Cetera Advisors LLC Raises Stake in Gentex Co. (NASDAQ:GNTX)

Cetera Advisors LLC lifted its position in shares of Gentex Co. (NASDAQ:GNTX) by 3.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 44,682 shares of the auto parts company’s stock after purchasing an additional 1,535 shares during the quarter. Cetera Advisors LLC’s holdings in Gentex were worth $1,307,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Commonwealth Equity Services LLC grew its holdings in shares of Gentex by 0.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 72,087 shares of the auto parts company’s stock worth $1,718,000 after purchasing an additional 380 shares during the period. Raymond James Trust N.A. boosted its holdings in Gentex by 4.5% in the 1st quarter. Raymond James Trust N.A. now owns 8,781 shares of the auto parts company’s stock worth $246,000 after acquiring an additional 381 shares during the period. Blair William & Co. IL boosted its holdings in Gentex by 5.2% in the 1st quarter. Blair William & Co. IL now owns 8,095 shares of the auto parts company’s stock worth $227,000 after acquiring an additional 400 shares during the period. Lincoln National Corp boosted its holdings in Gentex by 4.4% in the 1st quarter. Lincoln National Corp now owns 10,869 shares of the auto parts company’s stock worth $305,000 after acquiring an additional 454 shares during the period. Finally, OLD National Bancorp IN boosted its holdings in Gentex by 2.8% in the 2nd quarter. OLD National Bancorp IN now owns 17,461 shares of the auto parts company’s stock worth $511,000 after acquiring an additional 476 shares during the period. Hedge funds and other institutional investors own 84.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GNTX shares. StockNews.com started coverage on Gentex in a report on Thursday, October 5th. They issued a “buy” rating for the company. Robert W. Baird upped their price target on Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, July 31st. Finally, B. Riley upped their target price on Gentex from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, July 31st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.20.

Gentex Stock Up 0.7 %

Shares of GNTX opened at $31.13 on Tuesday. The firm has a market cap of $7.26 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 0.77 and a beta of 0.98. Gentex Co. has a 52-week low of $25.77 and a 52-week high of $34.33. The business’s 50 day moving average is $30.92 and its two-hundred day moving average is $30.40.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, October 27th. The auto parts company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.03. The business had revenue of $575.85 million for the quarter, compared to analyst estimates of $567.57 million. Gentex had a return on equity of 18.38% and a net margin of 18.04%. The business’s revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 EPS. On average, equities analysts expect that Gentex Co. will post 1.77 earnings per share for the current fiscal year.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 18th. Investors of record on Friday, October 6th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $0.48 dividend on an annualized basis and a yield of 1.54%. Gentex’s payout ratio is currently 28.07%.

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, 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.