LaFleur & Godfrey LLC Has $7.08 Million Stake in Gentex Co. (GNTX)
LaFleur & Godfrey LLC lessened its position in Gentex Co. (NASDAQ:GNTX) by 2.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 338,060 shares of the auto parts company’s stock after selling 9,105 shares during the period. Gentex comprises about 1.7% of LaFleur & Godfrey LLC’s investment portfolio, making the stock its 22nd biggest holding. LaFleur & Godfrey LLC’s holdings in Gentex were worth $7,082,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Employees Retirement System of Texas lifted its stake in shares of Gentex by 80.5% in the second quarter. Employees Retirement System of Texas now owns 231,000 shares of the auto parts company’s stock worth $4,382,000 after buying an additional 103,000 shares in the last quarter. Vanguard Group Inc. lifted its position in Gentex by 1.6% during the second quarter. Vanguard Group Inc. now owns 23,196,105 shares of the auto parts company’s stock valued at $440,030,000 after purchasing an additional 358,903 shares during the period. Redmond Asset Management LLC lifted its position in Gentex by 7.8% during the third quarter. Redmond Asset Management LLC now owns 97,492 shares of the auto parts company’s stock valued at $1,930,000 after purchasing an additional 7,018 shares during the period. Sprucegrove Investment Management Ltd. lifted its position in Gentex by 34.5% during the third quarter. Sprucegrove Investment Management Ltd. now owns 1,207,300 shares of the auto parts company’s stock valued at $23,905,000 after purchasing an additional 309,800 shares during the period. Finally, Claar Advisors LLC bought a new position in Gentex during the third quarter valued at approximately $9,900,000. Hedge funds and other institutional investors own 81.65% of the company’s stock.
A number of research analysts recently weighed in on the stock. B. Riley restated a “buy” rating on shares of Gentex in a research report on Wednesday, November 1st. Zacks Investment Research upgraded shares of Gentex from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Wednesday, January 10th. KeyCorp restated a “buy” rating and set a $25.00 price objective on shares of Gentex in a research report on Sunday, October 15th. Longbow Research assumed coverage on shares of Gentex in a research report on Friday, January 5th. They set a “buy” rating and a $25.00 price objective on the stock. Finally, ValuEngine upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $22.69.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 17th. Shareholders of record on Friday, January 5th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, January 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.75%. Gentex’s dividend payout ratio is currently 31.75%.
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Gentex Company Profile
Gentex Corporation designs and manufactures automatic-dimming rearview mirrors and electronics for the automotive industry, dimmable aircraft windows for the aviation industry, and commercial smoke alarms and signaling devices for the fire protection industry. The Company’s business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.
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