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

Citigroup Inc. lifted its position in Gentex Co. (NASDAQ:GNTX) by 327.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 483,842 shares of the auto parts company’s stock after purchasing an additional 370,746 shares during the period. Citigroup Inc. owned 0.21% of Gentex worth $14,365,000 at the end of the most recent quarter.

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

Gentex Price Performance

Shares of NASDAQ:GNTX opened at $30.57 on Thursday. The business’s 50-day moving average is $30.02 and its 200 day moving average is $31.55. Gentex Co. has a 1 year low of $28.30 and a 1 year high of $37.58. The firm has a market capitalization of $6.95 billion, a P/E ratio of 16.35, a P/E/G ratio of 1.09 and a beta of 0.91.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.57%. The ex-dividend date is Wednesday, January 8th. Gentex’s dividend payout ratio is currently 25.67%.

Analyst Ratings Changes

A number of analysts have weighed in on GNTX shares. Guggenheim lowered their target price on Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Bank of America reduced their price target on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. UBS Group assumed 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. Robert W. Baird boosted their price target on Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Finally, The Goldman Sachs Group reduced their price target on Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Gentex currently has a consensus rating of “Hold” and a consensus target price of $35.13.

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.