Vestcor Inc Makes New Investment in Gentex Co. (NASDAQ:GNTX)

Vestcor Inc purchased a new stake in Gentex Co. (NASDAQ:GNTX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 18,522 shares of the auto parts company’s stock, valued at approximately $550,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC acquired a new stake in shares of Gentex during the 2nd quarter worth about $31,000. EverSource Wealth Advisors LLC increased its position in shares of Gentex by 173.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock valued at $42,000 after acquiring an additional 850 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Gentex by 227.8% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock valued at $54,000 after acquiring an additional 1,269 shares during the period. HHM Wealth Advisors LLC acquired a new position in shares of Gentex in the 2nd quarter worth approximately $67,000. Finally, KBC Group NV boosted its position in shares of Gentex by 13.3% during the 3rd quarter. KBC Group NV now owns 5,664 shares of the auto parts company’s stock worth $168,000 after purchasing an additional 667 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Analyst Upgrades and Downgrades

GNTX has been the topic of a number of research reports. UBS Group initiated coverage on Gentex in a research note on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price target on the stock. The Goldman Sachs Group decreased 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 dropped their target price on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Robert W. Baird increased their price target 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. Finally, Guggenheim dropped their price objective on shares of Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, November 21st. 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, Gentex currently has a consensus rating of “Hold” and an average target price of $35.13.

Gentex Stock Up 0.0 %

Shares of NASDAQ:GNTX opened at $30.59 on Friday. Gentex Co. has a fifty-two week low of $28.30 and a fifty-two week high of $37.58. The firm’s 50 day moving average price is $30.10 and its 200 day moving average price is $31.26. The stock has a market cap of $6.96 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 1.09 and a beta of 0.91.

Gentex Dividend Announcement

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