Assenagon Asset Management S.A. Has $2.26 Million Stock Holdings in Gentex Co. (NASDAQ:GNTX)

Assenagon Asset Management S.A. increased its position in Gentex Co. (NASDAQ:GNTX) by 24.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,016 shares of the auto parts company’s stock after buying an additional 15,145 shares during the period. Assenagon Asset Management S.A.’s holdings in Gentex were worth $2,257,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in Gentex during the 2nd quarter valued at about $31,000. Gladius Capital Management LP acquired a new position in Gentex during the 2nd quarter valued at about $34,000. EverSource Wealth Advisors LLC boosted its stake in Gentex by 173.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock valued at $42,000 after purchasing an additional 850 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Gentex by 227.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock valued at $54,000 after purchasing an additional 1,269 shares during the last quarter. Finally, HHM Wealth Advisors LLC acquired a new position in Gentex during the 2nd quarter valued at about $67,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GNTX. UBS Group began coverage on Gentex in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 target price on the stock. B. Riley lowered their price target on shares of Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Monday, July 29th. JPMorgan Chase & Co. lowered their price target on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. The Goldman Sachs Group lowered their price target 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. Finally, Robert W. Baird lifted 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. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $36.00.

Gentex Price Performance

NASDAQ:GNTX opened at $30.31 on Friday. The company has a market cap of $6.98 billion, a P/E ratio of 16.21, a P/E/G ratio of 0.91 and a beta of 0.92. The stock’s fifty day moving average price is $29.98 and its two-hundred day moving average price is $32.11. Gentex Co. has a 1 year low of $28.25 and a 1 year high of $37.58.

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were given a $0.12 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.58%. Gentex’s dividend payout ratio (DPR) is presently 25.67%.

Insider Buying and Selling

In other news, major shareholder Corp Gentex bought 3,152,500 shares of Gentex stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average price of $5.00 per share, with a total value of $15,762,500.00. Following the completion of the purchase, the insider now directly owns 6,463,808 shares in the company, valued at $32,319,040. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.41% of the stock is currently owned by company insiders.

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.