Intellectus Partners LLC Boosts Holdings in Gentex Co. (NASDAQ:GNTX)

by · The Markets Daily

Intellectus Partners LLC boosted its stake in Gentex Co. (NASDAQ:GNTX – Free Report) by 6.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,452 shares of the auto parts company’s stock after acquiring an additional 484 shares during the period. Intellectus Partners LLC’s holdings in Gentex were worth $251,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. bought a new position in Gentex during the first quarter valued at $227,000. Empowered Funds LLC bought a new position in shares of Gentex during the 1st quarter worth $353,000. SG Americas Securities LLC increased its holdings in Gentex by 72.2% in the 1st quarter. SG Americas Securities LLC now owns 8,737 shares of the auto parts company’s stock worth $316,000 after acquiring an additional 3,663 shares during the last quarter. Sei Investments Co. raised its stake in Gentex by 6.4% in the 1st quarter. Sei Investments Co. now owns 131,584 shares of the auto parts company’s stock valued at $4,753,000 after acquiring an additional 7,935 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its holdings in Gentex by 1.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 300,533 shares of the auto parts company’s stock valued at $10,855,000 after purchasing an additional 4,126 shares during the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Gentex Price Performance

Shares of Gentex stock opened at $30.15 on Friday. The company has a 50 day simple moving average of $29.87 and a two-hundred day simple moving average of $31.84. The firm has a market cap of $6.86 billion, a PE ratio of 16.12, a PEG ratio of 0.98 and a beta of 0.91. Gentex Co. has a 1 year low of $28.30 and a 1 year high of $37.58.

Gentex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a yield of 1.59%. Gentex’s payout ratio is 25.67%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GNTX shares. The Goldman Sachs Group lowered 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. B. Riley dropped their target price on Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Monday, July 29th. UBS Group initiated coverage on Gentex in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price target for the company. BNP Paribas lowered Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. cut their target price on Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $36.00.

View Our Latest Stock Analysis on Gentex

Insiders Place Their Bets

In other Gentex news, major shareholder Corp Gentex acquired 3,152,500 shares of the stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $5.00 per share, for a total transaction of $15,762,500.00. Following the acquisition, the insider now owns 6,463,808 shares in the company, valued at $32,319,040. The trade was a 95.20 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.41% of the company’s stock.

Gentex Profile

(Free Report)

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.

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