Riverbridge Partners LLC increased its stake in shares of Gentex Co. (NASDAQ:GNTX – Get Rating) by 1.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,522,442 shares of the auto parts company’s stock after purchasing an additional 24,099 shares during the period. Riverbridge Partners LLC’s holdings in Gentex were worth $42,583,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Gentex by 0.9% in the 1st quarter. BlackRock Inc. now owns 20,990,163 shares of the auto parts company’s stock valued at $612,282,000 after acquiring an additional 190,797 shares during the last quarter. Ariel Investments LLC lifted its holdings in shares of Gentex by 92.4% in the first quarter. Ariel Investments LLC now owns 8,174,011 shares of the auto parts company’s stock valued at $238,436,000 after buying an additional 3,925,355 shares during the period. State Street Corp raised its position in shares of Gentex by 4.0% during the first quarter. State Street Corp now owns 6,564,267 shares of the auto parts company’s stock worth $191,480,000 after purchasing an additional 249,822 shares during the period. Cooke & Bieler LP raised its position in shares of Gentex by 37.9% during the first quarter. Cooke & Bieler LP now owns 5,332,397 shares of the auto parts company’s stock worth $155,546,000 after purchasing an additional 1,466,490 shares during the period. Finally, Beutel Goodman & Co Ltd. raised its position in shares of Gentex by 18.1% during the first quarter. Beutel Goodman & Co Ltd. now owns 4,978,316 shares of the auto parts company’s stock worth $145,217,000 after purchasing an additional 762,037 shares during the period. 86.54% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on GNTX shares. TheStreet lowered Gentex from a “b-” rating to a “c” rating in a research report on Friday, July 22nd. Bank of America decreased their target price on Gentex from $31.00 to $30.00 in a research note on Friday, September 9th. Seaport Res Ptn reaffirmed a “buy” rating on shares of Gentex in a report on Sunday, July 31st. B. Riley dropped their target price on Gentex from $37.50 to $35.00 and set a “buy” rating for the company in a report on Monday, July 25th. Finally, StockNews.com cut Gentex from a “buy” rating to a “hold” rating in a report on Saturday, August 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.40.
Gentex Stock Down 0.4 %
Gentex Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 19th. Shareholders of record on Friday, October 7th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, October 6th. This represents a $0.48 annualized dividend and a yield of 1.83%. Gentex’s dividend payout ratio is currently 35.56%.
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, 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.
- Get a free copy of the StockNews.com research report on Gentex (GNTX)
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