Geode Capital Management LLC Acquires 285,802 Shares of Gentex Co. (NASDAQ:GNTX)

Geode Capital Management LLC lifted its stake in Gentex Co. (NASDAQ:GNTX - Free Report) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,368,004 shares of the auto parts company's stock after buying an additional 285,802 shares during the period. Geode Capital Management LLC owned approximately 2.36% of Gentex worth $159,406,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Quest Partners LLC bought a new stake in shares of Gentex in the second quarter worth $31,000. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 acquiring an additional 850 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its position in Gentex by 227.8% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company's stock valued at $54,000 after purchasing an additional 1,269 shares during the last quarter. HHM Wealth Advisors LLC acquired a new position in shares of Gentex during the second quarter worth approximately $67,000. Finally, KBC Group NV raised its stake in Gentex by 13.3% during the 3rd quarter. KBC Group NV now owns 5,664 shares of the auto parts company's stock valued at $168,000 after acquiring an additional 667 shares in the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Gentex Stock Down 0.8 %

Shares of GNTX traded down $0.26 during trading hours on Monday, reaching $30.33. The stock had a trading volume of 1,476,823 shares, compared to its average volume of 1,441,232. The company has a market cap of $6.90 billion, a P/E ratio of 16.36, a P/E/G ratio of 1.09 and a beta of 0.91. The firm has a 50-day moving average of $30.13 and a 200 day moving average of $31.19. Gentex Co. has a 52 week low of $28.30 and a 52 week high of $37.58.

Gentex Dividend Announcement

The business also recently announced 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. The ex-dividend date is Wednesday, January 8th. This represents a $0.48 annualized dividend and a yield of 1.58%. Gentex's payout ratio is presently 25.67%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GNTX shares. 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 research report on Monday, October 14th. UBS Group began coverage on shares of Gentex in a research report on Wednesday, September 4th. They issued a "neutral" rating and a $34.00 price target for the company. Robert W. Baird raised their price objective on shares of Gentex from $35.00 to $37.00 and gave the stock an "outperform" rating in a research note on Monday, October 28th. The Goldman Sachs Group reduced their target price on Gentex from $33.00 to $31.00 and set a "neutral" rating for the company in a report on Tuesday, October 1st. Finally, Guggenheim lowered their price target on Gentex from $35.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, November 21st. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price 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.