82,211 Shares in Gentex Co. (NASDAQ:GNTX) Bought by Quantbot Technologies LP

Quantbot Technologies LP bought a new position in shares of Gentex Co. (NASDAQ:GNTX) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 82,211 shares of the auto parts company’s stock, valued at approximately $2,441,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cetera Investment Advisers boosted its position in shares of Gentex by 91.0% during the first quarter. Cetera Investment Advisers now owns 127,876 shares of the auto parts company’s stock worth $4,619,000 after acquiring an additional 60,934 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its position in Gentex by 1.0% during the second quarter. Disciplined Growth Investors Inc. MN now owns 4,259,831 shares of the auto parts company’s stock valued at $143,599,000 after purchasing an additional 43,457 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Gentex by 10.1% during the third quarter. Thrivent Financial for Lutherans now owns 392,445 shares of the auto parts company’s stock valued at $11,651,000 after purchasing an additional 36,134 shares during the last quarter. Ensign Peak Advisors Inc lifted its position in Gentex by 56.4% during the second quarter. Ensign Peak Advisors Inc now owns 109,451 shares of the auto parts company’s stock valued at $3,690,000 after purchasing an additional 39,470 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in Gentex during the second quarter valued at $1,037,000. Institutional investors own 86.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. The Goldman Sachs Group lowered their price objective on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. Guggenheim lowered their price objective on shares of Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Robert W. Baird increased 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 lowered their price objective 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, UBS Group began coverage on shares of Gentex in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $35.13.

Gentex Price Performance

GNTX stock opened at $30.57 on Friday. The company has a market capitalization of $6.95 billion, a PE ratio of 16.35, a P/E/G ratio of 1.09 and a beta of 0.91. Gentex Co. has a 12 month low of $28.30 and a 12 month high of $37.58. The firm’s 50-day moving average is $30.03 and its 200 day moving average is $31.54.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Wednesday, January 8th. Gentex’s dividend payout ratio is presently 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.