Charles Schwab Investment Management Inc. Increases Stake in Gentex Co. (NASDAQ:GNTX)

Charles Schwab Investment Management Inc. grew its stake in Gentex Co. (NASDAQ:GNTX) by 0.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,554,823 shares of the auto parts company’s stock after buying an additional 6,106 shares during the period. Charles Schwab Investment Management Inc. owned 0.68% of Gentex worth $46,163,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new position in Gentex in the second quarter worth $31,000. Gladius Capital Management LP purchased a new stake in shares of Gentex during the 2nd quarter worth approximately $34,000. EverSource Wealth Advisors LLC boosted its stake in shares of Gentex by 173.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock worth $42,000 after acquiring an additional 850 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Gentex by 227.8% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock valued at $54,000 after purchasing an additional 1,269 shares during the last quarter. Finally, HHM Wealth Advisors LLC purchased a new position in Gentex during the 2nd quarter valued at about $67,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GNTX. Bank of America dropped their price target on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. UBS Group began coverage on Gentex in a report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 target price for 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. Robert W. Baird lifted their target price on 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 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $35.13.

Gentex Stock Performance

Shares of NASDAQ GNTX opened at $30.56 on Monday. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.08 and a beta of 0.91. Gentex Co. has a 52 week low of $28.30 and a 52 week high of $37.58. The business has a 50 day simple moving average of $30.05 and a 200 day simple moving average of $31.46.

Gentex Announces Dividend

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