XXEC Inc. Purchases 44,652 Shares of Gentex Co. (NASDAQ:GNTX)

XXEC Inc. raised its position in Gentex Co. (NASDAQ:GNTX) by 35.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 172,306 shares of the auto parts company’s stock after purchasing an additional 44,652 shares during the period. Gentex makes up about 3.9% of XXEC Inc.’s investment portfolio, making the stock its 14th biggest holding. XXEC Inc.’s holdings in Gentex were worth $5,116,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of GNTX. Boston Partners raised its stake in Gentex by 4.2% during the 1st 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. TD Asset Management Inc increased its holdings in shares of Gentex by 41.2% in the first quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock worth $168,957,000 after acquiring an additional 1,363,898 shares in the last quarter. Burgundy Asset Management Ltd. raised its position in shares of Gentex by 3.0% during the second quarter. Burgundy Asset Management Ltd. now owns 4,343,880 shares of the auto parts company’s stock worth $146,432,000 after purchasing an additional 126,416 shares during the period. Disciplined Growth Investors Inc. MN raised its position in shares of Gentex by 1.0% during the second 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. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Gentex by 14.0% during the 2nd 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 in the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Gentex

In related news, major shareholder Corp Gentex acquired 3,152,500 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of $5.00 per share, for a total transaction of $15,762,500.00. Following the completion of the acquisition, the insider now directly owns 6,463,808 shares in the company, valued at approximately $32,319,040. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.41% of the stock is owned by company insiders.

Gentex Stock Up 0.1 %

Shares of NASDAQ GNTX opened at $30.19 on Tuesday. The business’s 50 day moving average price is $29.88 and its two-hundred day moving average price is $31.89. The company has a market cap of $6.87 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 0.97 and a beta of 0.91. Gentex Co. has a twelve month low of $28.30 and a twelve month high of $37.58.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Wednesday, October 9th. Gentex’s payout ratio is presently 25.67%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. The Goldman Sachs Group lowered their target price on Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st. UBS Group started coverage on shares of Gentex in a report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price objective on the stock. BNP Paribas lowered shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 target price for the company. in a research note on Tuesday, July 30th. JPMorgan Chase & Co. dropped their price target on Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Finally, B. Riley reduced their price objective on Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Monday, July 29th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $36.00.

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.