Quantbot Technologies LP Buys Shares of 82,211 Gentex Co. (NASDAQ:GNTX)

Quantbot Technologies LP bought a new stake in shares of Gentex Co. (NASDAQ:GNTX) during the third quarter, Holdings Channel reports. The fund bought 82,211 shares of the auto parts company’s stock, valued at approximately $2,441,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Citigroup Inc. increased its position in Gentex by 327.8% during the 3rd quarter. Citigroup Inc. now owns 483,842 shares of the auto parts company’s stock valued at $14,365,000 after purchasing an additional 370,746 shares during the period. Raymond James Trust N.A. increased its position in Gentex by 56.2% during the 3rd quarter. Raymond James Trust N.A. now owns 16,427 shares of the auto parts company’s stock valued at $488,000 after purchasing an additional 5,908 shares during the period. Charles Schwab Investment Management Inc. increased its position in Gentex by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,554,823 shares of the auto parts company’s stock valued at $46,163,000 after purchasing an additional 6,106 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Gentex by 155.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 136,020 shares of the auto parts company’s stock valued at $4,038,000 after buying an additional 82,701 shares in the last quarter. Finally, Commerce Bank boosted its holdings in shares of Gentex by 20.7% in the 3rd quarter. Commerce Bank now owns 16,468 shares of the auto parts company’s stock valued at $489,000 after buying an additional 2,827 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Stock Down 1.0 %

GNTX stock opened at $30.57 on Friday. Gentex Co. has a 52 week low of $28.30 and a 52 week high of $37.58. The firm has a 50 day moving average of $30.03 and a 200 day moving average of $31.54. The stock has a market capitalization of $6.95 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 1.09 and a beta of 0.91.

Gentex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Wednesday, January 8th. Gentex’s payout ratio is 25.67%.

Wall Street Analysts Forecast Growth

GNTX has been the topic of a number of recent analyst reports. The Goldman Sachs Group lowered their price target on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. UBS Group initiated coverage on shares of Gentex in a report on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price target on the stock. Robert W. Baird raised their price target on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, October 28th. 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 report on Monday, October 14th. Finally, Guggenheim lowered their price target on shares of Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Gentex currently has an average rating of “Hold” and a consensus 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.