Gentex Co. (NASDAQ:GNTX) Holdings Raised by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its position in Gentex Co. (NASDAQ:GNTX) by 1.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 104,287 shares of the auto parts company’s stock after acquiring an additional 1,440 shares during the quarter. State of Alaska Department of Revenue’s holdings in Gentex were worth $3,096,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Quest Partners LLC acquired a new position in Gentex during the 2nd quarter valued at approximately $31,000. Gladius Capital Management LP acquired a new position in Gentex during the 2nd quarter valued at approximately $34,000. EverSource Wealth Advisors LLC boosted its position in Gentex by 173.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock valued at $42,000 after purchasing an additional 850 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its position in Gentex by 227.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock valued at $54,000 after purchasing an additional 1,269 shares during the period. Finally, HHM Wealth Advisors LLC acquired a new position in Gentex during the 2nd quarter valued at approximately $67,000. 86.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GNTX. Bank of America reduced their price target on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Robert W. Baird boosted their price target on Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday. UBS Group began coverage on Gentex in a research report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price target for the company. StockNews.com lowered Gentex from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. Finally, BNP Paribas lowered Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target for the company. in a research report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $36.00.

Gentex Stock Down 0.7 %

Shares of Gentex stock opened at $31.11 on Thursday. The firm has a market cap of $7.19 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 0.91 and a beta of 0.92. The business has a fifty day simple moving average of $29.99 and a 200-day simple moving average of $32.12. Gentex Co. has a fifty-two week low of $28.25 and a fifty-two week high of $37.58.

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 issued a $0.12 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.54%. Gentex’s dividend payout ratio (DPR) is 25.40%.

Insider Activity

In related news, major shareholder Corp Gentex bought 3,152,500 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost of $5.00 per share, with a total value of $15,762,500.00. Following the completion of the transaction, the insider now directly owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.41% of the company’s stock.

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.