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

TD Asset Management Inc. boosted its holdings in Gentex Co. (NASDAQ:GNTX - Free Report) by 7.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,415,871 shares of the auto parts company's stock after purchasing an additional 356,854 shares during the quarter. TD Asset Management Inc. owned about 2.38% of Gentex worth $155,598,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in shares of Gentex by 179.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company's stock valued at $59,404,000 after acquiring an additional 1,285,519 shares during the period. Bank of New York Mellon Corp grew its holdings in Gentex by 16.1% during the fourth quarter. Bank of New York Mellon Corp now owns 2,787,311 shares of the auto parts company's stock valued at $80,079,000 after purchasing an additional 386,461 shares during the period. Geode Capital Management LLC increased its position in Gentex by 5.6% in the third quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company's stock worth $159,406,000 after buying an additional 285,802 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Gentex in the fourth quarter worth $24,479,000. Finally, BCGM Wealth Management LLC raised its stake in shares of Gentex by 64.2% in the fourth quarter. BCGM Wealth Management LLC now owns 56,743 shares of the auto parts company's stock valued at $1,630,000 after buying an additional 22,180 shares during the period. 86.76% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

Several equities research analysts recently weighed in on GNTX shares. B. Riley reissued a "buy" rating and issued a $32.50 price objective (down previously from $37.00) on shares of Gentex in a report on Monday, February 3rd. Robert W. Baird set a $31.00 target price on shares of Gentex in a research note on Monday, February 3rd. Guggenheim set a $30.00 price objective on shares of Gentex in a report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their target price on shares of Gentex from $34.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. Finally, UBS Group cut their price target on Gentex from $30.00 to $29.00 and set a "neutral" rating for the company in a report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $31.81.

Gentex Price Performance

GNTX stock traded down $0.48 on Friday, reaching $23.40. 2,617,593 shares of the company traded hands, compared to its average volume of 1,599,830. The firm has a fifty day simple moving average of $25.20 and a 200-day simple moving average of $28.05. The company has a market cap of $5.32 billion, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 0.84 and a beta of 0.90. Gentex Co. has a one year low of $23.27 and a one year high of $36.46.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The auto parts company reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.10). Gentex had a net margin of 17.49% and a return on equity of 16.74%. During the same quarter in the prior year, the company posted $0.50 EPS. On average, sell-side analysts forecast that Gentex Co. will post 2.04 EPS for the current year.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, April 9th. This represents a $0.48 dividend on an annualized basis and a yield of 2.05%. Gentex's payout ratio is 27.27%.

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.