Gentex Co. (NASDAQ:GNTX) Shares Purchased by TD Asset Management Inc

TD Asset Management Inc boosted its position in shares of Gentex Co. (NASDAQ:GNTX) by 41.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,677,655 shares of the auto parts company’s stock after purchasing an additional 1,363,898 shares during the quarter. TD Asset Management Inc owned approximately 2.02% of Gentex worth $168,957,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Neo Ivy Capital Management acquired a new position in Gentex in the fourth quarter valued at $29,000. National Bank of Canada FI increased its stake in Gentex by 159.1% during the fourth quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock worth $30,000 after acquiring an additional 571 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Gentex in the fourth quarter valued at about $46,000. Global Retirement Partners LLC grew its stake in shares of Gentex by 371.3% in the fourth quarter. Global Retirement Partners LLC now owns 2,738 shares of the auto parts company’s stock valued at $89,000 after buying an additional 2,157 shares in the last quarter. Finally, Natixis Investment Managers International boosted its holdings in Gentex by 34.0% in the fourth quarter. Natixis Investment Managers International now owns 3,395 shares of the auto parts company’s stock valued at $111,000 after purchasing an additional 861 shares during the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Gentex

In related news, Director Joseph B. Anderson, Jr. sold 4,716 shares of Gentex stock in a transaction on Monday, May 20th. The stock was sold at an average price of $34.46, for a total transaction of $162,513.36. Following the completion of the sale, the director now owns 3,764 shares of the company’s stock, valued at $129,707.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.41% of the stock is currently owned by insiders.

Gentex Stock Performance

Shares of GNTX stock traded up $0.20 during mid-day trading on Thursday, hitting $34.94. 236,486 shares of the stock traded hands, compared to its average volume of 1,367,993. Gentex Co. has a twelve month low of $27.86 and a twelve month high of $37.58. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 0.99 and a beta of 0.93. The company’s 50-day simple moving average is $34.23 and its 200-day simple moving average is $34.49.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, April 26th. The auto parts company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). The company had revenue of $590.23 million for the quarter, compared to the consensus estimate of $600.38 million. Gentex had a return on equity of 19.19% and a net margin of 18.77%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 earnings per share. Analysts forecast that Gentex Co. will post 2.11 earnings per share for the current year.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 17th. Stockholders of record on Friday, July 5th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $0.48 annualized dividend and a dividend yield of 1.37%. Gentex’s dividend payout ratio (DPR) is presently 25.40%.

Analysts Set New Price Targets

A number of research analysts have commented on GNTX shares. Guggenheim increased their target price on Gentex from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. StockNews.com downgraded Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. B. Riley raised their price target on Gentex from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Robert W. Baird cut their price target on Gentex from $41.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, July 12th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Gentex has an average rating of “Moderate Buy” and a consensus target price of $39.40.

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.