Oak Thistle LLC Purchases New Holdings in Gentex Co. (NASDAQ:GNTX)

Oak Thistle LLC bought a new position in shares of Gentex Co. (NASDAQ:GNTX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 34,391 shares of the auto parts company's stock, valued at approximately $988,000.

Several other large investors have also recently bought and sold shares of GNTX. JPMorgan Chase & Co. grew its holdings in shares of Gentex by 179.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company's stock worth $59,404,000 after purchasing an additional 1,285,519 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Gentex by 14.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,989,248 shares of the auto parts company's stock worth $134,475,000 after purchasing an additional 489,689 shares during the period. Bridgewater Associates LP boosted its stake in Gentex by 249.1% during the third quarter. Bridgewater Associates LP now owns 617,657 shares of the auto parts company's stock worth $18,338,000 after buying an additional 440,725 shares in the last quarter. Citigroup Inc. increased its holdings in Gentex by 327.8% in the 3rd quarter. Citigroup Inc. now owns 483,842 shares of the auto parts company's stock valued at $14,365,000 after buying an additional 370,746 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Gentex by 53.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 905,080 shares of the auto parts company's stock valued at $26,872,000 after buying an additional 315,164 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GNTX shares. Robert W. Baird lifted their target price on shares of Gentex from $35.00 to $37.00 and gave the company an "outperform" rating in a research report on Monday, October 28th. Guggenheim decreased their price objective on Gentex from $35.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, November 21st. The Goldman Sachs Group dropped their target price on Gentex from $33.00 to $31.00 and set a "neutral" rating for the company in a report on Tuesday, October 1st. Finally, Bank of America decreased their price target on Gentex from $39.00 to $35.00 and set a "neutral" rating on the stock in a research note on Monday, October 14th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $35.13.

Gentex Trading Up 0.3 %

NASDAQ GNTX traded up $0.08 during trading hours on Thursday, reaching $27.50. 896,402 shares of the company's stock were exchanged, compared to its average volume of 1,546,688. The firm has a fifty day moving average of $29.54 and a 200-day moving average of $30.31. Gentex Co. has a one year low of $26.58 and a one year high of $37.58. The stock has a market cap of $6.25 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 0.83 and a beta of 0.91.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.75%. Gentex's dividend payout ratio (DPR) is presently 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.