TD Asset Management Inc cut its position in Gentex Co. (NASDAQ:GNTX – Free Report) by 1.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,069,200 shares of the auto parts company’s stock after selling 33,946 shares during the quarter. TD Asset Management Inc owned about 0.89% of Gentex worth $60,545,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. raised its holdings in shares of Gentex by 8.3% during the 1st quarter. American Century Companies Inc. now owns 45,689 shares of the auto parts company’s stock worth $1,332,000 after buying an additional 3,492 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Gentex by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 86,682 shares of the auto parts company’s stock valued at $2,529,000 after purchasing an additional 8,265 shares in the last quarter. BlackRock Inc. boosted its position in shares of Gentex by 0.9% during the 1st quarter. BlackRock Inc. now owns 20,990,163 shares of the auto parts company’s stock valued at $612,282,000 after purchasing an additional 190,797 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in Gentex by 10.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 137,269 shares of the auto parts company’s stock worth $4,117,000 after buying an additional 12,625 shares during the period. Finally, Raymond James Trust N.A. raised its stake in Gentex by 40.9% during the 1st quarter. Raymond James Trust N.A. now owns 8,688 shares of the auto parts company’s stock worth $253,000 after buying an additional 2,524 shares during the period. 84.60% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on GNTX. JPMorgan Chase & Co. increased their price objective on Gentex from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, July 20th. Robert W. Baird raised their price target on Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, July 31st. B. Riley raised their price target on Gentex from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, July 31st. Finally, StockNews.com initiated coverage on Gentex in a report on Thursday, October 5th. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.20.
Gentex Stock Up 3.1 %
Shares of Gentex stock opened at $30.59 on Wednesday. The firm has a market cap of $7.14 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 0.74 and a beta of 0.98. The business has a 50-day moving average price of $31.02 and a 200-day moving average price of $30.31. Gentex Co. has a twelve month low of $25.77 and a twelve month high of $34.33.
Gentex (NASDAQ:GNTX – Get Free Report) last announced its quarterly earnings results on Friday, October 27th. The auto parts company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. Gentex had a net margin of 18.04% and a return on equity of 18.38%. The firm had revenue of $575.85 million during the quarter, compared to the consensus estimate of $567.57 million. During the same quarter last year, the firm earned $0.31 EPS. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. On average, equities analysts expect that Gentex Co. will post 1.77 EPS for the current fiscal year.
Gentex Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 18th. Shareholders of record on Friday, October 6th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $0.48 annualized dividend and a dividend yield of 1.57%. Gentex’s dividend payout ratio (DPR) is presently 28.07%.
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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