FORA Capital LLC Invests $846,000 in Gentex Co. (NASDAQ:GNTX)

FORA Capital LLC purchased a new stake in Gentex Co. (NASDAQ:GNTX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 28,502 shares of the auto parts company’s stock, valued at approximately $846,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GNTX. Price T Rowe Associates Inc. MD raised its stake in Gentex by 6.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 124,399 shares of the auto parts company’s stock valued at $4,495,000 after purchasing an additional 7,304 shares during the period. Comerica Bank boosted its position in Gentex by 96.4% during the 1st quarter. Comerica Bank now owns 247,013 shares of the auto parts company’s stock worth $8,922,000 after acquiring an additional 121,269 shares during the period. iA Global Asset Management Inc. purchased a new position in Gentex during the first quarter valued at approximately $668,000. LRI Investments LLC acquired a new position in shares of Gentex in the first quarter worth $93,000. Finally, Cetera Investment Advisers grew its stake in Gentex by 91.0% in the first quarter. Cetera Investment Advisers now owns 127,876 shares of the auto parts company’s stock valued at $4,619,000 after purchasing an additional 60,934 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Gentex Stock Performance

Shares of NASDAQ:GNTX 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 company has a market cap of $6.95 billion, a P/E ratio of 16.35, a P/E/G ratio of 1.09 and a beta of 0.91. The stock’s 50-day moving average is $30.03 and its 200-day moving average is $31.54.

Gentex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be given a $0.12 dividend. 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 dividend payout ratio is currently 25.67%.

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.