Creative Planning Purchases 16,834 Shares of Gentex Co. (NASDAQ:GNTX)

Creative Planning grew its position in shares of Gentex Co. (NASDAQ:GNTX) by 27.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 77,519 shares of the auto parts company’s stock after acquiring an additional 16,834 shares during the period. Creative Planning’s holdings in Gentex were worth $2,302,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of GNTX. TD Asset Management Inc raised its stake in Gentex by 41.2% in 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 buying an additional 1,363,898 shares in the last quarter. Cetera Investment Advisers raised its stake in Gentex by 91.0% in the first quarter. Cetera Investment Advisers now owns 127,876 shares of the auto parts company’s stock worth $4,619,000 after buying an additional 60,934 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Gentex by 15.7% in the first quarter. Janney Montgomery Scott LLC now owns 411,535 shares of the auto parts company’s stock worth $14,865,000 after buying an additional 55,748 shares in the last quarter. BNP Paribas bought a new position in Gentex in the first quarter worth about $1,073,000. Finally, Leeward Investments LLC MA bought a new position in Gentex in the first quarter worth about $28,289,000. 86.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Corp Gentex bought 3,152,500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the completion of the acquisition, the insider now owns 6,463,808 shares of the company’s stock, valued at $32,319,040. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

Gentex Stock Up 5.4 %

NASDAQ:GNTX opened at $31.25 on Monday. The company’s 50 day moving average price is $29.93 and its 200-day moving average price is $32.19. Gentex Co. has a 52 week low of $27.86 and a 52 week high of $37.58. The stock has a market cap of $7.22 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 0.91 and a beta of 0.92.

Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, October 25th. The auto parts company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.03. Gentex had a net margin of 17.87% and a return on equity of 17.78%. The company had revenue of $608.53 million for the quarter, compared to analysts’ expectations of $611.33 million. As a group, sell-side analysts anticipate that Gentex Co. will post 1.94 earnings per share for the current year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Wednesday, October 9th. Gentex’s dividend payout ratio is currently 25.40%.

Wall Street Analysts Forecast Growth

GNTX has been the subject of a number of research reports. StockNews.com downgraded shares of Gentex from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. JPMorgan Chase & Co. decreased their target price on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Bank of America decreased their target price on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. BNP Paribas downgraded shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 target price for the company. in a research note on Tuesday, July 30th. Finally, Robert W. Baird decreased their target price on shares of Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Monday, July 29th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $36.13.

Gentex 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.