GAMMA Investing LLC Grows Position in Gentex Co. (NASDAQ:GNTX)

GAMMA Investing LLC lifted its stake in Gentex Co. (NASDAQ:GNTX) by 159.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,133 shares of the auto parts company’s stock after purchasing an additional 3,152 shares during the quarter. GAMMA Investing LLC’s holdings in Gentex were worth $147,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. raised its position in shares of Gentex by 179.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company’s stock valued at $59,404,000 after buying an additional 1,285,519 shares during the period. Geode Capital Management LLC grew its stake in shares of Gentex by 5.6% in the third quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company’s stock worth $159,406,000 after acquiring an additional 285,802 shares in the last quarter. Barclays PLC increased its holdings in Gentex by 54.4% during the 3rd quarter. Barclays PLC now owns 107,930 shares of the auto parts company’s stock worth $3,205,000 after purchasing an additional 38,027 shares during the period. Disciplined Growth Investors Inc. MN increased its stake in shares of Gentex by 1.0% during the second quarter. Disciplined Growth Investors Inc. MN now owns 4,259,831 shares of the auto parts company’s stock worth $143,599,000 after buying an additional 43,457 shares during the period. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Gentex by 10.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 392,445 shares of the auto parts company’s stock valued at $11,651,000 after purchasing an additional 36,134 shares in the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GNTX has been the subject of several analyst reports. Guggenheim lowered their price objective on Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Robert W. Baird upped their price target on Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, October 28th. The Goldman Sachs Group dropped their price target on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. Finally, Bank of America lowered their target price on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $35.13.

Gentex Price Performance

Shares of Gentex stock opened at $27.18 on Friday. The firm’s fifty day simple moving average is $29.74 and its 200-day simple moving average is $30.50. Gentex Co. has a 12 month low of $27.02 and a 12 month high of $37.58. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 1.08 and a beta of 0.91.

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.77%. The ex-dividend date is Wednesday, January 8th. Gentex’s dividend payout ratio (DPR) is presently 25.67%.

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.