Gentex Co. (NASDAQ:GNTX) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its holdings in Gentex Co. (NASDAQ:GNTX) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 209,219 shares of the auto parts company’s stock after acquiring an additional 3,764 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.09% of Gentex worth $7,053,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Scharf Investments LLC increased its stake in Gentex by 36,001.4% in the second quarter. Scharf Investments LLC now owns 2,278,357 shares of the auto parts company’s stock valued at $76,803,000 after purchasing an additional 2,272,046 shares during the period. Wellington Management Group LLP raised its stake in Gentex by 27.9% during the 4th quarter. Wellington Management Group LLP now owns 8,728,378 shares of the auto parts company’s stock valued at $285,069,000 after acquiring an additional 1,905,356 shares during the last quarter. TD Asset Management Inc lifted its position in Gentex by 41.2% during the 1st 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 period. Motley Fool Asset Management LLC grew its stake in shares of Gentex by 287.7% in the 1st quarter. Motley Fool Asset Management LLC now owns 1,204,152 shares of the auto parts company’s stock valued at $43,494,000 after purchasing an additional 893,552 shares during the last quarter. Finally, Leeward Investments LLC MA acquired a new position in shares of Gentex in the first quarter valued at approximately $28,289,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Insider Activity

In related news, major shareholder Corp Gentex acquired 3,152,500 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $5.00 per share, for a total transaction of $15,762,500.00. Following the transaction, the insider now directly owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on GNTX shares. The Goldman Sachs Group lowered their price objective on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st. B. Riley dropped their price target on shares of Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. BNP Paribas cut shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target for the company. in a report on Tuesday, July 30th. UBS Group started coverage on Gentex in a report on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price objective on the stock. Finally, StockNews.com downgraded Gentex from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $36.29.

Gentex Price Performance

GNTX opened at $29.00 on Friday. Gentex Co. has a 1-year low of $27.86 and a 1-year high of $37.58. The stock has a market cap of $6.70 billion, a P/E ratio of 15.34, a P/E/G ratio of 0.99 and a beta of 0.92. The stock’s 50 day simple moving average is $29.96 and its 200 day simple moving average is $32.89.

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

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Wednesday, October 9th. 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.