Hendershot Investments Inc. raised its stake in Gentex Co. (NASDAQ:GNTX) by 30.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 196,955 shares of the auto parts company’s stock after buying an additional 46,395 shares during the period. Gentex comprises about 1.7% of Hendershot Investments Inc.’s portfolio, making the stock its 24th biggest position. Hendershot Investments Inc. owned 0.07% of Gentex worth $4,126,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GNTX. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Gentex by 7.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,293 shares of the auto parts company’s stock valued at $100,000 after purchasing an additional 368 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Gentex in the 3rd quarter valued at about $105,000. Ffcm LLC acquired a new position in shares of Gentex in the 3rd quarter valued at about $174,000. Verition Fund Management LLC acquired a new position in shares of Gentex in the 2nd quarter valued at about $195,000. Finally, Hikari Power Ltd acquired a new position in shares of Gentex in the 4th quarter valued at about $203,000. Hedge funds and other institutional investors own 81.65% of the company’s stock.
Gentex Co. (NASDAQ GNTX) remained flat at $$22.81 during mid-day trading on Monday. The company had a trading volume of 1,293,700 shares, compared to its average volume of 2,751,777. Gentex Co. has a 1 year low of $16.59 and a 1 year high of $23.14. The firm has a market capitalization of $6,420.00, a price-to-earnings ratio of 18.10, a P/E/G ratio of 1.65 and a beta of 1.22.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 17th. Investors of record on Friday, January 5th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date was Thursday, January 4th. Gentex’s dividend payout ratio (DPR) is currently 31.75%.
A number of research analysts have recently issued reports on GNTX shares. KeyCorp reissued a “buy” rating and issued a $25.00 price objective on shares of Gentex in a research note on Sunday, October 15th. Zacks Investment Research raised Gentex from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Tuesday, October 17th. FBR & Co reissued a “buy” rating and issued a $25.00 price objective on shares of Gentex in a research note on Wednesday, October 18th. Robert W. Baird dropped their price objective on Gentex from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Monday, October 23rd. Finally, B. Riley reaffirmed a “buy” rating on shares of Gentex in a research note on Wednesday, November 1st. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $22.69.
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Gentex Corporation designs and manufactures automatic-dimming rearview mirrors and electronics for the automotive industry, dimmable aircraft windows for the aviation industry, and commercial smoke alarms and signaling devices for the fire protection industry. The Company’s business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.
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