Thrivent Financial for Lutherans Raises Stake in Gentex Co. (NASDAQ:GNTX)

Thrivent Financial for Lutherans lifted its position in Gentex Co. (NASDAQ:GNTX) by 10.1% in the third quarter, HoldingsChannel.com reports. The firm owned 392,445 shares of the auto parts company’s stock after purchasing an additional 36,134 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Gentex were worth $11,651,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of research firms have issued reports on GNTX. Guggenheim reduced their price objective on Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday. B. Riley reduced their target price on shares of Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. The Goldman Sachs Group lowered their target price on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. BNP Paribas lowered shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research report on Tuesday, July 30th. Finally, Bank of America decreased their price objective 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 MarketBeat.com, Gentex currently has a consensus rating of “Hold” and a consensus target price of $35.13.

Gentex Trading Up 1.3 %

Shares of NASDAQ GNTX opened at $29.88 on Friday. The company has a 50 day simple moving average of $29.89 and a two-hundred day simple moving average of $31.68. The stock has a market cap of $6.80 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 0.94 and a beta of 0.91. Gentex Co. has a 12 month low of $28.30 and a 12 month high of $37.58.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were paid a $0.12 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.61%. Gentex’s payout ratio is 25.67%.

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.