Thurston Springer Miller Herd & Titak Inc. Increases Position in Gentex Co. (NASDAQ:GNTX)

Thurston Springer Miller Herd & Titak Inc. lifted its position in Gentex Co. (NASDAQ:GNTX) by 227.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,826 shares of the auto parts company’s stock after purchasing an additional 1,269 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Gentex were worth $54,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of GNTX. PNC Financial Services Group Inc. boosted its position in shares of Gentex by 129.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 111,827 shares of the auto parts company’s stock worth $3,652,000 after acquiring an additional 63,152 shares during the last quarter. TD Asset Management Inc boosted its position in shares of Gentex by 41.2% during the first quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock worth $168,957,000 after acquiring an additional 1,363,898 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Gentex by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 22,280,716 shares of the auto parts company’s stock worth $727,688,000 after acquiring an additional 163,373 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Gentex by 91.0% during the first quarter. Cetera Investment Advisers now owns 127,876 shares of the auto parts company’s stock worth $4,619,000 after acquiring an additional 60,934 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Gentex by 15.7% during the first quarter. Janney Montgomery Scott LLC now owns 411,535 shares of the auto parts company’s stock worth $14,865,000 after acquiring an additional 55,748 shares during the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GNTX has been the subject of a number of research reports. UBS Group initiated coverage on shares of Gentex in a research report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 target price for the company. StockNews.com lowered shares of Gentex from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. The Goldman Sachs Group lowered their price objective on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. Robert W. Baird lowered their price objective on shares of Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. Finally, B. Riley lowered their price objective on shares of Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Monday, July 29th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $36.13.

Insider Transactions at Gentex

In other news, major shareholder Corp Gentex bought 3,152,500 shares of the stock in a transaction dated Friday, August 23rd. The stock was purchased at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the acquisition, the insider now owns 6,463,808 shares of the company’s stock, valued at $32,319,040. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.41% of the company’s stock.

Gentex Trading Down 0.9 %

Gentex stock opened at $29.30 on Wednesday. The firm has a 50-day moving average price of $29.80 and a 200-day moving average price of $32.52. The firm has a market capitalization of $6.77 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92. Gentex Co. has a 12-month low of $27.86 and a 12-month high of $37.58.

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

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.64%. Gentex’s dividend payout ratio (DPR) is presently 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.