Connor Clark & Lunn Investment Management Ltd. Raises Holdings in Gentex Co. (NASDAQ:GNTX)

Connor Clark & Lunn Investment Management Ltd. boosted its position in Gentex Co. (NASDAQ:GNTX - Free Report) by 155.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 136,020 shares of the auto parts company's stock after acquiring an additional 82,701 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.06% of Gentex worth $4,038,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in shares of Gentex during the 2nd quarter worth about $31,000. Gladius Capital Management LP purchased a new position in Gentex in the second quarter valued at approximately $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 worth $42,000 after purchasing an additional 850 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Gentex by 227.8% during the 3rd 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 acquired a new position in shares of Gentex in the 2nd quarter valued at $67,000. Hedge funds and other institutional investors own 86.76% of the company's stock.

Gentex Price Performance

Shares of GNTX stock traded up $0.52 during trading hours on Friday, reaching $30.40. 939,959 shares of the company's stock were exchanged, compared to its average volume of 1,566,252. The company's 50 day moving average is $29.92 and its two-hundred day moving average is $31.61. The company has a market cap of $6.91 billion, a P/E ratio of 16.26, a price-to-earnings-growth 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.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Wednesday, October 9th. Gentex's dividend payout ratio is currently 25.67%.

Wall Street Analysts Forecast Growth

GNTX has been the subject of a number of research reports. B. Riley reduced their price objective on Gentex from $44.00 to $41.00 and set a "buy" rating for the company in a research note on Monday, July 29th. UBS Group assumed coverage on shares of Gentex in a research note on Wednesday, September 4th. They set a "neutral" rating and a $34.00 price target for the company. Bank of America dropped their price objective on shares of Gentex from $39.00 to $35.00 and set a "neutral" rating on the stock in a research note on Monday, October 14th. The Goldman Sachs Group dropped their price target on Gentex from $33.00 to $31.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 1st. Finally, Guggenheim decreased 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. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $35.13.

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.