Atria Investments Inc Raises Stock Position in Gentex Co. (NASDAQ:GNTX)

Atria Investments Inc boosted its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 2.0% in the third quarter, HoldingsChannel reports. The firm owned 28,940 shares of the auto parts company’s stock after buying an additional 577 shares during the period. Atria Investments Inc’s holdings in Gentex were worth $859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Gentex in the first quarter worth about $227,000. SG Americas Securities LLC grew its stake in shares of Gentex by 72.2% during the 1st quarter. SG Americas Securities LLC now owns 8,737 shares of the auto parts company’s stock worth $316,000 after purchasing an additional 3,663 shares during the period. Sei Investments Co. grew its stake in shares of Gentex by 6.4% during the 1st quarter. Sei Investments Co. now owns 131,584 shares of the auto parts company’s stock worth $4,753,000 after purchasing an additional 7,935 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in shares of Gentex by 18.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 9,826 shares of the auto parts company’s stock valued at $355,000 after purchasing an additional 1,513 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of Gentex by 110.0% in the 1st quarter. Bessemer Group Inc. now owns 8,079 shares of the auto parts company’s stock valued at $292,000 after purchasing an additional 4,231 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Price Performance

Shares of Gentex stock opened at $29.61 on Tuesday. The business has a 50 day simple moving average of $29.87 and a two-hundred day simple moving average of $31.75. The stock has a market capitalization of $6.73 billion, a P/E ratio of 15.83, a PEG ratio of 0.97 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 Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.62%. Gentex’s payout ratio is currently 25.67%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. The Goldman Sachs Group cut their price objective on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. BNP Paribas lowered Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target for the company. in a research note on Tuesday, July 30th. B. Riley lowered their price target on Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Monday, July 29th. Robert W. Baird boosted their price objective on Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Finally, UBS Group assumed coverage on Gentex in a research note on Wednesday, September 4th. They set a “neutral” rating and a $34.00 target price for the company. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $36.00.

Insiders Place Their Bets

In related news, major shareholder Corp Gentex bought 3,152,500 shares of the stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $5.00 per share, for a total transaction of $15,762,500.00. Following the acquisition, the insider now directly owns 6,463,808 shares in the company, valued at approximately $32,319,040. This trade represents a 95.20 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

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.