XXEC Inc. Has $5.12 Million Stake in Gentex Co. (NASDAQ:GNTX)

XXEC Inc. boosted its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 35.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,306 shares of the auto parts company’s stock after buying an additional 44,652 shares during the period. Gentex comprises 3.9% of XXEC Inc.’s portfolio, making the stock its 14th largest holding. XXEC Inc. owned approximately 0.07% of Gentex worth $5,116,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GNTX. TD Asset Management Inc boosted its position in shares of Gentex by 41.2% during the 1st quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock valued at $168,957,000 after acquiring an additional 1,363,898 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Gentex by 91.0% during the first quarter. Cetera Investment Advisers now owns 127,876 shares of the auto parts company’s stock valued at $4,619,000 after purchasing an additional 60,934 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its stake in shares of Gentex by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 4,259,831 shares of the auto parts company’s stock valued at $143,599,000 after purchasing an additional 43,457 shares during the period. Sei Investments Co. raised its holdings in shares of Gentex by 6.4% in the 1st quarter. Sei Investments Co. now owns 131,584 shares of the auto parts company’s stock worth $4,753,000 after buying an additional 7,935 shares in the last quarter. Finally, Ensign Peak Advisors Inc lifted its position in shares of Gentex by 56.4% during the 2nd quarter. Ensign Peak Advisors Inc now owns 109,451 shares of the auto parts company’s stock worth $3,690,000 after buying an additional 39,470 shares during the period. Institutional investors own 86.76% of the company’s stock.

Gentex Price Performance

GNTX opened at $30.19 on Tuesday. The stock has a market capitalization of $6.87 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 0.97 and a beta of 0.91. The company’s 50 day simple moving average is $29.88 and its 200-day simple moving average is $31.89. Gentex Co. has a one year low of $28.30 and a one year high of $37.58.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, October 9th. This represents a $0.48 annualized dividend and a yield of 1.59%. Gentex’s dividend payout ratio is currently 25.67%.

Insider Buying and Selling at Gentex

In other Gentex news, major shareholder Corp Gentex purchased 3,152,500 shares of the stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the transaction, the insider now directly owns 6,463,808 shares in the company, valued at $32,319,040. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on GNTX shares. B. Riley dropped their price objective on Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Monday, July 29th. JPMorgan Chase & Co. dropped their target price on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. UBS Group began coverage on shares of Gentex in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price target on the stock. Robert W. Baird raised their price objective on shares of Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Finally, Bank of America cut their target price on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Gentex presently has an average rating of “Hold” and a consensus target price of $36.00.

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.