TD Asset Management Inc. Lowers Holdings in Gentex Co. (GNTX)
TD Asset Management Inc. decreased its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 10.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 135,899 shares of the auto parts company’s stock after selling 16,361 shares during the period. TD Asset Management Inc.’s holdings in Gentex were worth $2,810,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in Gentex by 0.9% during the fourth quarter. BlackRock Inc. now owns 24,277,225 shares of the auto parts company’s stock worth $490,643,000 after buying an additional 227,469 shares during the last quarter. Vanguard Group Inc grew its stake in shares of Gentex by 1.1% in the 3rd quarter. Vanguard Group Inc now owns 24,110,056 shares of the auto parts company’s stock worth $517,401,000 after acquiring an additional 272,847 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Gentex by 4.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,119,321 shares of the auto parts company’s stock worth $123,669,000 after acquiring an additional 283,696 shares in the last quarter. Maj Invest Holding A S grew its stake in shares of Gentex by 10.5% in the 1st quarter. Maj Invest Holding A S now owns 4,206,037 shares of the auto parts company’s stock worth $86,980,000 after acquiring an additional 400,743 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Gentex by 8.3% in the 4th quarter. Geode Capital Management LLC now owns 3,950,871 shares of the auto parts company’s stock worth $79,846,000 after acquiring an additional 303,378 shares in the last quarter. Hedge funds and other institutional investors own 82.67% of the company’s stock.
GNTX has been the subject of several recent analyst reports. BidaskClub upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Zacks Investment Research upgraded shares of Gentex from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Thursday, May 16th. Jefferies Financial Group reiterated a “hold” rating and issued a $23.00 target price on shares of Gentex in a research note on Monday, February 4th. ValuEngine upgraded shares of Gentex from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Finally, Longbow Research lowered shares of Gentex from a “buy” rating to a “neutral” rating and set a $20.65 target price for the company. in a research note on Tuesday, February 5th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $22.28.
GNTX traded up $0.44 during trading on Monday, hitting $21.80. 44,031 shares of the company traded hands, compared to its average volume of 1,276,068. The firm has a market cap of $5.46 billion, a P/E ratio of 13.58, a PEG ratio of 2.17 and a beta of 1.15. Gentex Co. has a one year low of $17.80 and a one year high of $25.41.
Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Wednesday, April 24th. The auto parts company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The company had revenue of $468.60 million during the quarter, compared to analyst estimates of $463.79 million. Gentex had a net margin of 23.45% and a return on equity of 23.03%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. Equities analysts predict that Gentex Co. will post 1.64 EPS for the current year.
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Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It designs, develops, manufactures, and markets 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, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.
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