JPMorgan Chase & Co. Purchases 1,285,519 Shares of Gentex Co. (NASDAQ:GNTX)

JPMorgan Chase & Co. boosted its position in Gentex Co. (NASDAQ:GNTX) by 179.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,000,796 shares of the auto parts company’s stock after purchasing an additional 1,285,519 shares during the period. JPMorgan Chase & Co. owned about 0.88% of Gentex worth $59,404,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in GNTX. Quest Partners LLC purchased a new position in Gentex during the second quarter valued at $31,000. EverSource Wealth Advisors LLC raised its stake in shares of Gentex by 173.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock worth $42,000 after buying an additional 850 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Gentex by 227.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock valued at $54,000 after buying an additional 1,269 shares in the last quarter. HHM Wealth Advisors LLC purchased a new position in shares of Gentex during the 2nd quarter valued at about $67,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Gentex in the 3rd quarter worth approximately $125,000. 86.76% of the stock is currently owned by institutional investors.

Gentex Price Performance

NASDAQ GNTX opened at $28.04 on Friday. The stock has a market capitalization of $6.38 billion, a PE ratio of 14.99, a P/E/G ratio of 1.08 and a beta of 0.91. Gentex Co. has a 1-year low of $27.83 and a 1-year high of $37.58. The business has a 50 day simple moving average of $30.02 and a two-hundred day simple moving average of $30.68.

Gentex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Wednesday, January 8th. Gentex’s dividend payout ratio is presently 25.67%.

Analyst Ratings Changes

GNTX has been the topic of several analyst reports. 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. Guggenheim dropped their target price on shares of Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, November 21st. The Goldman Sachs Group decreased their price target on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Finally, Robert W. Baird upped their price objective on Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Six 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, the stock currently has an average rating of “Hold” and a consensus price target of $35.13.

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.