Harbor Capital Advisors Inc. lifted its stake in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 104.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,506 shares of the auto parts company's stock after acquiring an additional 41,732 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Gentex were worth $2,420,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its holdings in Gentex by 38.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 26,750 shares of the auto parts company's stock worth $966,000 after purchasing an additional 7,449 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Gentex by 3.7% during the first quarter. Private Advisor Group LLC now owns 19,768 shares of the auto parts company's stock worth $714,000 after purchasing an additional 704 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Gentex in the 1st quarter valued at about $196,000. GSA Capital Partners LLP acquired a new stake in shares of Gentex in the first quarter valued at approximately $842,000. Finally, Chevy Chase Trust Holdings LLC grew its position in Gentex by 1.3% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 83,695 shares of the auto parts company's stock worth $3,023,000 after purchasing an additional 1,048 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.
Gentex Price Performance
Shares of GNTX stock traded up $0.24 during trading hours on Tuesday, reaching $30.33. 1,071,073 shares of the company were exchanged, compared to its average volume of 1,462,492. Gentex Co. has a fifty-two week low of $28.30 and a fifty-two week high of $37.58. The company has a market cap of $6.98 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 0.99 and a beta of 0.91. The stock's fifty day moving average is $29.94 and its two-hundred day moving average is $32.01.
Gentex Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.58%. Gentex's dividend payout ratio is 25.67%.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the stock. BNP Paribas lowered shares of Gentex from an "outperform" rating to a "neutral" rating and set a $34.00 target price on the stock. in a research report on Tuesday, July 30th. Bank of America decreased their target price 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. B. Riley cut their price objective on 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 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, The Goldman Sachs Group lowered their price target on Gentex from $33.00 to $31.00 and set a "neutral" rating for the company in a report on Tuesday, October 1st. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Gentex has a consensus rating of "Hold" and a consensus price target of $36.00.
Check Out Our Latest Analysis on GNTX
Insider Transactions at Gentex
In other news, major shareholder Corp Gentex purchased 3,152,500 shares of the business's stock in a transaction on Friday, August 23rd. The stock was purchased at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the completion of the purchase, the insider now directly owns 6,463,808 shares in the company, valued at $32,319,040. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.41% of the stock is currently owned by insiders.
About Gentex
(
Free Report)
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.
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