Danske Bank A S Invests $17.87 Million in Gentex Corporation $GNTX

Danske Bank A S bought a new stake in Gentex Corporation (NASDAQ:GNTX) in the second quarter, HoldingsChannel reports. The fund bought 707,184 shares of the auto parts company’s stock, valued at approximately $17,871,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Thompson Siegel & Walmsley LLC increased its holdings in shares of Gentex by 57.1% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 377,484 shares of the auto parts company’s stock worth $8,784,000 after buying an additional 137,245 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Gentex by 2,636.4% in the fourth quarter. Pacer Advisors Inc. now owns 799,243 shares of the auto parts company’s stock valued at $18,598,000 after acquiring an additional 770,035 shares during the last quarter. Hillsdale Investment Management Inc. boosted its holdings in Gentex by 25,026.7% in the first quarter. Hillsdale Investment Management Inc. now owns 188,450 shares of the auto parts company’s stock valued at $4,118,000 after acquiring an additional 187,700 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Gentex by 3,905.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 700,693 shares of the auto parts company’s stock valued at $16,305,000 after acquiring an additional 683,201 shares during the period. Finally, Cidel Asset Management Inc. grew its position in Gentex by 61.4% during the first quarter. Cidel Asset Management Inc. now owns 647,425 shares of the auto parts company’s stock valued at $14,146,000 after acquiring an additional 246,235 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Stock Performance

Gentex stock opened at $23.59 on Friday. The stock’s 50 day moving average price is $24.32 and its 200 day moving average price is $23.50. The firm has a market capitalization of $5.02 billion, a PE ratio of 12.48 and a beta of 0.79. Gentex Corporation has a one year low of $20.48 and a one year high of $29.38.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, July 24th. The auto parts company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.08. The company had revenue of $651.30 million during the quarter, compared to the consensus estimate of $669.65 million. Gentex had a net margin of 15.50% and a return on equity of 16.78%. Gentex’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the company earned $0.43 earnings per share. On average, analysts forecast that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th were paid a $0.12 dividend. The ex-dividend date was Wednesday, July 8th. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. Gentex’s dividend payout ratio is 25.40%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. B. Riley Financial restated a “buy” rating and issued a $29.00 price objective (up from $28.00) on shares of Gentex in a report on Monday, April 27th. Freedom Capital downgraded shares of Gentex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. UBS Group restated a “neutral” rating and issued a $25.00 price target (down from $26.00) on shares of Gentex in a report on Thursday, July 9th. Weiss Ratings raised shares of Gentex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Finally, Robert W. Baird increased their price objective 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. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $26.80.

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).