Verition Fund Management LLC Takes Position in Gentex Co. (NASDAQ:GNTX)

Verition Fund Management LLC purchased a new position in shares of Gentex Co. (NASDAQ:GNTX) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 12,311 shares of the auto parts company’s stock, valued at approximately $366,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GNTX. Quest Partners LLC acquired a new position in shares of Gentex during the second quarter valued at approximately $31,000. EverSource Wealth Advisors LLC lifted its holdings in Gentex by 173.1% in 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 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. HHM Wealth Advisors LLC purchased a new stake in shares of Gentex during the second quarter worth $67,000. Finally, KBC Group NV raised its position in shares of Gentex by 13.3% in the third quarter. KBC Group NV now owns 5,664 shares of the auto parts company’s stock valued at $168,000 after buying an additional 667 shares during the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Trading Up 0.0 %

Shares of NASDAQ:GNTX opened at $30.59 on Friday. The company has a market capitalization of $6.96 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 1.09 and a beta of 0.91. Gentex Co. has a 12-month low of $28.30 and a 12-month high of $37.58. The business has a 50-day moving average price of $30.10 and a 200 day moving average price of $31.26.

Gentex Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Wednesday, January 8th. Gentex’s dividend payout ratio is presently 25.67%.

Analyst Ratings Changes

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

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.