Handelsbanken Fonder AB Grows Holdings in Gentex Co. (NASDAQ:GNTX)

Handelsbanken Fonder AB raised its position in Gentex Co. (NASDAQ:GNTX - Free Report) by 60.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,966 shares of the auto parts company's stock after acquiring an additional 28,200 shares during the quarter. Handelsbanken Fonder AB's holdings in Gentex were worth $2,226,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Phoenix Wealth Advisors boosted its holdings in Gentex by 3.1% in the second quarter. Phoenix Wealth Advisors now owns 10,196 shares of the auto parts company's stock valued at $344,000 after acquiring an additional 306 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Gentex by 26.3% during the first quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company's stock valued at $63,000 after buying an additional 363 shares during the period. Toronto Dominion Bank raised its stake in Gentex by 0.9% in the first quarter. Toronto Dominion Bank now owns 42,346 shares of the auto parts company's stock worth $1,530,000 after buying an additional 370 shares in the last quarter. JLB & Associates Inc. lifted its holdings in Gentex by 1.7% in the first quarter. JLB & Associates Inc. now owns 24,381 shares of the auto parts company's stock worth $881,000 after buying an additional 416 shares during the period. Finally, United Services Automobile Association boosted its position in Gentex by 2.5% during the 2nd quarter. United Services Automobile Association now owns 17,447 shares of the auto parts company's stock valued at $588,000 after acquiring an additional 427 shares in the last quarter. 86.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Gentex news, major shareholder Corp Gentex acquired 3,152,500 shares of the stock in a transaction dated Friday, August 23rd. The shares were purchased at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the purchase, the insider now directly owns 6,463,808 shares of the company's stock, 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 filing with the SEC, which is accessible through this link. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GNTX shares. Robert W. Baird decreased their target price on Gentex from $40.00 to $38.00 and set an "outperform" rating for the company in a research report on Monday, July 29th. UBS Group assumed coverage on Gentex in a research report on Wednesday, September 4th. They set a "neutral" rating and a $34.00 price objective for the company. B. Riley reduced their target price on shares of Gentex from $44.00 to $41.00 and set a "buy" rating on the stock in a research report on Monday, July 29th. JPMorgan Chase & Co. decreased their price target on shares of Gentex from $36.00 to $35.00 and set a "neutral" rating for the company in a research note on Monday, July 22nd. Finally, The Goldman Sachs Group dropped their price objective on shares of Gentex from $33.00 to $31.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 1st. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $36.29.

Gentex Price Performance

Gentex stock traded up $0.35 during mid-day trading on Thursday, reaching $29.24. The stock had a trading volume of 1,475,577 shares, compared to its average volume of 1,459,175. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 0.99 and a beta of 0.92. Gentex Co. has a one year low of $27.86 and a one year high of $37.58. The company has a 50-day moving average price of $29.82 and a two-hundred day moving average price of $32.73.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its earnings results on Friday, July 26th. The auto parts company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.15). Gentex had a return on equity of 17.78% and a net margin of 17.87%. The business had revenue of $572.93 million during the quarter, compared to the consensus estimate of $623.28 million. On average, equities research analysts anticipate that Gentex Co. will post 1.96 earnings per share for the current fiscal year.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a yield of 1.64%. Gentex's dividend payout ratio (DPR) is 25.40%.

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.