Nordea Investment Management AB Takes Position in Gentex Corporation $GNTX

Nordea Investment Management AB purchased a new stake in Gentex Corporation (NASDAQ:GNTX) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 227,304 shares of the auto parts company’s stock, valued at approximately $6,422,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CWM LLC increased its stake in Gentex by 5.1% in the third quarter. CWM LLC now owns 9,648 shares of the auto parts company’s stock valued at $273,000 after purchasing an additional 467 shares during the period. Orion Porfolio Solutions LLC increased its position in Gentex by 4.5% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 13,025 shares of the auto parts company’s stock valued at $286,000 after acquiring an additional 562 shares during the period. Nisa Investment Advisors LLC raised its stake in Gentex by 0.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 139,315 shares of the auto parts company’s stock valued at $3,064,000 after acquiring an additional 614 shares during the last quarter. Steph & Co. lifted its position in Gentex by 30.5% during the 3rd quarter. Steph & Co. now owns 2,684 shares of the auto parts company’s stock worth $76,000 after acquiring an additional 627 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Gentex by 5.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 12,509 shares of the auto parts company’s stock worth $275,000 after acquiring an additional 634 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on GNTX shares. JPMorgan Chase & Co. boosted their target price on Gentex from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, October 20th. UBS Group restated a “neutral” rating and set a $29.00 price objective (up previously from $28.00) on shares of Gentex in a research report on Monday, October 6th. Robert W. Baird set a $26.00 target price on shares of Gentex in a research note on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Gentex in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group set a $27.00 price target on shares of Gentex and gave the stock a “neutral” rating in a report on Monday, October 27th. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $27.86.

Gentex Price Performance

Shares of NASDAQ:GNTX opened at $23.93 on Friday. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 14.08 and a beta of 0.78. The business’s 50 day simple moving average is $23.36 and its 200-day simple moving average is $25.22. Gentex Corporation has a 12 month low of $20.28 and a 12 month high of $29.38.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, October 24th. The auto parts company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). The firm had revenue of $570.32 million for the quarter, compared to analyst estimates of $661.10 million. Gentex had a return on equity of 15.86% and a net margin of 15.61%.The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 earnings per share. On average, equities analysts anticipate that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Wednesday, January 7th will be given a $0.12 dividend. The ex-dividend date is Wednesday, January 7th. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. Gentex’s payout ratio is currently 28.24%.

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).