Toronto Dominion Bank Reduces Stock Position in Gentex Co. (NASDAQ:GNTX)

Toronto Dominion Bank cut its position in Gentex Co. (NASDAQ:GNTX) by 5.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,071 shares of the auto parts company’s stock after selling 2,275 shares during the quarter. Toronto Dominion Bank’s holdings in Gentex were worth $1,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Phoenix Wealth Advisors lifted its stake in Gentex by 3.1% in the 2nd quarter. Phoenix Wealth Advisors now owns 10,196 shares of the auto parts company’s stock worth $344,000 after purchasing an additional 306 shares in the last quarter. GAMMA Investing LLC lifted its stake in Gentex by 26.3% in the 1st quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company’s stock worth $63,000 after purchasing an additional 363 shares in the last quarter. Eagle Asset Management Inc. increased its holdings in shares of Gentex by 0.5% in the 4th quarter. Eagle Asset Management Inc. now owns 69,808 shares of the auto parts company’s stock worth $2,280,000 after buying an additional 373 shares during the last quarter. JLB & Associates Inc. increased its holdings in shares of Gentex by 1.7% in the 1st quarter. JLB & Associates Inc. now owns 24,381 shares of the auto parts company’s stock worth $881,000 after buying an additional 416 shares during the last quarter. Finally, United Services Automobile Association increased its holdings in shares of Gentex by 2.5% in the 2nd quarter. United Services Automobile Association now owns 17,447 shares of the auto parts company’s stock worth $588,000 after buying an additional 427 shares during the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Gentex

In other Gentex news, major shareholder Corp Gentex purchased 3,152,500 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average cost of $5.00 per share, with a total value of $15,762,500.00. Following the transaction, the insider now directly owns 6,463,808 shares in the company, valued at approximately $32,319,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. StockNews.com lowered shares of Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. B. Riley reduced their target price on shares of Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Monday, July 29th. UBS Group initiated coverage on shares of Gentex in a report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 target price on the stock. BNP Paribas lowered shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 target price on the stock. in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Gentex presently has a consensus rating of “Hold” and an average target price of $36.86.

Gentex Stock Down 4.2 %

Shares of Gentex stock opened at $29.69 on Tuesday. The firm has a market cap of $6.86 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 0.99 and a beta of 0.92. Gentex Co. has a 12-month low of $27.86 and a 12-month high of $37.58. The company’s fifty day simple moving average is $30.20 and its two-hundred day simple moving average is $33.06.

Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, July 26th. The auto parts company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.15). Gentex had a return on equity of 17.78% and a net margin of 17.87%. The company had revenue of $572.93 million during the quarter, compared to analysts’ expectations of $623.28 million. As a group, sell-side analysts expect that Gentex Co. will post 1.96 earnings per share for the current fiscal year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.62%. Gentex’s dividend payout ratio is 25.40%.

Gentex Company 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.