TD Asset Management Inc. Increases Holdings in Gentex Co. (NASDAQ:GNTX)

TD Asset Management Inc. grew its holdings in Gentex Co. (NASDAQ:GNTX) by 7.1% in the 4th quarter, HoldingsChannel reports. The institutional investor 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.’s holdings in Gentex were worth $155,598,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Midwest Capital Advisors LLC purchased a new stake in Gentex in the fourth quarter worth $26,000. TD Private Client Wealth LLC raised its holdings in Gentex by 138.8% in the 4th quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company’s stock worth $33,000 after purchasing an additional 662 shares in the last quarter. Synergy Asset Management LLC purchased a new stake in shares of Gentex in the 4th quarter worth about $34,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Gentex by 32.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,419 shares of the auto parts company’s stock valued at $70,000 after purchasing an additional 593 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Gentex during the third quarter valued at about $125,000. 86.76% of the stock is currently owned by institutional investors.

Gentex Price Performance

GNTX opened at $24.52 on Wednesday. The firm has a market cap of $5.57 billion, a PE ratio of 13.93, a P/E/G ratio of 0.84 and a beta of 0.90. The stock has a 50-day moving average price of $25.42 and a 200-day moving average price of $28.16. Gentex Co. has a 1 year low of $23.50 and a 1 year high of $36.46.

Gentex (NASDAQ:GNTX) last issued its 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 quarter in the previous year, the firm earned $0.50 earnings per share. As a group, sell-side analysts anticipate that Gentex Co. will post 2.04 EPS for the current year.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, April 9th. This represents a $0.48 annualized dividend and a yield of 1.96%. Gentex’s dividend payout ratio is 27.27%.

Analyst Upgrades and Downgrades

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

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.