Janney Montgomery Scott LLC Acquires 59,784 Shares of Gentex Co. (NASDAQ:GNTX)

Janney Montgomery Scott LLC boosted its stake in Gentex Co. (NASDAQ:GNTX - Free Report) by 4.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,330,830 shares of the auto parts company's stock after purchasing an additional 59,784 shares during the quarter. Janney Montgomery Scott LLC owned about 0.58% of Gentex worth $39,512,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Quest Partners LLC bought a new position in shares of Gentex during the second quarter worth $31,000. Gladius Capital Management LP bought a new position in Gentex during the second quarter worth about $34,000. EverSource Wealth Advisors LLC grew its stake in Gentex by 173.1% in 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. increased its holdings in shares of Gentex by 227.8% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company's stock worth $54,000 after acquiring an additional 1,269 shares in the last quarter. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Gentex during the second quarter worth about $67,000. Institutional investors and hedge funds own 86.76% of the company's stock.

Gentex Price Performance

Gentex stock traded down $0.44 during trading hours on Monday, hitting $30.09. The company had a trading volume of 1,523,793 shares, compared to its average volume of 1,464,330. The firm has a 50-day moving average of $29.97 and a 200 day moving average of $32.06. The firm has a market cap of $6.93 billion, a PE ratio of 16.33, a PEG ratio of 0.98 and a beta of 0.91. Gentex Co. has a one year low of $28.30 and a one year high of $37.58.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.60%. Gentex's dividend payout ratio (DPR) is currently 25.67%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Bank of America cut their price objective on shares of Gentex from $39.00 to $35.00 and set a "neutral" rating on the stock in a research report on Monday, October 14th. BNP Paribas lowered Gentex from an "outperform" rating to a "neutral" rating and set a $34.00 price target on the stock. in a research report on Tuesday, July 30th. JPMorgan Chase & Co. cut their price objective on Gentex from $36.00 to $35.00 and set a "neutral" rating for the company in a report on Monday, July 22nd. Robert W. Baird boosted 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. Finally, The Goldman Sachs Group cut their target price on shares of Gentex from $33.00 to $31.00 and set a "neutral" rating for the company in a research note on Tuesday, October 1st. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $36.00.

Insider Buying and Selling

In other Gentex news, major shareholder Corp Gentex bought 3,152,500 shares of Gentex stock in a transaction dated Friday, August 23rd. The stock was bought 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 $32,319,040. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.41% of the stock is currently owned by insiders.

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.