Gentex Co. (NASDAQ:GNTX) Shares Bought by Financial Advocates Investment Management

Financial Advocates Investment Management lifted its stake in shares of Gentex Co. (NASDAQ:GNTX) by 6.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 11,684 shares of the auto parts company’s stock after buying an additional 676 shares during the quarter. Financial Advocates Investment Management’s holdings in Gentex were worth $347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Quest Partners LLC purchased a new position in Gentex during the 2nd quarter worth $31,000. Gladius Capital Management LP purchased a new position in Gentex during the second quarter worth about $34,000. EverSource Wealth Advisors LLC raised its holdings in Gentex by 173.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock worth $42,000 after purchasing an additional 850 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in Gentex by 227.8% in the third 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 period. Finally, HHM Wealth Advisors LLC acquired a new position in Gentex during the 2nd quarter worth approximately $67,000. 86.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GNTX. BNP Paribas downgraded Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research note on Tuesday, July 30th. UBS Group started coverage on shares of Gentex in a research report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price target for the company. Robert W. Baird upped their target price on Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Bank of America dropped their price target on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. cut their target price on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.00.

Insider Activity at Gentex

In other Gentex news, major shareholder Corp Gentex purchased 3,152,500 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of $5.00 per share, with a total value of $15,762,500.00. Following the purchase, the insider now owns 6,463,808 shares in the company, valued at approximately $32,319,040. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.41% of the company’s stock.

Gentex Stock Performance

Shares of GNTX opened at $30.53 on Monday. The company has a market capitalization of $7.03 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 0.98 and a beta of 0.91. Gentex Co. has a 1 year low of $28.30 and a 1 year high of $37.58. The company’s 50 day simple moving average is $29.97 and its 200 day simple moving average is $32.06.

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Wednesday, October 9th. Gentex’s dividend payout ratio (DPR) is 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.