Quantinno Capital Management LP Raises Position in Gentex Co. (NASDAQ:GNTX)

Quantinno Capital Management LP boosted its holdings in Gentex Co. (NASDAQ:GNTX) by 17.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,028 shares of the auto parts company’s stock after acquiring an additional 3,026 shares during the quarter. Quantinno Capital Management LP’s holdings in Gentex were worth $595,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GNTX. Readystate Asset Management LP bought a new position in Gentex during the third quarter valued at approximately $871,000. Motley Fool Asset Management LLC boosted its position in Gentex by 0.7% in the third quarter. Motley Fool Asset Management LLC now owns 287,121 shares of the auto parts company’s stock worth $8,461,000 after purchasing an additional 1,917 shares during the last quarter. Invenomic Capital Management LP purchased a new position in Gentex in the third quarter worth about $4,358,000. Holocene Advisors LP lifted its stake in shares of Gentex by 701.2% in the 3rd quarter. Holocene Advisors LP now owns 91,703 shares of the auto parts company’s stock worth $2,723,000 after purchasing an additional 80,258 shares during the period. Finally, Centiva Capital LP bought a new stake in Gentex during the third quarter valued at approximately $806,000. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GNTX. The Goldman Sachs Group decreased their target price on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. 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 report on Thursday, November 21st. Bank of America cut their target price on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Robert W. Baird increased their price objective on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Finally, UBS Group started coverage on shares of Gentex in a research report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 target price for the company. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Gentex currently has an average rating of “Hold” and a consensus target price of $35.13.

Gentex Stock Performance

Shares of NASDAQ GNTX opened at $30.59 on Friday. Gentex Co. has a fifty-two week low of $28.30 and a fifty-two week high of $37.58. The company has a market cap of $6.96 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 1.09 and a beta of 0.91. The business’s 50 day moving average price is $30.13 and its 200-day moving average price is $31.21.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Wednesday, January 8th. Gentex’s dividend payout ratio is currently 25.67%.

About Gentex

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.