Gentex Co. (NASDAQ:GNTX) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its holdings in Gentex Co. (NASDAQ:GNTX) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 104,287 shares of the auto parts company’s stock after buying an additional 1,440 shares during the period. State of Alaska Department of Revenue’s holdings in Gentex were worth $3,096,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Scharf Investments LLC lifted its stake in shares of Gentex by 36,001.4% in the 2nd quarter. Scharf Investments LLC now owns 2,278,357 shares of the auto parts company’s stock valued at $76,803,000 after purchasing an additional 2,272,046 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of Gentex by 41.2% in the 1st quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock valued at $168,957,000 after purchasing an additional 1,363,898 shares in the last quarter. Motley Fool Asset Management LLC lifted its stake in shares of Gentex by 287.7% in the 1st quarter. Motley Fool Asset Management LLC now owns 1,204,152 shares of the auto parts company’s stock valued at $43,494,000 after purchasing an additional 893,552 shares in the last quarter. Epoch Investment Partners Inc. lifted its stake in shares of Gentex by 32.6% in the 1st quarter. Epoch Investment Partners Inc. now owns 2,963,250 shares of the auto parts company’s stock valued at $107,033,000 after purchasing an additional 727,913 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Gentex by 14.0% in the 2nd 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 in the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Corp Gentex purchased 3,152,500 shares of the stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $5.00 per share, for a total transaction of $15,762,500.00. Following the acquisition, the insider now owns 6,463,808 shares of the company’s stock, valued at $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 is accessible through this link. 0.41% of the stock is owned by company insiders.

Gentex Stock Down 0.7 %

GNTX stock opened at $31.11 on Thursday. Gentex Co. has a 52-week low of $28.25 and a 52-week high of $37.58. The stock’s 50 day moving average is $29.99 and its two-hundred day moving average is $32.12. The company has a market capitalization of $7.19 billion, a PE ratio of 16.46, a P/E/G ratio of 0.91 and a beta of 0.92.

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, October 9th. This represents a $0.48 annualized dividend and a yield of 1.54%. Gentex’s dividend payout ratio is presently 25.40%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GNTX shares. The Goldman Sachs Group reduced their price objective on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. JPMorgan Chase & Co. reduced 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. Bank of America reduced 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. Robert W. Baird boosted their price target on Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, BNP Paribas lowered Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research report on Tuesday, July 30th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Gentex has a consensus rating of “Hold” and a consensus price target of $36.00.

Gentex 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.