KBC Group NV Boosts Stake in Gentex Co. (NASDAQ:GNTX)

KBC Group NV boosted its position in shares of Gentex Co. (NASDAQ:GNTX) by 13.3% in the third quarter, HoldingsChannel reports. The fund owned 5,664 shares of the auto parts company’s stock after purchasing an additional 667 shares during the quarter. KBC Group NV’s holdings in Gentex were worth $168,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Quest Partners LLC purchased a new stake in Gentex during the 2nd quarter valued at about $31,000. Gladius Capital Management LP acquired a new position in Gentex during the second quarter worth $34,000. EverSource Wealth Advisors LLC increased its stake in Gentex by 173.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock worth $42,000 after buying an additional 850 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Gentex by 227.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock worth $54,000 after purchasing an additional 1,269 shares during the last quarter. Finally, HHM Wealth Advisors LLC acquired a new stake in Gentex in the 2nd quarter valued at about $67,000. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GNTX shares. BNP Paribas cut shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target for the company. in a research note on Tuesday, July 30th. Bank of America lowered their target price on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. UBS Group started coverage on shares of Gentex in a research note on Wednesday, September 4th. They set a “neutral” rating and a $34.00 target price for the company. The Goldman Sachs Group reduced their price target on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. Finally, B. Riley dropped their price target on Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $36.00.

Gentex Stock Up 1.5 %

Shares of GNTX stock opened at $29.50 on Thursday. Gentex Co. has a 52-week low of $28.30 and a 52-week high of $37.58. The stock’s 50-day moving average price is $29.87 and its 200 day moving average price is $31.70. The stock has a market capitalization of $6.71 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 0.97 and a beta of 0.91.

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Wednesday, October 9th. Gentex’s dividend payout ratio (DPR) is presently 25.67%.

Insider Buying and Selling

In other news, major shareholder Corp Gentex acquired 3,152,500 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $5.00 per share, with a total value of $15,762,500.00. Following the purchase, the insider now owns 6,463,808 shares of the company’s stock, valued at $32,319,040. This represents a 95.20 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.41% of the company’s stock.

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.