Geode Capital Management LLC Acquires 285,802 Shares of Gentex Co. (NASDAQ:GNTX)

Geode Capital Management LLC boosted its holdings in Gentex Co. (NASDAQ:GNTX) by 5.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,368,004 shares of the auto parts company’s stock after purchasing an additional 285,802 shares during the quarter. Geode Capital Management LLC owned about 2.36% of Gentex worth $159,406,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GNTX. Foyston Gordon & Payne Inc increased its stake in shares of Gentex by 0.5% in the 3rd quarter. Foyston Gordon & Payne Inc now owns 165,835 shares of the auto parts company’s stock valued at $4,924,000 after acquiring an additional 901 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its stake in Gentex by 5.5% in the third quarter. Disciplined Growth Investors Inc. MN now owns 4,493,914 shares of the auto parts company’s stock valued at $133,424,000 after purchasing an additional 234,083 shares in the last quarter. Vestcor Inc acquired a new position in shares of Gentex during the third quarter valued at about $550,000. Barclays PLC raised its holdings in shares of Gentex by 54.4% during the third quarter. Barclays PLC now owns 107,930 shares of the auto parts company’s stock valued at $3,205,000 after purchasing an additional 38,027 shares during the period. Finally, Harvest Investment Advisors LLC boosted its position in shares of Gentex by 16.2% during the 3rd quarter. Harvest Investment Advisors LLC now owns 51,211 shares of the auto parts company’s stock worth $1,520,000 after purchasing an additional 7,125 shares in the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Gentex Price Performance

GNTX opened at $30.59 on Monday. Gentex Co. has a fifty-two week low of $28.30 and a fifty-two week high of $37.58. The firm has a market capitalization of $6.96 billion, a P/E ratio of 16.36, a PEG ratio of 1.09 and a beta of 0.91. The company’s 50-day moving average is $30.13 and its 200 day moving average is $31.19.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.57%. Gentex’s payout ratio is presently 25.67%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GNTX. Guggenheim dropped their price target 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 increased their target price on Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Bank of America decreased their price target on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. The Goldman Sachs Group lowered their price objective on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Finally, UBS Group began coverage on shares of Gentex in a report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Gentex currently has an average rating of “Hold” and an average price target 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.