TD Asset Management Inc Sells 1,595,181 Shares of Gentex Corporation $GNTX

TD Asset Management Inc reduced its position in Gentex Corporation (NASDAQ:GNTX) by 38.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,587,362 shares of the auto parts company’s stock after selling 1,595,181 shares during the quarter. TD Asset Management Inc’s holdings in Gentex were worth $60,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of GNTX. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Gentex during the third quarter worth $38,000. Employees Retirement System of Texas bought a new position in shares of Gentex during the fourth quarter worth $56,000. Clearstead Advisors LLC boosted its position in shares of Gentex by 82.3% during the third quarter. Clearstead Advisors LLC now owns 2,042 shares of the auto parts company’s stock worth $58,000 after acquiring an additional 922 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of Gentex by 2,420.7% during the third quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company’s stock worth $58,000 after acquiring an additional 1,985 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in shares of Gentex during the fourth quarter worth $63,000. 86.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Gentex

In other Gentex news, Director Joseph B. Anderson, Jr. sold 5,939 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian C. Walker sold 5,939 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. Following the transaction, the director owned 24,205 shares of the company’s stock, valued at $556,230.90. This trade represents a 19.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 16,693 shares of company stock worth $385,194 over the last 90 days. 0.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. B. Riley Financial restated a “buy” rating and set a $29.00 target price (up from $28.00) on shares of Gentex in a research report on Monday, April 27th. UBS Group set a $26.00 target price on shares of Gentex in a research report on Sunday, April 26th. Robert W. Baird upped their target price on shares of Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Freedom Capital upgraded shares of Gentex to a “strong-buy” rating in a research report on Friday, March 27th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Gentex in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $26.83.

Gentex Stock Down 1.7%

GNTX stock opened at $24.63 on Friday. Gentex Corporation has a 52 week low of $20.48 and a 52 week high of $29.38. The company has a fifty day simple moving average of $22.94 and a two-hundred day simple moving average of $23.14. The firm has a market capitalization of $5.24 billion, a P/E ratio of 13.84 and a beta of 0.79.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, April 24th. The auto parts company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.44 by $0.04. Gentex had a net margin of 14.75% and a return on equity of 16.27%. The business had revenue of $675.44 million during the quarter, compared to analyst estimates of $649.42 million. During the same quarter last year, the business earned $0.42 earnings per share. Gentex’s quarterly revenue was up 17.1% compared to the same quarter last year. As a group, analysts anticipate that Gentex Corporation will post 1.96 EPS for the current year.

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, July 8th. This represents a $0.48 annualized dividend and a yield of 1.9%. Gentex’s dividend payout ratio (DPR) is 26.97%.

Gentex 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).