Commerce Bank raised its position in shares of Gentex Co. (NASDAQ:GNTX – Free Report) by 20.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,468 shares of the auto parts company’s stock after purchasing an additional 2,827 shares during the period. Commerce Bank’s holdings in Gentex were worth $489,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Boston Partners grew its stake in shares of Gentex by 4.2% during the 1st quarter. Boston Partners now owns 5,706,411 shares of the auto parts company’s stock worth $206,095,000 after acquiring an additional 230,873 shares during the period. Burgundy Asset Management Ltd. boosted its position in Gentex by 3.0% during the second quarter. Burgundy Asset Management Ltd. now owns 4,343,880 shares of the auto parts company’s stock worth $146,432,000 after purchasing an additional 126,416 shares during the period. Disciplined Growth Investors Inc. MN increased its stake in shares of Gentex by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 4,259,831 shares of the auto parts company’s stock worth $143,599,000 after purchasing an additional 43,457 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Gentex by 14.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,989,248 shares of the auto parts company’s stock valued at $134,475,000 after purchasing an additional 489,689 shares during the period. Finally, Epoch Investment Partners Inc. raised its position in shares of Gentex by 8.7% in the second quarter. Epoch Investment Partners Inc. now owns 3,222,359 shares of the auto parts company’s stock valued at $108,626,000 after purchasing an additional 259,109 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
GNTX has been the subject of a number of recent research reports. 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. Guggenheim reduced their price target on Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Bank of America decreased their price objective on Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. The Goldman Sachs Group reduced their target price on Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Finally, Robert W. Baird increased their price target 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $35.13.
Gentex Stock Performance
NASDAQ GNTX opened at $30.88 on Wednesday. Gentex Co. has a 52-week low of $28.30 and a 52-week high of $37.58. The company has a fifty day moving average of $29.99 and a 200-day moving average of $31.55. The company has a market capitalization of $7.02 billion, a P/E ratio of 16.51, a P/E/G ratio of 1.07 and a beta of 0.91.
Gentex Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.55%. Gentex’s payout ratio is currently 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.
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