Inspire Investing LLC Acquires 14,989 Shares of Gentex Co. (NASDAQ:GNTX)

Inspire Investing LLC raised its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 36.9% in the fourth quarter, HoldingsChannel reports. The firm owned 55,655 shares of the auto parts company’s stock after buying an additional 14,989 shares during the quarter. Inspire Investing LLC’s holdings in Gentex were worth $1,599,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GNTX. JPMorgan Chase & Co. lifted its stake in Gentex by 179.7% in the third quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company’s stock worth $59,404,000 after acquiring an additional 1,285,519 shares during the period. Geode Capital Management LLC boosted its stake 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 purchasing an additional 285,802 shares in the last quarter. Barclays PLC increased its position in shares of Gentex by 54.4% during the third quarter. Barclays PLC now owns 107,930 shares of the auto parts company’s stock valued at $3,205,000 after buying an additional 38,027 shares during the period. Disciplined Growth Investors Inc. MN raised its stake in Gentex by 1.0% in 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 buying an additional 43,457 shares in the last quarter. Finally, Reinhart Partners LLC. lifted its holdings in Gentex by 1.9% in the fourth quarter. Reinhart Partners LLC. now owns 1,124,403 shares of the auto parts company’s stock worth $32,304,000 after buying an additional 20,624 shares during the period. 86.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GNTX. The Goldman Sachs Group dropped their target price 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. 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. Robert W. Baird increased their price target on shares of Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Finally, Guggenheim cut their price objective on shares of Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Gentex presently has a consensus rating of “Hold” and a consensus target price of $35.13.

Gentex Stock Performance

NASDAQ GNTX opened at $28.01 on Thursday. The company has a market cap of $6.37 billion, a P/E ratio of 14.98, a P/E/G ratio of 0.88 and a beta of 0.91. The business’s 50 day moving average price is $29.23 and its 200-day moving average price is $30.09. Gentex Co. has a fifty-two week low of $26.58 and a fifty-two week high of $37.58.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, January 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.71%. Gentex’s dividend payout ratio is presently 25.67%.

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.