Intellectus Partners LLC Buys 484 Shares of Gentex Co. (NASDAQ:GNTX)

Intellectus Partners LLC boosted its stake in Gentex Co. (NASDAQ:GNTX) by 6.1% during the third quarter, Holdings Channel.com reports. The firm owned 8,452 shares of the auto parts company’s stock after buying an additional 484 shares during the period. Intellectus Partners LLC’s holdings in Gentex were worth $251,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GNTX. Quest Partners LLC purchased a new position in shares of Gentex in the second quarter worth $31,000. Gladius Capital Management LP purchased a new position in shares of Gentex in the second quarter valued at about $34,000. EverSource Wealth Advisors LLC raised its stake in shares of Gentex by 173.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock valued at $42,000 after acquiring an additional 850 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Gentex by 227.8% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock worth $54,000 after purchasing an additional 1,269 shares during the period. Finally, HHM Wealth Advisors LLC purchased a new position in Gentex during the 2nd quarter valued at about $67,000. Institutional investors own 86.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. The Goldman Sachs Group reduced 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. UBS Group initiated coverage on Gentex in a research report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price objective on the stock. BNP Paribas cut Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 target price for the company. in a research note on Tuesday, July 30th. Finally, Robert W. Baird upped their price target on Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $36.00.

Gentex Trading Down 0.8 %

NASDAQ GNTX opened at $30.15 on Friday. The stock’s fifty day moving average price is $29.87 and its 200-day moving average price is $31.84. The stock has a market cap of $6.86 billion, a P/E ratio of 16.12, a P/E/G ratio of 0.98 and a beta of 0.91. Gentex Co. has a 12 month low of $28.30 and a 12 month high of $37.58.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.48 annualized dividend and a yield of 1.59%. Gentex’s dividend payout ratio (DPR) is presently 25.67%.

Insider Activity

In related news, major shareholder Corp Gentex purchased 3,152,500 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were purchased at an average price of $5.00 per share, with a total value of $15,762,500.00. Following the acquisition, the insider now directly owns 6,463,808 shares in the company, valued at $32,319,040. The trade was a 95.20 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.41% of the company’s stock.

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.