TD Waterhouse Canada Inc. Sells 21,838 Shares of Gentex Corporation $GNTX

TD Waterhouse Canada Inc. lowered its position in shares of Gentex Corporation (NASDAQ:GNTX) by 91.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,058 shares of the auto parts company’s stock after selling 21,838 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Gentex were worth $57,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Addison Advisors LLC bought a new position in shares of Gentex in the 2nd quarter worth about $25,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Gentex in the third quarter worth about $38,000. Grey Fox Wealth Advisors LLC bought a new position in shares of Gentex during the third quarter valued at approximately $65,000. Steph & Co. lifted its holdings in shares of Gentex by 30.5% during the third quarter. Steph & Co. now owns 2,684 shares of the auto parts company’s stock valued at $76,000 after purchasing an additional 627 shares during the last quarter. Finally, Bayforest Capital Ltd purchased a new position in shares of Gentex during the second quarter valued at approximately $81,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Price Performance

GNTX stock opened at $24.48 on Friday. The stock has a market capitalization of $5.36 billion, a P/E ratio of 14.07 and a beta of 0.78. Gentex Corporation has a 1-year low of $20.28 and a 1-year high of $29.38. The business has a fifty day moving average price of $23.67 and a 200-day moving average price of $25.28.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, January 30th. The auto parts company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. Gentex had a return on equity of 16.05% and a net margin of 15.19%.The company had revenue of $644.40 million during the quarter, compared to the consensus estimate of $650.90 million. During the same period last year, the company earned $0.39 EPS. Gentex’s revenue for the quarter was up 19.0% on a year-over-year basis. As a group, analysts anticipate that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Stockholders of record on Wednesday, January 7th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, January 7th. Gentex’s payout ratio is presently 27.59%.

Analyst Upgrades and Downgrades

GNTX has been the topic of several recent research reports. B. Riley cut their price target on Gentex from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of Gentex in a report on Thursday, January 22nd. Robert W. Baird set a $26.00 price target on Gentex in a report on Wednesday, January 14th. The Goldman Sachs Group set a $27.00 price target on Gentex and gave the stock a “neutral” rating in a research report on Monday, October 27th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Gentex from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $26.71.

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).