Chevy Chase Trust Holdings LLC Grows Stock Position in Gentex Co. (NASDAQ:GNTX)

Chevy Chase Trust Holdings LLC boosted its stake in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 148.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 198,763 shares of the auto parts company's stock after acquiring an additional 118,781 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.09% of Gentex worth $5,901,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of GNTX. Burgundy Asset Management Ltd. increased its position in Gentex by 3.0% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,343,880 shares of the auto parts company's stock worth $146,432,000 after purchasing an additional 126,416 shares during the period. Disciplined Growth Investors Inc. MN boosted its stake in shares of Gentex by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 4,259,831 shares of the auto parts company's stock valued at $143,599,000 after buying an additional 43,457 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Gentex by 14.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,989,248 shares of the auto parts company's stock worth $134,475,000 after acquiring an additional 489,689 shares during the period. Epoch Investment Partners Inc. raised its position in Gentex by 8.7% in the second quarter. Epoch Investment Partners Inc. now owns 3,222,359 shares of the auto parts company's stock worth $108,626,000 after acquiring an additional 259,109 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Gentex by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 2,672,123 shares of the auto parts company's stock valued at $90,077,000 after acquiring an additional 72,599 shares during the period. 86.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group cut their price target on shares of Gentex from $33.00 to $31.00 and set a "neutral" rating for the company in a report on Tuesday, October 1st. UBS Group initiated coverage on shares of Gentex in a report on Wednesday, September 4th. They issued a "neutral" rating and a $34.00 target price for the company. Guggenheim decreased their price target on Gentex from $35.00 to $34.00 and set a "buy" rating on the stock in a research note on Thursday, November 21st. Robert W. Baird raised their price objective on Gentex from $35.00 to $37.00 and gave the company an "outperform" rating in a research note on Monday, October 28th. Finally, Bank of America decreased their price objective on shares of Gentex from $39.00 to $35.00 and set a "neutral" rating on the stock in a research report on Monday, October 14th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $35.13.

Gentex Stock Performance

Gentex stock traded up $0.01 during midday trading on Friday, reaching $29.76. 896,001 shares of the company were exchanged, compared to its average volume of 1,440,642. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 1.06 and a beta of 0.91. The firm's 50-day simple moving average is $30.01 and its 200-day simple moving average is $31.38. Gentex Co. has a 1 year low of $28.30 and a 1 year high of $37.58.

Gentex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Wednesday, January 8th. Gentex's dividend payout ratio 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.