shares in the last quarter. Hedge funds and other institutional investors own 84.96% of the company's stock.

In other news, Director Kathleen Starkoff sold 4,430 shares of the business's stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $33.20, for a total value of $147,076.00. Following the sale, the director now directly owns 21,441 shares of the company's stock, valued at approximately $711,841.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director James A. Hollars sold 4,416 shares of the company's stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $28.27, for a total transaction of $124,840.32. Following the sale, the director now directly owns 36,149 shares of the company's stock, valued at approximately $1,021,932.23. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kathleen Starkoff sold 4,430 shares of the company's stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $33.20, for a total transaction of $147,076.00. Following the sale, the director now directly owns 21,441 shares in the company, valued at $711,841.20. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by company insiders.

A number of research analysts have weighed in on the stock. B. Riley lifted their price objective on shares of Gentex from $35.00 to $40.00 and gave the company a "buy" rating in a report on Monday. Robert W. Baird lifted their target price on shares of Gentex from $35.00 to $37.00 and gave the company an "outperform" rating in a research report on Monday. Bank of America upgraded shares of Gentex from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $26.00 to $33.00 in a research report on Thursday, July 6th. StockNews.com started coverage on shares of Gentex in a research report on Thursday, May 18th. They issued a "buy" rating on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of Gentex from $28.00 to $30.00 and gave the company a "neutral" rating in a research report on Thursday, July 20th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $32.50.

Check Out Our Latest Report on Gentex

GNTX opened at $33.90 on Friday. The firm has a market capitalization of $7.92 billion, a PE ratio of 21.59, a PEG ratio of 0.86 and a beta of 0.95. Gentex Co. has a twelve month low of $23.28 and a twelve month high of $34.10. The firm's 50-day moving average price is $29.44 and its 200 day moving average price is $28.41.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 19th. Investors of record on Friday, July 7th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. Gentex's payout ratio is presently 30.57%.

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, 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.

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