First Citizens Bank & Trust Co. Boosts Stake in Gentex Co. (NASDAQ:GNTX)

First Citizens Bank & Trust Co. boosted its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,388 shares of the auto parts company’s stock after acquiring an additional 1,081 shares during the period. First Citizens Bank & Trust Co.’s holdings in Gentex were worth $557,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in shares of Gentex by 179.7% in the third quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company’s stock valued at $59,404,000 after purchasing an additional 1,285,519 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Gentex by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company’s stock worth $159,406,000 after acquiring an additional 285,802 shares during the last quarter. Barclays PLC raised its holdings in shares of Gentex by 54.4% during the 3rd quarter. Barclays PLC now owns 107,930 shares of the auto parts company’s stock worth $3,205,000 after acquiring an additional 38,027 shares during the period. Reinhart Partners LLC. boosted its position in shares of Gentex by 1.9% during the 4th quarter. Reinhart Partners LLC. now owns 1,124,403 shares of the auto parts company’s stock valued at $32,304,000 after acquiring an additional 20,624 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of Gentex by 10.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 392,445 shares of the auto parts company’s stock valued at $11,651,000 after acquiring an additional 36,134 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Wall Street Analyst Weigh In

GNTX has been the subject of several analyst reports. Robert W. Baird increased their price target on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Bank of America reduced their target price on Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. The Goldman Sachs Group lowered 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. Finally, Guggenheim reduced their price objective on shares of Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $35.13.

Gentex Stock Performance

NASDAQ GNTX opened at $28.48 on Tuesday. Gentex Co. has a one year low of $26.58 and a one year high of $37.58. The firm has a 50 day simple moving average of $29.14 and a 200-day simple moving average of $29.99. The firm has a market cap of $6.48 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 0.87 and a beta of 0.91.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th were paid a $0.12 dividend. The ex-dividend date was Wednesday, January 8th. This represents a $0.48 annualized dividend and a dividend yield of 1.69%. Gentex’s dividend payout ratio (DPR) is 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.