First Trust Advisors LP raised its holdings in Gentex Co. (NASDAQ:GNTX) by 2.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,077,845 shares of the auto parts company’s stock after acquiring an additional 25,045 shares during the period. First Trust Advisors LP’s holdings in Gentex were worth $24,812,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Nisa Investment Advisors LLC raised its holdings in Gentex by 3.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 156,820 shares of the auto parts company’s stock valued at $3,610,000 after acquiring an additional 5,000 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Gentex by 4.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,271,462 shares of the auto parts company’s stock valued at $29,270,000 after acquiring an additional 56,171 shares during the last quarter. Cambria Investment Management L.P. acquired a new position in Gentex in the 2nd quarter valued at $1,484,000. BP PLC acquired a new position in Gentex in the 2nd quarter valued at $2,371,000. Finally, PGGM Investments raised its holdings in Gentex by 1.6% in the 2nd quarter. PGGM Investments now owns 879,295 shares of the auto parts company’s stock valued at $20,241,000 after acquiring an additional 13,813 shares during the last quarter. Institutional investors own 85.19% of the company’s stock.
Shares of Gentex stock opened at $23.60 on Wednesday. Gentex Co. has a twelve month low of $16.86 and a twelve month high of $25.41. The firm has a market cap of $6.37 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 1.09 and a beta of 1.33.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 18th. Investors of record on Friday, July 6th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, July 5th. This represents a $0.44 dividend on an annualized basis and a yield of 1.86%. Gentex’s dividend payout ratio (DPR) is 34.38%.
In related news, Director John A. Mulder sold 5,000 shares of the company’s stock in a transaction on Tuesday, June 19th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is currently owned by corporate insiders.
A number of research firms have recently commented on GNTX. Zacks Investment Research upgraded Gentex from a “sell” rating to a “hold” rating in a report on Tuesday, July 17th. JPMorgan Chase & Co. dropped their price objective on Gentex from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Tuesday, April 24th. BidaskClub downgraded Gentex from a “buy” rating to a “hold” rating in a report on Saturday, June 23rd. Longbow Research restated a “buy” rating and set a $28.00 price objective on shares of Gentex in a report on Monday, July 23rd. Finally, ValuEngine upgraded Gentex from a “hold” rating to a “buy” rating in a report on Thursday, May 17th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $25.60.
Gentex Corporation provides automatic-dimming and non-dimming rearview mirrors, and electronics for the automotive industry; dimmable aircraft windows for the aviation industry; and commercial smoke alarms and signaling devices for the fire protection industry worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and interior and exterior non-automatic-dimming rearview mirrors with electronic features for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.
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