Gentex Corporation $GNTX Shares Bought by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board boosted its stake in shares of Gentex Corporation (NASDAQ:GNTX) by 41.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 84,895 shares of the auto parts company’s stock after acquiring an additional 25,083 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Gentex were worth $2,403,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Addison Advisors LLC purchased a new position in shares of Gentex during the 2nd quarter worth approximately $25,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Gentex in the third quarter valued at approximately $38,000. Grey Fox Wealth Advisors LLC acquired a new position in Gentex during the third quarter worth $65,000. Steph & Co. boosted its position 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 worth $76,000 after buying an additional 627 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Gentex by 2,038.4% in the second quarter. EverSource Wealth Advisors LLC now owns 4,512 shares of the auto parts company’s stock valued at $99,000 after buying an additional 4,301 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GNTX has been the topic of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Gentex in a research note on Thursday, January 22nd. UBS Group set a $25.00 price target on shares of Gentex in a research note on Monday, February 2nd. The Goldman Sachs Group set a $27.00 price objective on shares of Gentex and gave the company a “neutral” rating in a research note on Monday, October 27th. Robert W. Baird set a $26.00 price objective on shares of Gentex in a report on Wednesday, January 14th. Finally, B. Riley Financial cut their target price on shares of Gentex from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Gentex presently has an average rating of “Hold” and an average price target of $26.71.

Gentex Stock Down 0.3%

Shares of NASDAQ:GNTX opened at $24.54 on Thursday. Gentex Corporation has a fifty-two week low of $20.28 and a fifty-two week high of $29.38. The firm’s 50 day moving average price is $23.91 and its 200 day moving average price is $25.20. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of 14.10 and a beta of 0.78.

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

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Stockholders of record on Wednesday, January 7th were given 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 dividend payout ratio is currently 27.59%.

Gentex 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).