Wilmington Savings Fund Society FSB Invests $125,000 in Gentex Co. (NASDAQ:GNTX)

Wilmington Savings Fund Society FSB acquired a new stake in Gentex Co. (NASDAQ:GNTX) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,209 shares of the auto parts company’s stock, valued at approximately $125,000.

A number of other hedge funds have also made changes to their positions in GNTX. Lindenwold Advisors INC boosted its stake in Gentex by 2.8% in the third quarter. Lindenwold Advisors INC now owns 12,539 shares of the auto parts company’s stock valued at $372,000 after acquiring an additional 347 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in shares of Gentex by 5.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,446 shares of the auto parts company’s stock valued at $221,000 after purchasing an additional 408 shares during the period. United Services Automobile Association grew its stake in Gentex by 2.5% during the 2nd quarter. United Services Automobile Association now owns 17,447 shares of the auto parts company’s stock worth $588,000 after buying an additional 427 shares during the last quarter. Harfst & Associates Inc. increased its position in Gentex by 0.7% during the second quarter. Harfst & Associates Inc. now owns 66,692 shares of the auto parts company’s stock worth $2,248,000 after buying an additional 450 shares during the period. Finally, Intellectus Partners LLC lifted its stake in Gentex by 6.1% in the third quarter. Intellectus Partners LLC now owns 8,452 shares of the auto parts company’s stock valued at $251,000 after buying an additional 484 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on GNTX. The Goldman Sachs Group cut their target price on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Guggenheim lowered their price objective on shares of Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Robert W. Baird upped their target price on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, October 28th. UBS Group initiated coverage on Gentex in a report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price target on the stock. Finally, Bank of America dropped their price target on Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $35.13.

Gentex Stock Down 0.6 %

Shares of NASDAQ:GNTX opened at $29.13 on Friday. The company has a 50-day moving average price of $30.19 and a 200 day moving average price of $31.09. Gentex Co. has a 52 week low of $28.30 and a 52 week high of $37.58. The company has a market cap of $6.63 billion, a P/E ratio of 15.58, a PEG ratio of 1.09 and a beta of 0.91.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.65%. Gentex’s dividend payout ratio (DPR) is presently 25.67%.

About Gentex

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.