Fifth Third Wealth Advisors LLC Purchases 1,493 Shares of Gentex Co. (NASDAQ:GNTX)

Fifth Third Wealth Advisors LLC boosted its position in shares of Gentex Co. (NASDAQ:GNTX) by 20.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,936 shares of the auto parts company’s stock after buying an additional 1,493 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Gentex were worth $257,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in GNTX. Quest Partners LLC bought a new position in shares of Gentex during the second quarter valued at about $31,000. EverSource Wealth Advisors LLC grew its stake 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 purchasing an additional 850 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings 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. Wilmington Savings Fund Society FSB bought a new position in Gentex during the 3rd quarter valued at approximately $125,000. Finally, GAMMA Investing LLC lifted its holdings in Gentex by 159.1% in the 4th quarter. GAMMA Investing LLC now owns 5,133 shares of the auto parts company’s stock worth $147,000 after buying an additional 3,152 shares during the period. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Price Performance

NASDAQ:GNTX opened at $27.97 on Friday. The firm has a market capitalization of $6.36 billion, a P/E ratio of 14.96, a PEG ratio of 0.83 and a beta of 0.91. Gentex Co. has a one year low of $26.58 and a one year high of $37.58. The company’s 50-day simple moving average is $29.37 and its 200 day simple moving average is $30.23.

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.72%. Gentex’s dividend payout ratio is currently 25.67%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GNTX. Guggenheim reduced their target price on Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Robert W. Baird boosted their price objective on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Bank of America dropped their target price on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Finally, The Goldman Sachs Group reduced their price target on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $35.13.

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.