Readystate Asset Management LP acquired a new stake in shares of Gentex Co. (NASDAQ:GNTX - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 29,342 shares of the auto parts company's stock, valued at approximately $871,000.
A number of other hedge funds have also made changes to their positions in the stock. Quest Partners LLC acquired a new position in Gentex in the second quarter worth approximately $31,000. Gladius Capital Management LP acquired a new position in Gentex in the second quarter worth approximately $34,000. EverSource Wealth Advisors LLC grew its position 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 worth $42,000 after buying an additional 850 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in 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 buying an additional 1,269 shares during the last quarter. Finally, HHM Wealth Advisors LLC acquired a new position in Gentex in the second quarter worth approximately $67,000. Institutional investors and hedge funds own 86.76% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts recently commented on the stock. The Goldman Sachs Group decreased their price objective 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. Bank of America decreased their price objective on shares of Gentex from $39.00 to $35.00 and set a "neutral" rating for the company in a research note on Monday, October 14th. Robert W. Baird raised 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. UBS Group assumed coverage on shares of Gentex in a research note on Wednesday, September 4th. They issued a "neutral" rating and a $34.00 price objective for the company. Finally, Guggenheim decreased their price objective on shares of Gentex from $35.00 to $34.00 and set a "buy" rating for the company in a research note on Thursday, November 21st. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Gentex presently has an average rating of "Hold" and an average target price of $35.13.
View Our Latest Report on GNTX
Gentex Price Performance
Shares of GNTX stock traded down $0.18 on Thursday, hitting $29.89. The company's stock had a trading volume of 237,195 shares, compared to its average volume of 1,439,678. Gentex Co. has a fifty-two week low of $28.30 and a fifty-two week high of $37.58. The firm's fifty day moving average price is $30.04 and its 200-day moving average price is $31.40. The stock has a market capitalization of $6.80 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 1.06 and a beta of 0.91.
Gentex Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, January 8th. This represents a $0.48 annualized dividend and a dividend yield of 1.61%. Gentex's payout ratio is 25.67%.
Gentex Profile
(
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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