Synovus Financial Corp Buys 25,693 Shares of Gentex Co. (NASDAQ:GNTX)

Synovus Financial Corp lifted its stake in shares of Gentex Co. (NASDAQ:GNTX) by 119.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 47,136 shares of the auto parts company’s stock after acquiring an additional 25,693 shares during the period. Synovus Financial Corp’s holdings in Gentex were worth $1,400,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. EdgePoint Investment Group Inc. grew its stake in shares of Gentex by 1.5% during the third quarter. EdgePoint Investment Group Inc. now owns 7,699,919 shares of the auto parts company’s stock worth $228,611,000 after buying an additional 111,500 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Gentex by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company’s stock valued at $159,406,000 after acquiring an additional 285,802 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its position in Gentex by 5.5% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 4,493,914 shares of the auto parts company’s stock worth $133,424,000 after acquiring an additional 234,083 shares during the last quarter. 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. Finally, Dimensional Fund Advisors LP increased its holdings in Gentex by 14.0% in the 2nd 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 in the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Gentex Stock Up 0.0 %

GNTX stock opened at $30.59 on Monday. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 1.09 and a beta of 0.91. The company’s fifty day simple moving average is $30.13 and its 200 day simple moving average is $31.19. Gentex Co. has a 12-month low of $28.30 and a 12-month high of $37.58.

Gentex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th will be paid a $0.12 dividend. 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 25.67%.

Gentex 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.