Swiss National Bank Lowers Holdings in Gentex Co. (NASDAQ:GNTX)

Swiss National Bank reduced its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 451,300 shares of the auto parts company’s stock after selling 3,900 shares during the period. Swiss National Bank owned about 0.20% of Gentex worth $13,399,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Quest Partners LLC acquired a new position in shares of Gentex in the second quarter worth $31,000. Gladius Capital Management LP purchased a new stake in Gentex during the 2nd quarter worth about $34,000. EverSource Wealth Advisors LLC raised its position in Gentex by 173.1% in 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Gentex by 227.8% in 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 buying an additional 1,269 shares during the period. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Gentex during the second quarter worth about $67,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Stock Performance

Shares of Gentex stock opened at $30.40 on Friday. The company has a market capitalization of $6.91 billion, a P/E ratio of 16.26, a PEG ratio of 0.97 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 fifty day moving average is $29.92 and its two-hundred day moving average is $31.63.

Gentex Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Guggenheim reduced their target price on shares of Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday. The Goldman Sachs Group reduced their price objective 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. Bank of America decreased their price objective on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. UBS Group initiated coverage on Gentex in a report on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 target price on the stock. Finally, B. Riley decreased their price target on Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a report on Monday, July 29th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Gentex presently has an average rating of “Hold” and a consensus price target of $35.13.

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.