Gentex Corporation $GNTX Shares Purchased by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board increased its holdings in Gentex Corporation (NASDAQ:GNTX) by 41.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,895 shares of the auto parts company’s stock after buying an additional 25,083 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Gentex were worth $2,403,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GNTX. Studio Investment Management LLC purchased a new stake in shares of Gentex in the 3rd quarter valued at $284,000. Merit Financial Group LLC boosted its holdings in Gentex by 42.5% in the third quarter. Merit Financial Group LLC now owns 30,006 shares of the auto parts company’s stock valued at $849,000 after purchasing an additional 8,947 shares during the last quarter. JPMorgan Chase & Co. grew its position in Gentex by 21.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,725,426 shares of the auto parts company’s stock worth $190,330,000 after purchasing an additional 1,206,060 shares during the period. Hardy Reed LLC purchased a new position in shares of Gentex during the 3rd quarter valued at about $248,000. Finally, Taylor Hoffman Capital Management LLC lifted its holdings in shares of Gentex by 9.3% in the 3rd quarter. Taylor Hoffman Capital Management LLC now owns 190,017 shares of the auto parts company’s stock valued at $5,377,000 after buying an additional 16,091 shares during the period. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Gentex Trading Down 0.3%

Shares of GNTX opened at $24.54 on Thursday. Gentex Corporation has a 12-month low of $20.28 and a 12-month high of $29.38. The firm has a market capitalization of $5.37 billion, a P/E ratio of 14.10 and a beta of 0.78. The firm has a 50-day moving average price of $23.91 and a 200 day moving average price of $25.20.

Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, January 30th. The auto parts company reported $0.43 EPS for the quarter, hitting analysts’ consensus estimates of $0.43. Gentex had a net margin of 15.19% and a return on equity of 16.05%. The company had revenue of $644.40 million for the quarter, compared to the consensus estimate of $650.90 million. During the same period in the previous year, the firm earned $0.39 earnings per share. Gentex’s quarterly revenue was up 19.0% compared to the same quarter last year. Equities research analysts predict that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Wednesday, January 7th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, January 7th. This represents a $0.48 annualized dividend and a yield of 2.0%. Gentex’s dividend payout ratio (DPR) is 27.59%.

Wall Street Analysts Forecast Growth

GNTX has been the topic of several recent research reports. Robert W. Baird set a $26.00 price objective on Gentex in a research report on Wednesday, January 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gentex in a research note on Thursday, January 22nd. The Goldman Sachs Group set a $27.00 price objective on Gentex and gave the stock a “neutral” rating in a research note on Monday, October 27th. UBS Group set a $25.00 target price on Gentex in a report on Monday, February 2nd. Finally, B. Riley Financial lowered their price target on Gentex from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $26.71.

Gentex Company Profile

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).