Jensen Investment Management Inc. Has $5.11 Million Stake in Gentex Co. (NASDAQ:GNTX)

Jensen Investment Management Inc. raised its position in Gentex Co. (NASDAQ:GNTX) by 11.2% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 172,120 shares of the auto parts company’s stock after buying an additional 17,300 shares during the period. Jensen Investment Management Inc.’s holdings in Gentex were worth $5,110,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quest Partners LLC acquired a new position in shares of Gentex in the 2nd quarter valued at $31,000. Gladius Capital Management LP bought a new position in Gentex during the 2nd quarter worth approximately $34,000. EverSource Wealth Advisors LLC raised its stake in Gentex by 173.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock worth $42,000 after buying an additional 850 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its position 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 buying an additional 1,269 shares during the period. Finally, HHM Wealth Advisors LLC bought a new position in shares of Gentex during the second quarter worth about $67,000. 86.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GNTX. BNP Paribas cut shares of 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. Robert W. Baird lifted their target price on Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. B. Riley reduced their price target on Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Monday, July 29th. JPMorgan Chase & Co. lowered their price target on Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Finally, Bank of America cut their price objective on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $36.00.

Gentex Stock Down 1.4 %

Shares of GNTX traded down $0.43 during trading hours on Friday, hitting $30.17. The company had a trading volume of 1,718,140 shares, compared to its average volume of 1,517,030. The business has a fifty day moving average of $29.90 and a 200-day moving average of $31.95. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 0.99 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 firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were given 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 dividend yield of 1.59%. Gentex’s payout ratio is 25.67%.

Insiders Place Their Bets

In related news, major shareholder Corp Gentex bought 3,152,500 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $5.00 per share, for a total transaction of $15,762,500.00. Following the transaction, the insider now owns 6,463,808 shares in the company, valued at $32,319,040. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.