Jensen Investment Management Inc. Purchases 17,300 Shares of Gentex Co. (NASDAQ:GNTX)

Jensen Investment Management Inc. increased its position in Gentex Co. (NASDAQ:GNTX - Free Report) by 11.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 172,120 shares of the auto parts company's stock after purchasing an additional 17,300 shares during the quarter. Jensen Investment Management Inc. owned approximately 0.07% of Gentex worth $5,110,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TD Asset Management Inc grew its holdings in Gentex by 41.2% during the 1st quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company's stock worth $168,957,000 after acquiring an additional 1,363,898 shares during the period. Cetera Investment Advisers grew its position in shares of Gentex by 91.0% during the 1st quarter. Cetera Investment Advisers now owns 127,876 shares of the auto parts company's stock worth $4,619,000 after buying an additional 60,934 shares during the period. Disciplined Growth Investors Inc. MN increased its stake in shares of Gentex by 1.0% in the 2nd 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 acquiring an additional 43,457 shares during the last quarter. Sei Investments Co. raised its position in shares of Gentex by 6.4% in the 1st quarter. Sei Investments Co. now owns 131,584 shares of the auto parts company's stock valued at $4,753,000 after acquiring an additional 7,935 shares during the period. Finally, Ensign Peak Advisors Inc boosted its stake in Gentex by 56.4% during the 2nd quarter. Ensign Peak Advisors Inc now owns 109,451 shares of the auto parts company's stock worth $3,690,000 after acquiring an additional 39,470 shares during the last quarter. 86.76% of the stock is owned by institutional investors.

Insider Buying and Selling at Gentex

In other Gentex news, major shareholder Corp Gentex bought 3,152,500 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price of $5.00 per share, with a total value of $15,762,500.00. Following the completion of the transaction, the insider now owns 6,463,808 shares in the company, valued at approximately $32,319,040. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.41% of the company's stock.

Gentex Price Performance

Shares of GNTX traded down $0.43 during midday trading on Friday, hitting $30.17. The stock had a trading volume of 1,718,140 shares, compared to its average volume of 1,517,030. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91. The company has a 50 day simple moving average of $29.90 and a two-hundred day simple moving average of $31.95. Gentex Co. has a twelve month low of $28.30 and a twelve month high of $37.58.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Wednesday, October 9th. Gentex's payout ratio is 25.67%.

Analyst Ratings Changes

Several equities research analysts have commented on GNTX shares. UBS Group initiated coverage on shares of Gentex in a research note on Wednesday, September 4th. They issued a "neutral" rating and a $34.00 target price for the company. Robert W. Baird upped their price objective on shares of Gentex from $35.00 to $37.00 and gave the company an "outperform" rating in a research report on Monday, October 28th. B. Riley reduced their target price on Gentex from $44.00 to $41.00 and set a "buy" rating on the stock in a report on Monday, July 29th. BNP Paribas cut Gentex from an "outperform" rating to a "neutral" rating and set a $34.00 target price for the company. in a research note on Tuesday, July 30th. Finally, The Goldman Sachs Group lowered their price target on Gentex from $33.00 to $31.00 and set a "neutral" rating for the company in a report on Tuesday, October 1st. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $36.00.

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.