XXEC Inc. Increases Stock Position in Gentex Co. (NASDAQ:GNTX)

XXEC Inc. increased its stake in Gentex Co. (NASDAQ:GNTX - Free Report) by 35.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,306 shares of the auto parts company's stock after acquiring an additional 44,652 shares during the period. Gentex makes up about 3.9% of XXEC Inc.'s holdings, making the stock its 14th largest holding. XXEC Inc. owned about 0.07% of Gentex worth $5,116,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GNTX. Scharf Investments LLC grew its position in shares of Gentex by 36,001.4% during the 2nd quarter. Scharf Investments LLC now owns 2,278,357 shares of the auto parts company's stock valued at $76,803,000 after buying an additional 2,272,046 shares during the last quarter. TD Asset Management Inc grew 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 during the period. Epoch Investment Partners Inc. lifted its stake in Gentex by 32.6% in the first quarter. Epoch Investment Partners Inc. now owns 2,963,250 shares of the auto parts company's stock valued at $107,033,000 after buying an additional 727,913 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in 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 worth $134,475,000 after buying an additional 489,689 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Gentex by 344.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 589,916 shares of the auto parts company's stock valued at $19,886,000 after acquiring an additional 457,054 shares during the period. Hedge funds and other institutional investors own 86.76% of the company's stock.

Gentex Price Performance

Shares of GNTX stock traded up $0.17 on Tuesday, hitting $30.36. The company's stock had a trading volume of 1,657,792 shares, compared to its average volume of 1,469,716. The stock has a market capitalization of $6.90 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 0.97 and a beta of 0.91. 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 $29.88 and its 200-day moving average price is $31.89.

Gentex Announces Dividend

The business 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. This represents a $0.48 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Wednesday, October 9th. Gentex's dividend payout ratio is 25.67%.

Insider Activity at Gentex

In other news, major shareholder Corp Gentex bought 3,152,500 shares of the company's stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of $5.00 per share, for a total transaction of $15,762,500.00. Following the transaction, the insider now owns 6,463,808 shares of the company's stock, valued at $32,319,040. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on GNTX. Robert W. Baird raised their price target on shares of Gentex from $35.00 to $37.00 and gave the stock an "outperform" rating in a report on Monday, October 28th. UBS Group assumed 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. B. Riley decreased their price objective on shares of Gentex from $44.00 to $41.00 and set a "buy" rating on the stock in a research report on Monday, July 29th. The Goldman Sachs Group dropped their price objective on Gentex from $33.00 to $31.00 and set a "neutral" rating for the company in a research note on Tuesday, October 1st. Finally, BNP Paribas downgraded Gentex from an "outperform" rating to a "neutral" rating and set a $34.00 price objective for the company. in a report on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $36.00.

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.