US Bancorp DE Has $1.51 Million Stock Holdings in Gentex Co. (NASDAQ:GNTX)

US Bancorp DE lowered its position in shares of Gentex Co. (NASDAQ:GNTX) by 10.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,865 shares of the auto parts company’s stock after selling 5,869 shares during the quarter. US Bancorp DE’s holdings in Gentex were worth $1,510,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in GNTX. Financial Advocates Investment Management grew its holdings in shares of Gentex by 6.1% in the 3rd quarter. Financial Advocates Investment Management now owns 11,684 shares of the auto parts company’s stock valued at $347,000 after acquiring an additional 676 shares in the last quarter. S.A. Mason LLC boosted its position in Gentex by 3.2% during the third quarter. S.A. Mason LLC now owns 26,037 shares of the auto parts company’s stock valued at $773,000 after purchasing an additional 801 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in Gentex by 2.1% during the third quarter. Pinnacle Associates Ltd. now owns 72,585 shares of the auto parts company’s stock valued at $2,371,000 after purchasing an additional 1,525 shares during the last quarter. State of Alaska Department of Revenue grew its stake in Gentex by 1.4% in the third quarter. State of Alaska Department of Revenue now owns 104,287 shares of the auto parts company’s stock valued at $3,096,000 after purchasing an additional 1,440 shares in the last quarter. Finally, Outlook Wealth Advisors LLC increased its holdings in Gentex by 12.6% during the third quarter. Outlook Wealth Advisors LLC now owns 10,309 shares of the auto parts company’s stock worth $306,000 after buying an additional 1,157 shares during the last quarter. 86.76% of the stock is owned by institutional investors.

Insider Buying and Selling at Gentex

In related news, major shareholder Corp Gentex acquired 3,152,500 shares of the business’s stock in a transaction that occurred on 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 purchase, the insider now directly owns 6,463,808 shares in the company, valued at $32,319,040. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.41% of the company’s stock.

Gentex Stock Performance

Shares of NASDAQ GNTX opened at $30.60 on Friday. The firm has a 50 day moving average price of $29.93 and a two-hundred day moving average price of $32.00. The stock has a market cap of $6.96 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 0.98 and a beta of 0.91. Gentex Co. has a 52-week low of $28.30 and a 52-week high of $37.58.

Gentex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.57%. The ex-dividend date was Wednesday, October 9th. Gentex’s payout ratio is presently 25.67%.

Analyst Ratings Changes

Several analysts have issued reports on GNTX shares. The Goldman Sachs Group dropped their price objective on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. B. Riley lowered their target price on shares of Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Monday, July 29th. UBS Group initiated coverage on shares of Gentex in a report on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 target price on the stock. 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 report on Tuesday, July 30th. Finally, Robert W. Baird lifted their target price on Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Gentex currently has a consensus rating of “Hold” and an average price target of $36.00.

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.