Hennion & Walsh Asset Management Inc. Purchases 9,354 Shares of Gentex Co. (NASDAQ:GNTX)

Hennion & Walsh Asset Management Inc. lifted its position in Gentex Co. (NASDAQ:GNTX) by 16.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,796 shares of the auto parts company’s stock after buying an additional 9,354 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Gentex were worth $1,948,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GNTX. JPMorgan Chase & Co. grew its stake in shares of Gentex by 179.7% in the third quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company’s stock valued at $59,404,000 after buying an additional 1,285,519 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Gentex by 14.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,989,248 shares of the auto parts company’s stock valued at $134,475,000 after buying an additional 489,689 shares in the last quarter. Bridgewater Associates LP grew its stake in shares of Gentex by 249.1% in the third quarter. Bridgewater Associates LP now owns 617,657 shares of the auto parts company’s stock valued at $18,338,000 after buying an additional 440,725 shares in the last quarter. Citigroup Inc. grew its stake in shares of Gentex by 327.8% in the third quarter. Citigroup Inc. now owns 483,842 shares of the auto parts company’s stock valued at $14,365,000 after buying an additional 370,746 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Gentex by 53.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 905,080 shares of the auto parts company’s stock worth $26,872,000 after purchasing an additional 315,164 shares during the period. 86.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Guggenheim reduced 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. Bank of America reduced 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. Robert W. Baird lifted their price objective on shares of Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Finally, The Goldman Sachs Group reduced 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. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Gentex has an average rating of “Hold” and a consensus target price of $35.13.

Gentex Stock Performance

GNTX opened at $27.97 on Friday. Gentex Co. has a fifty-two week low of $26.58 and a fifty-two week high of $37.58. The company has a market capitalization of $6.36 billion, a P/E ratio of 14.96, a P/E/G ratio of 0.83 and a beta of 0.91. The stock has a fifty day moving average of $29.37 and a 200-day moving average of $30.23.

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 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Wednesday, January 8th. Gentex’s dividend payout ratio (DPR) 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.