Weiss Asset Management LP Buys New Shares in Gentex Co. (NASDAQ:GNTX)

Weiss Asset Management LP bought a new stake in shares of Gentex Co. (NASDAQ:GNTX - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 45,748 shares of the auto parts company's stock, valued at approximately $1,358,000.

Several other large investors have also recently made changes to their positions in the business. Disciplined Growth Investors Inc. MN grew its position in Gentex by 1.0% during the 2nd 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 purchasing an additional 43,457 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Gentex by 10.1% in the third quarter. Thrivent Financial for Lutherans now owns 392,445 shares of the auto parts company's stock worth $11,651,000 after buying an additional 36,134 shares in the last quarter. Ensign Peak Advisors Inc grew its holdings in shares of Gentex by 56.4% during the second quarter. Ensign Peak Advisors Inc now owns 109,451 shares of the auto parts company's stock valued at $3,690,000 after buying an additional 39,470 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Gentex during the second quarter valued at approximately $1,037,000. Finally, Citigroup Inc. raised 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 worth $14,365,000 after acquiring an additional 370,746 shares during the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Gentex Stock Up 3.1 %

NASDAQ:GNTX traded up $0.92 on Monday, hitting $30.68. The stock had a trading volume of 1,681,703 shares, compared to its average volume of 1,441,846. Gentex Co. has a 52-week low of $28.30 and a 52-week high of $37.58. The stock has a market cap of $6.98 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 1.05 and a beta of 0.91. The business's 50-day simple moving average is $30.01 and its two-hundred day simple moving average is $31.29.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $0.48 annualized dividend and a yield of 1.56%. Gentex's dividend payout ratio (DPR) is 25.67%.

Analysts Set New Price Targets

GNTX has been the topic of several recent analyst reports. UBS Group started coverage on Gentex in a research note on Wednesday, September 4th. They set a "neutral" rating and a $34.00 target price on the stock. Guggenheim dropped their price objective on Gentex from $35.00 to $34.00 and set a "buy" rating on the stock in a research report on Thursday, November 21st. Robert W. Baird lifted their price objective on Gentex from $35.00 to $37.00 and gave the stock an "outperform" rating in a report on Monday, October 28th. Bank of America lowered their target price on shares of Gentex from $39.00 to $35.00 and set a "neutral" rating on the stock in a research note on Monday, October 14th. Finally, The Goldman Sachs Group dropped their price target on shares of Gentex from $33.00 to $31.00 and set a "neutral" rating on the stock in a report on Tuesday, October 1st. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Gentex currently has an average rating of "Hold" and an average target price of $35.13.

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.