Motley Fool Asset Management LLC Has $8.46 Million Stake in Gentex Co. (NASDAQ:GNTX)

Motley Fool Asset Management LLC raised its stake in shares of Gentex Co. (NASDAQ:GNTX) by 0.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 287,121 shares of the auto parts company’s stock after purchasing an additional 1,917 shares during the period. Motley Fool Asset Management LLC owned approximately 0.13% of Gentex worth $8,461,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Phoenix Wealth Advisors boosted its stake in Gentex by 3.1% during the 2nd quarter. Phoenix Wealth Advisors now owns 10,196 shares of the auto parts company’s stock valued at $344,000 after purchasing an additional 306 shares during the last quarter. Lindenwold Advisors INC lifted its position in shares of Gentex by 2.8% during the 3rd quarter. Lindenwold Advisors INC now owns 12,539 shares of the auto parts company’s stock worth $372,000 after buying an additional 347 shares in the last quarter. United Services Automobile Association lifted its position in shares of Gentex by 2.5% during the 2nd quarter. United Services Automobile Association now owns 17,447 shares of the auto parts company’s stock worth $588,000 after buying an additional 427 shares in the last quarter. Harfst & Associates Inc. lifted its position in shares of Gentex by 0.7% during the 2nd quarter. Harfst & Associates Inc. now owns 66,692 shares of the auto parts company’s stock worth $2,248,000 after buying an additional 450 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Gentex by 4.0% during the 2nd quarter. Blue Trust Inc. now owns 12,434 shares of the auto parts company’s stock worth $449,000 after buying an additional 475 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Price Performance

Shares of GNTX stock opened at $30.11 on Wednesday. The company’s fifty day simple moving average is $30.04 and its two-hundred day simple moving average is $31.40. Gentex Co. has a 1 year low of $28.30 and a 1 year high of $37.58. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 1.08 and a beta of 0.91.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $0.48 dividend on an annualized basis and a yield of 1.59%. Gentex’s payout ratio is 25.67%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GNTX shares. Bank of America dropped their target price on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Guggenheim dropped their target price on shares of Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Robert W. Baird lifted their target price on shares of Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. The Goldman Sachs Group lowered their price target on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Finally, UBS Group began coverage on shares of Gentex in a report on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company 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.