Bridgewater Associates LP Has $18.34 Million Stock Holdings in Gentex Co. (NASDAQ:GNTX)

Bridgewater Associates LP boosted its stake in Gentex Co. (NASDAQ:GNTX - Free Report) by 249.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 617,657 shares of the auto parts company's stock after buying an additional 440,725 shares during the quarter. Bridgewater Associates LP owned approximately 0.27% of Gentex worth $18,338,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Quest Partners LLC acquired a new position in shares of Gentex during the 2nd quarter worth $31,000. Gladius Capital Management LP acquired a new position in Gentex during the second quarter worth $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 valued at $42,000 after buying an additional 850 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of 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 worth $54,000 after buying an additional 1,269 shares during the last quarter. Finally, HHM Wealth Advisors LLC bought a new stake in shares of Gentex during the 2nd quarter worth about $67,000. Institutional investors and hedge funds own 86.76% of the company's stock.

Gentex Stock Down 1.0 %

Gentex stock traded down $0.31 during mid-day trading on Thursday, hitting $30.57. 983,881 shares of the company were exchanged, compared to its average volume of 1,451,315. Gentex Co. has a 1-year low of $28.30 and a 1-year high of $37.58. The business has a fifty day moving average of $30.03 and a 200 day moving average of $31.54. The company has a market capitalization of $6.95 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 1.09 and a beta of 0.91.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.57%. The ex-dividend date is Wednesday, January 8th. Gentex's dividend payout ratio is currently 25.67%.

Analyst Ratings Changes

GNTX has been the topic of several analyst reports. Bank of America lowered their price target on Gentex from $39.00 to $35.00 and set a "neutral" rating on the stock in a report on Monday, October 14th. UBS Group started coverage on shares of Gentex in a research note on Wednesday, September 4th. They issued a "neutral" rating and a $34.00 target price on the stock. The Goldman Sachs Group cut their target price on shares of Gentex from $33.00 to $31.00 and set a "neutral" rating for the company in a research report on Tuesday, October 1st. Guggenheim decreased their price target on shares of Gentex from $35.00 to $34.00 and set a "buy" rating for the company in a report on Thursday, November 21st. Finally, Robert W. Baird lifted their price objective on Gentex from $35.00 to $37.00 and gave the stock an "outperform" rating in a research note on Monday, October 28th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus 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.