Thrivent Financial for Lutherans Grows Position in Gentex Co. (NASDAQ:GNTX)

Thrivent Financial for Lutherans increased its stake in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 10.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 392,445 shares of the auto parts company's stock after acquiring an additional 36,134 shares during the quarter. Thrivent Financial for Lutherans owned about 0.17% of Gentex worth $11,651,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in shares of Gentex during the second quarter worth about $31,000. Gladius Capital Management LP acquired a new position in Gentex during the second quarter worth approximately $34,000. EverSource Wealth Advisors LLC lifted 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 buying an additional 850 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted 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 valued at $54,000 after acquiring an additional 1,269 shares during the period. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Gentex in the second quarter valued at approximately $67,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on GNTX shares. Guggenheim reduced their price target on shares of Gentex from $35.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday. B. Riley reduced their target price on shares of Gentex from $44.00 to $41.00 and set a "buy" rating for the company in a report on Monday, July 29th. The Goldman Sachs Group lowered their price target on Gentex from $33.00 to $31.00 and set a "neutral" rating on the stock in a report on Tuesday, October 1st. BNP Paribas downgraded Gentex from an "outperform" rating to a "neutral" rating and set a $34.00 price objective for the company. in a research note on Tuesday, July 30th. Finally, Bank of America lowered their target price 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 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, the stock has an average rating of "Hold" and an average target price of $35.13.

Gentex Price Performance

Gentex stock traded up $0.52 during trading hours on Friday, hitting $30.40. The stock had a trading volume of 939,959 shares, compared to its average volume of 1,455,348. Gentex Co. has a 1-year low of $28.30 and a 1-year high of $37.58. The stock has a market capitalization of $6.91 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 0.94 and a beta of 0.91. The stock's fifty day moving average is $29.89 and its two-hundred day moving average is $31.68.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Wednesday, October 9th. Gentex's payout ratio is currently 25.67%.

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.