Van ECK Associates Corp Has $9.14 Million Holdings in Gentex Co. (NASDAQ:GNTX)

Van ECK Associates Corp increased its position in Gentex Co. (NASDAQ:GNTX - Free Report) by 74.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 309,668 shares of the auto parts company's stock after acquiring an additional 132,322 shares during the period. Van ECK Associates Corp owned approximately 0.13% of Gentex worth $9,141,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of GNTX. Boston Partners grew its stake in shares of Gentex by 4.2% in the first quarter. Boston Partners now owns 5,706,411 shares of the auto parts company's stock worth $206,095,000 after purchasing an additional 230,873 shares in the last quarter. TD Asset Management Inc raised its position in shares of Gentex by 41.2% during the 1st quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company's stock worth $168,957,000 after buying an additional 1,363,898 shares in the last quarter. Burgundy Asset Management Ltd. lifted its stake in shares of Gentex by 3.0% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,343,880 shares of the auto parts company's stock worth $146,432,000 after acquiring an additional 126,416 shares during the period. Disciplined Growth Investors Inc. MN boosted its holdings in shares of Gentex by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 4,259,831 shares of the auto parts company's stock valued at $143,599,000 after acquiring an additional 43,457 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Gentex by 14.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,989,248 shares of the auto parts company's stock valued at $134,475,000 after acquiring an additional 489,689 shares during the period. Institutional investors and hedge funds own 86.76% of the company's stock.

Insiders Place Their Bets

In other Gentex 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 acquired at an average price of $5.00 per share, with a total value of $15,762,500.00. Following the acquisition, the insider now directly owns 6,463,808 shares of the company's stock, valued at $32,319,040. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.41% of the company's stock.

Gentex Trading Up 0.2 %

Shares of NASDAQ:GNTX traded up $0.05 during trading on Thursday, hitting $30.73. 622,649 shares of the company's stock were exchanged, compared to its average volume of 1,460,578. The firm has a market cap of $6.99 billion, a P/E ratio of 16.41, a PEG ratio of 0.98 and a beta of 0.91. Gentex Co. has a 1-year low of $28.30 and a 1-year high of $37.58. The firm has a 50-day moving average price of $29.93 and a two-hundred day moving average price of $32.00.

Gentex Dividend Announcement

The company also recently disclosed 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 was Wednesday, October 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.56%. Gentex's dividend payout ratio is currently 25.67%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GNTX shares. UBS Group started coverage on Gentex in a research note on Wednesday, September 4th. They issued a "neutral" rating and a $34.00 price objective on the stock. Robert W. Baird lifted 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. JPMorgan Chase & Co. cut their target price on shares of Gentex from $36.00 to $35.00 and set a "neutral" rating for the company in a research note on Monday, July 22nd. BNP Paribas lowered shares of 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. Finally, Bank of America dropped 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. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $36.00.

Gentex Company 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.