Gentex Co. (NASDAQ:GNTX) Shares Acquired by Comerica Bank

Comerica Bank grew its position in Gentex Co. (NASDAQ:GNTX) by 96.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 247,013 shares of the auto parts company’s stock after purchasing an additional 121,269 shares during the period. Comerica Bank owned approximately 0.11% of Gentex worth $8,922,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GNTX. Neo Ivy Capital Management acquired a new position in shares of Gentex in the fourth quarter valued at about $29,000. National Bank of Canada FI grew its holdings in Gentex by 159.1% during the fourth quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock worth $30,000 after acquiring an additional 571 shares during the period. GAMMA Investing LLC acquired a new stake in Gentex during the fourth quarter worth about $46,000. Global Retirement Partners LLC grew its holdings in Gentex by 371.3% during the fourth quarter. Global Retirement Partners LLC now owns 2,738 shares of the auto parts company’s stock worth $89,000 after acquiring an additional 2,157 shares during the period. Finally, LRI Investments LLC acquired a new stake in Gentex during the first quarter worth about $93,000. 86.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Joseph B. Anderson, Jr. sold 4,716 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $34.46, for a total value of $162,513.36. Following the transaction, the director now owns 3,764 shares in the company, valued at $129,707.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Robert W. Baird dropped their target price on Gentex from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Monday. JPMorgan Chase & Co. dropped their target price on Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. StockNews.com lowered Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. BNP Paribas lowered Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 target price on the stock. in a report on Tuesday. Finally, Guggenheim increased their price target on Gentex from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $37.33.

Gentex Price Performance

GNTX stock traded down $0.51 during mid-day trading on Friday, reaching $29.95. 444,508 shares of the company’s stock were exchanged, compared to its average volume of 1,400,704. The company has a market cap of $6.92 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 0.93 and a beta of 0.93. The stock’s 50 day moving average is $33.71 and its 200 day moving average is $34.49. Gentex Co. has a 12-month low of $27.86 and a 12-month high of $37.58.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 17th. Stockholders of record on Friday, July 5th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $0.48 annualized dividend and a dividend yield of 1.60%. Gentex’s dividend payout ratio (DPR) is presently 25.40%.

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.