Centiva Capital LP Makes New $806,000 Investment in Gentex Co. (NASDAQ:GNTX)

Centiva Capital LP acquired a new stake in Gentex Co. (NASDAQ:GNTX - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,134 shares of the auto parts company's stock, valued at approximately $806,000.

Several other hedge funds also recently added to or reduced their stakes in GNTX. Cetera Investment Advisers increased its position in shares of Gentex by 91.0% during the first quarter. Cetera Investment Advisers now owns 127,876 shares of the auto parts company's stock valued at $4,619,000 after acquiring an additional 60,934 shares during the last quarter. GAMMA Investing LLC increased its holdings in Gentex by 46.4% in the 2nd quarter. GAMMA Investing LLC now owns 2,551 shares of the auto parts company's stock valued at $86,000 after purchasing an additional 809 shares during the last quarter. CWM LLC raised its position in Gentex by 7.3% in the second quarter. CWM LLC now owns 10,265 shares of the auto parts company's stock valued at $346,000 after purchasing an additional 695 shares during the period. Simplicity Wealth LLC lifted its stake in Gentex by 5.0% during the second quarter. Simplicity Wealth LLC now owns 28,975 shares of the auto parts company's stock worth $977,000 after purchasing an additional 1,387 shares in the last quarter. Finally, QRG Capital Management Inc. purchased a new position in shares of Gentex during the second quarter worth $205,000. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GNTX. Guggenheim cut their price objective on Gentex from $35.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, November 21st. The Goldman Sachs Group cut 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. Robert W. Baird raised their price objective on shares of Gentex from $35.00 to $37.00 and gave the company an "outperform" rating in a research note on Monday, October 28th. UBS Group began coverage on shares of Gentex in a research note on Wednesday, September 4th. They set a "neutral" rating and a $34.00 target price on the stock. Finally, Bank of America decreased their price target 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. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $35.13.

Gentex Stock Up 0.0 %

Shares of NASDAQ GNTX traded up $0.01 during mid-day trading on Friday, hitting $29.76. 940,120 shares of the company were exchanged, compared to its average volume of 1,162,214. Gentex Co. has a 1-year low of $28.30 and a 1-year high of $37.58. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 1.06 and a beta of 0.91. The stock has a 50 day simple moving average of $29.99 and a 200-day simple moving average of $31.33.

Gentex Announces Dividend

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 issued a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $0.48 annualized dividend and a yield of 1.61%. Gentex's dividend payout ratio is currently 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.