Gentex Co. (NASDAQ:GNTX) Shares Acquired by Raymond James Trust N.A.

Raymond James Trust N.A. increased its stake in shares of Gentex Co. (NASDAQ:GNTX) by 56.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 16,427 shares of the auto parts company’s stock after purchasing an additional 5,908 shares during the period. Raymond James Trust N.A.’s holdings in Gentex were worth $488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cetera Investment Advisers lifted its stake in shares of Gentex by 91.0% in the 1st quarter. Cetera Investment Advisers now owns 127,876 shares of the auto parts company’s stock worth $4,619,000 after acquiring an additional 60,934 shares during the period. Disciplined Growth Investors Inc. MN lifted its position in Gentex by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 4,259,831 shares of the auto parts company’s stock valued at $143,599,000 after purchasing an additional 43,457 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Gentex by 10.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 392,445 shares of the auto parts company’s stock valued at $11,651,000 after purchasing an additional 36,134 shares in the last quarter. Ensign Peak Advisors Inc increased its position in Gentex by 56.4% during the 2nd quarter. Ensign Peak Advisors Inc now owns 109,451 shares of the auto parts company’s stock worth $3,690,000 after purchasing an additional 39,470 shares during the period. Finally, Intech Investment Management LLC purchased a new position in shares of Gentex during the 2nd quarter worth approximately $1,037,000. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GNTX shares. Bank of America dropped their price objective on Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. BNP Paribas downgraded shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a report on Tuesday, July 30th. Robert W. Baird increased their target price on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, October 28th. The Goldman Sachs Group decreased their price target on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. Finally, UBS Group started coverage on Gentex in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $35.13.

Gentex Stock Performance

Shares of NASDAQ:GNTX opened at $30.88 on Wednesday. The business’s fifty day moving average price is $29.99 and its two-hundred day moving average price is $31.55. The stock has a market cap of $7.02 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 1.07 and a beta of 0.91. Gentex Co. has a one year low of $28.30 and a one year high of $37.58.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.55%. Gentex’s payout ratio is 25.67%.

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.