Harbor Capital Advisors Inc. Boosts Stock Position in Gentex Co. (NASDAQ:GNTX)

Harbor Capital Advisors Inc. grew its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 104.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 81,506 shares of the auto parts company’s stock after purchasing an additional 41,732 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Gentex were worth $2,420,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GNTX. Scharf Investments LLC boosted its holdings in Gentex by 36,001.4% in the second quarter. Scharf Investments LLC now owns 2,278,357 shares of the auto parts company’s stock valued at $76,803,000 after purchasing an additional 2,272,046 shares during the last quarter. TD Asset Management Inc grew its stake 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 purchasing an additional 1,363,898 shares in the last quarter. Motley Fool Asset Management LLC raised its holdings in Gentex by 287.7% during the first quarter. Motley Fool Asset Management LLC now owns 1,204,152 shares of the auto parts company’s stock worth $43,494,000 after purchasing an additional 893,552 shares in the last quarter. Epoch Investment Partners Inc. raised its holdings in shares of Gentex by 32.6% in the 1st quarter. Epoch Investment Partners Inc. now owns 2,963,250 shares of the auto parts company’s stock worth $107,033,000 after purchasing an additional 727,913 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Gentex by 14.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,989,248 shares of the auto parts company’s stock worth $134,475,000 after purchasing an additional 489,689 shares during the period. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Stock Down 1.4 %

Shares of NASDAQ GNTX opened at $30.09 on Tuesday. The company has a market cap of $6.93 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 0.98 and a beta of 0.91. Gentex Co. has a twelve month low of $28.30 and a twelve month high of $37.58. The business’s 50 day moving average price is $29.95 and its two-hundred day moving average price is $32.04.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.60%. Gentex’s payout ratio is presently 25.67%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group dropped their target price on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. 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 note on Tuesday, July 30th. Bank of America dropped their price objective on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. B. Riley cut their target price on Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Monday, July 29th. Finally, Robert W. Baird lifted their price objective on Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $36.00.

Insiders Place Their Bets

In other news, major shareholder Corp Gentex acquired 3,152,500 shares of Gentex 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 purchase, the insider now directly owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.41% of the company’s stock.

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.