TD Asset Management Inc. Purchases 356,854 Shares of Gentex Co. (NASDAQ:GNTX)

TD Asset Management Inc. increased its position in shares of Gentex Co. (NASDAQ:GNTX) by 7.1% during the fourth quarter, according to 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 acquiring an additional 356,854 shares during the period. TD Asset Management Inc. owned approximately 2.38% of Gentex worth $155,598,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of 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 purchasing an additional 1,285,519 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Gentex during the fourth quarter worth about $24,479,000. American Century Companies Inc. increased its stake in Gentex by 66.9% in the 4th quarter. American Century Companies Inc. now owns 1,657,397 shares of the auto parts company’s stock worth $47,617,000 after acquiring an additional 664,389 shares during the last quarter. Bridgewater Associates LP raised its holdings in shares of Gentex by 249.1% in the 3rd quarter. Bridgewater Associates LP now owns 617,657 shares of the auto parts company’s stock valued at $18,338,000 after acquiring an additional 440,725 shares in the last quarter. Finally, Cidel Asset Management Inc. bought a new stake in shares of Gentex during the 4th quarter valued at about $11,815,000. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Gentex Trading Up 0.4 %

Shares of NASDAQ:GNTX opened at $24.52 on Wednesday. The stock has a market capitalization of $5.57 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 0.84 and a beta of 0.90. The stock’s 50-day moving average price is $25.42 and its 200-day moving average price is $28.16. Gentex Co. has a 12-month low of $23.50 and a 12-month high of $36.46.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.10). Gentex had a return on equity of 16.74% and a net margin of 17.49%. During the same period in the prior year, the business earned $0.50 EPS. As a group, research analysts predict that Gentex Co. will post 2.04 EPS for the current year.

Gentex Announces Dividend

The company also recently declared 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 of this dividend is Wednesday, April 9th. This represents a $0.48 dividend on an annualized basis and a yield of 1.96%. Gentex’s dividend payout ratio is currently 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.