Hendershot Investments Inc. Has $18.85 Million Holdings in Gentex Co. (NASDAQ:GNTX)

Hendershot Investments Inc. increased its stake in shares of Gentex Co. (NASDAQ:GNTX) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 634,835 shares of the auto parts company’s stock after purchasing an additional 4,149 shares during the period. Gentex makes up approximately 2.6% of Hendershot Investments Inc.’s investment portfolio, making the stock its 10th largest holding. Hendershot Investments Inc.’s holdings in Gentex were worth $18,848,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GNTX. EdgePoint Investment Group Inc. raised its holdings in Gentex by 1.5% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 7,699,919 shares of the auto parts company’s stock worth $228,611,000 after buying an additional 111,500 shares during the period. Weiss Asset Management LP bought a new stake in shares of Gentex during the third quarter worth $1,358,000. Systematic Financial Management LP raised its holdings in shares of Gentex by 40.6% during the third quarter. Systematic Financial Management LP now owns 307,051 shares of the auto parts company’s stock worth $9,116,000 after acquiring an additional 88,736 shares during the period. Quantinno Capital Management LP lifted its position in Gentex by 17.8% in the 3rd quarter. Quantinno Capital Management LP now owns 20,028 shares of the auto parts company’s stock valued at $595,000 after acquiring an additional 3,026 shares in the last quarter. Finally, Readystate Asset Management LP acquired a new position in Gentex in the 3rd quarter worth $871,000. Institutional investors own 86.76% of the company’s stock.

Analysts Set New Price Targets

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

Gentex Stock Performance

Gentex stock opened at $29.76 on Friday. The stock has a 50-day simple moving average of $29.99 and a 200 day simple moving average of $31.35. The stock has a market capitalization of $6.77 billion, a P/E ratio of 15.91, a PEG ratio of 1.06 and a beta of 0.91. Gentex Co. has a 52 week low of $28.30 and a 52 week high of $37.58.

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 issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Wednesday, January 8th. Gentex’s payout ratio is presently 25.67%.

Gentex 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.