Allspring Global Investments Holdings LLC Boosts Holdings in Gentex Co. (NASDAQ:GNTX)

Allspring Global Investments Holdings LLC boosted its stake in Gentex Co. (NASDAQ:GNTX - Free Report) by 53.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 905,080 shares of the auto parts company's stock after purchasing an additional 315,164 shares during the period. Allspring Global Investments Holdings LLC owned about 0.39% of Gentex worth $26,872,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quest Partners LLC bought a new position in Gentex in the 2nd quarter valued at approximately $31,000. Gladius Capital Management LP acquired a new position in Gentex in the 2nd quarter valued at approximately $34,000. EverSource Wealth Advisors LLC increased its position in Gentex by 173.1% in the 2nd 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. increased 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 acquiring an additional 1,269 shares during the period. Finally, HHM Wealth Advisors LLC acquired a new position in Gentex in the 2nd quarter valued at approximately $67,000. Institutional investors own 86.76% of the company's stock.

Insiders Place Their Bets

In other Gentex news, major shareholder Corp Gentex acquired 3,152,500 shares of the company's stock in a transaction on Friday, August 23rd. The shares were purchased 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 approximately $32,319,040. This 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 link. Corporate insiders own 0.41% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on GNTX shares. Bank of America decreased their price target on shares of Gentex from $39.00 to $35.00 and set a "neutral" rating for the company in a research report on Monday, October 14th. Robert W. Baird decreased their price target on shares of 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 shares of Gentex in a research report on Wednesday, September 4th. They set a "neutral" rating and a $34.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on shares of Gentex from $36.00 to $35.00 and set a "neutral" rating for the company in a research report on Monday, July 22nd. Finally, B. Riley decreased their price objective on shares of Gentex from $44.00 to $41.00 and set a "buy" rating for the company in a research report on Monday, July 29th. 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 company has an average rating of "Hold" and a consensus target price of $36.13.

Gentex Stock Up 0.5 %

NASDAQ:GNTX traded up $0.14 during trading hours on Thursday, reaching $29.66. The company had a trading volume of 1,875,344 shares, compared to its average volume of 1,447,087. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 0.95 and a beta of 0.92. The business's 50-day simple moving average is $29.90 and its two-hundred day simple moving average is $32.27. Gentex Co. has a twelve month low of $27.86 and a twelve month high of $37.58.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its quarterly 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). The company had revenue of $572.93 million during the quarter, compared to analyst estimates of $623.28 million. Gentex had a return on equity of 17.78% and a net margin of 17.87%. As a group, equities analysts predict that Gentex Co. will post 1.96 earnings per share for the current year.

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Wednesday, October 9th. Gentex's payout ratio is 25.40%.

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.