Truist Financial Corp raised its position in Gentex Co. (NASDAQ:GNTX – Free Report) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 666,295 shares of the auto parts company’s stock after purchasing an additional 10,900 shares during the period. Truist Financial Corp owned about 0.28% of Gentex worth $18,676,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Trust Investment Advisors purchased a new position in Gentex in the 4th quarter valued at about $446,000. Simplicity Solutions LLC increased its stake in shares of Gentex by 51.7% during the 4th quarter. Simplicity Solutions LLC now owns 19,150 shares of the auto parts company’s stock valued at $522,000 after acquiring an additional 6,530 shares during the last quarter. Simmons Bank acquired a new position in shares of Gentex during the 4th quarter valued at about $205,000. Cubic Asset Management LLC increased its stake in shares of Gentex by 24.3% during the 1st quarter. Cubic Asset Management LLC now owns 35,290 shares of the auto parts company’s stock valued at $989,000 after acquiring an additional 6,900 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Gentex by 107.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 52,358 shares of the auto parts company’s stock valued at $1,428,000 after acquiring an additional 27,077 shares during the last quarter. 84.96% of the stock is currently owned by hedge funds and other institutional investors.
Gentex Trading Up 1.3 %
Shares of NASDAQ GNTX opened at $34.17 on Tuesday. Gentex Co. has a one year low of $23.28 and a one year high of $34.33. The firm has a market capitalization of $7.98 billion, a PE ratio of 21.76, a PEG ratio of 0.85 and a beta of 0.95. The business has a 50-day moving average price of $29.57 and a two-hundred day moving average price of $28.45.
Gentex Dividend Announcement
Analyst Ratings Changes
GNTX has been the subject of a number of research analyst reports. Bank of America raised shares of Gentex from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $26.00 to $33.00 in a research note on Thursday, July 6th. B. Riley increased their target price on shares of Gentex from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, July 31st. JPMorgan Chase & Co. increased their price objective on shares of Gentex from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, July 20th. StockNews.com assumed coverage on shares of Gentex in a research report on Thursday, May 18th. They issued a “buy” rating for the company. Finally, Robert W. Baird increased their target price on Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.50.
View Our Latest Stock Report on Gentex
Insiders Place Their Bets
In other Gentex news, Director James A. Hollars sold 4,416 shares of the firm’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $28.27, for a total transaction of $124,840.32. Following the completion of the sale, the director now directly owns 36,149 shares in the company, valued at approximately $1,021,932.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Gentex news, Director Kathleen Starkoff sold 4,430 shares of Gentex stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $33.20, for a total value of $147,076.00. Following the transaction, the director now directly owns 21,441 shares of the company’s stock, valued at approximately $711,841.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James A. Hollars sold 4,416 shares of Gentex stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $28.27, for a total value of $124,840.32. Following the completion of the transaction, the director now directly owns 36,149 shares in the company, valued at $1,021,932.23. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.
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, 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.
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