JPMorgan Chase & Co. Buys 1,285,519 Shares of Gentex Co. (NASDAQ:GNTX)

JPMorgan Chase & Co. increased its stake in shares of Gentex Co. (NASDAQ:GNTX) by 179.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,000,796 shares of the auto parts company’s stock after purchasing an additional 1,285,519 shares during the quarter. JPMorgan Chase & Co.’s holdings in Gentex were worth $59,404,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Quest Partners LLC bought a new stake in Gentex in the second quarter worth about $31,000. EverSource Wealth Advisors LLC raised its holdings in shares of Gentex by 173.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock worth $42,000 after buying an additional 850 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of 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 worth $54,000 after acquiring an additional 1,269 shares during the last quarter. HHM Wealth Advisors LLC purchased a new position in Gentex during the 2nd quarter valued at $67,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Gentex in the 3rd quarter valued at $125,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Analyst Upgrades and Downgrades

GNTX has been the subject of several research analyst reports. The Goldman Sachs Group decreased their target price on Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. Guggenheim decreased their price objective on shares of Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Bank of America reduced 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. Finally, Robert W. Baird lifted their price target on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research note 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, the company presently has an average rating of “Hold” and an average target price of $35.13.

Gentex Trading Down 0.2 %

Shares of NASDAQ GNTX opened at $28.04 on Friday. Gentex Co. has a 12-month low of $27.83 and a 12-month high of $37.58. The stock’s fifty day simple moving average is $30.02 and its two-hundred day simple moving average is $30.68. The stock has a market capitalization of $6.38 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 1.08 and a beta of 0.91.

Gentex Dividend Announcement

The business also recently disclosed 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. This represents a $0.48 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Wednesday, January 8th. Gentex’s payout ratio is currently 25.67%.

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.