Commerce Bank Increases Stake in Gentex Co. (NASDAQ:GNTX)

Commerce Bank increased its holdings in Gentex Co. (NASDAQ:GNTX) by 20.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,468 shares of the auto parts company’s stock after purchasing an additional 2,827 shares during the quarter. Commerce Bank’s holdings in Gentex were worth $489,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Boston Partners increased its holdings in shares of Gentex by 4.2% in the first quarter. Boston Partners now owns 5,706,411 shares of the auto parts company’s stock worth $206,095,000 after buying an additional 230,873 shares during the period. Burgundy Asset Management Ltd. grew its position in Gentex by 3.0% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,343,880 shares of the auto parts company’s stock worth $146,432,000 after acquiring an additional 126,416 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its stake in Gentex by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 4,259,831 shares of the auto parts company’s stock worth $143,599,000 after purchasing an additional 43,457 shares during the period. Dimensional Fund Advisors LP lifted its position in Gentex by 14.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,989,248 shares of the auto parts company’s stock valued at $134,475,000 after purchasing an additional 489,689 shares during the last quarter. Finally, Epoch Investment Partners Inc. boosted its stake in shares of Gentex by 8.7% during the second quarter. Epoch Investment Partners Inc. now owns 3,222,359 shares of the auto parts company’s stock valued at $108,626,000 after purchasing an additional 259,109 shares during the period. 86.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. The Goldman Sachs Group decreased their target price on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. Bank of America dropped their target price on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Robert W. Baird boosted their price target on Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, October 28th. UBS Group began coverage on Gentex in a report on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price objective for the company. Finally, BNP Paribas lowered 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. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.13.

Gentex Stock Performance

Shares of NASDAQ:GNTX opened at $30.88 on Wednesday. The firm has a market capitalization of $7.02 billion, a P/E ratio of 16.51, a P/E/G ratio of 1.07 and a beta of 0.91. The stock has a 50 day moving average price of $29.99 and a 200-day moving average price of $31.55. Gentex Co. has a 52-week low of $28.30 and a 52-week high of $37.58.

Gentex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.55%. Gentex’s dividend payout ratio is currently 25.67%.

Gentex Company 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.