FORA Capital LLC Makes New Investment in Gentex Co. (NASDAQ:GNTX)

FORA Capital LLC bought a new stake in Gentex Co. (NASDAQ:GNTX) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 28,502 shares of the auto parts company’s stock, valued at approximately $846,000.

Several other hedge funds have also modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Gentex by 6.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 124,399 shares of the auto parts company’s stock valued at $4,495,000 after purchasing an additional 7,304 shares during the period. Comerica Bank lifted its holdings in Gentex by 96.4% in the 1st quarter. Comerica Bank now owns 247,013 shares of the auto parts company’s stock worth $8,922,000 after buying an additional 121,269 shares in the last quarter. iA Global Asset Management Inc. purchased a new position in Gentex in the 1st quarter valued at about $668,000. LRI Investments LLC acquired a new stake in shares of Gentex during the first quarter valued at about $93,000. Finally, Cetera Investment Advisers increased its position in shares of Gentex by 91.0% during the first quarter. Cetera Investment Advisers now owns 127,876 shares of the auto parts company’s stock worth $4,619,000 after acquiring an additional 60,934 shares during the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Gentex Price Performance

GNTX stock opened at $30.57 on Friday. The firm has a market cap of $6.95 billion, a PE ratio of 16.35, a P/E/G ratio of 1.09 and a beta of 0.91. Gentex Co. has a 12 month low of $28.30 and a 12 month high of $37.58. The firm has a 50 day simple moving average of $30.03 and a 200 day simple moving average of $31.54.

Gentex Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 1.57%. Gentex’s dividend payout ratio (DPR) is presently 25.67%.

Analysts Set New Price Targets

A number of brokerages have weighed in on GNTX. The Goldman Sachs Group lowered their price objective on Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st. Robert W. Baird raised 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. UBS Group assumed coverage on shares of Gentex in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price target for the company. Bank of America reduced their price objective on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Finally, Guggenheim dropped 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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Gentex presently has an average rating of “Hold” and a consensus price target of $35.13.

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.