17,076 Shares in Gentex Co. (NASDAQ:GNTX) Acquired by MQS Management LLC

MQS Management LLC acquired a new stake in Gentex Co. (NASDAQ:GNTX - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 17,076 shares of the auto parts company's stock, valued at approximately $507,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Cetera Investment Advisers increased its holdings in Gentex by 91.0% during the 1st 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 in the last quarter. Disciplined Growth Investors Inc. MN grew its holdings in shares of Gentex by 1.0% during the second quarter. Disciplined Growth Investors Inc. MN now owns 4,259,831 shares of the auto parts company's stock worth $143,599,000 after buying an additional 43,457 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Gentex by 6.4% during the first quarter. Sei Investments Co. now owns 131,584 shares of the auto parts company's stock worth $4,753,000 after buying an additional 7,935 shares in the last quarter. Ensign Peak Advisors Inc grew its holdings in shares of Gentex by 56.4% during the second quarter. Ensign Peak Advisors Inc now owns 109,451 shares of the auto parts company's stock worth $3,690,000 after buying an additional 39,470 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Gentex during the second quarter worth about $1,037,000. Institutional investors and hedge funds own 86.76% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Robert W. Baird boosted their target price on shares of Gentex from $35.00 to $37.00 and gave the company an "outperform" rating in a report on Monday, October 28th. UBS Group assumed 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. BNP Paribas downgraded shares of Gentex from an "outperform" rating to a "neutral" rating and set a $34.00 target price for the company. in a report on Tuesday, July 30th. The Goldman Sachs Group lowered their target price 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. Finally, B. Riley lowered their target price on shares of Gentex from $44.00 to $41.00 and set a "buy" rating for the company in a report on Monday, July 29th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $36.00.

Insider Buying and Selling

In other news, major shareholder Corp Gentex acquired 3,152,500 shares of Gentex stock in a transaction on Friday, August 23rd. The stock was bought at an average cost of $5.00 per share, with a total value of $15,762,500.00. Following the completion of the purchase, the insider now owns 6,463,808 shares of the company's stock, valued at $32,319,040. This represents a 95.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.41% of the company's stock.

Gentex Stock Performance

Shares of Gentex stock traded down $0.26 during trading on Thursday, hitting $30.38. 1,188,933 shares of the stock were exchanged, compared to its average volume of 1,466,670. The stock's fifty day moving average is $29.87 and its 200 day moving average is $31.85. The stock has a market cap of $6.91 billion, a PE ratio of 16.39, a P/E/G ratio of 0.98 and a beta of 0.91. Gentex Co. has a 12 month low of $28.30 and a 12 month high of $37.58.

Gentex Announces Dividend

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 $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Wednesday, October 9th. Gentex's payout ratio is currently 25.67%.

Gentex 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.