Gentex Co. (NASDAQ:GNTX) Shares Purchased by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV increased its position in shares of Gentex Co. (NASDAQ:GNTX) by 47.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,593 shares of the auto parts company’s stock after buying an additional 7,255 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Gentex were worth $762,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its position in shares of Gentex by 129.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 111,827 shares of the auto parts company’s stock valued at $3,652,000 after acquiring an additional 63,152 shares during the period. TD Asset Management Inc increased its position in shares of Gentex by 58.1% in the fourth quarter. TD Asset Management Inc now owns 3,313,757 shares of the auto parts company’s stock valued at $108,227,000 after buying an additional 1,217,278 shares in the last quarter. Thematics Asset Management raised its stake in shares of Gentex by 51.2% during the 4th quarter. Thematics Asset Management now owns 523,207 shares of the auto parts company’s stock worth $17,088,000 after buying an additional 177,207 shares during the period. Vanguard Group Inc. grew its stake in Gentex by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 22,280,716 shares of the auto parts company’s stock valued at $727,688,000 after acquiring an additional 163,373 shares during the period. Finally, Cetera Investment Advisers increased its holdings in Gentex by 91.0% in the 1st quarter. Cetera Investment Advisers now owns 127,876 shares of the auto parts company’s stock worth $4,619,000 after acquiring an additional 60,934 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Price Performance

Shares of NASDAQ GNTX opened at $30.95 on Friday. The company has a market capitalization of $7.16 billion, a P/E ratio of 16.38, a P/E/G ratio of 0.99 and a beta of 0.92. The company has a 50 day simple moving average of $30.39 and a 200-day simple moving average of $33.19. Gentex Co. has a 1 year low of $27.86 and a 1 year high of $37.58.

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

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Wednesday, October 9th. Gentex’s dividend payout ratio (DPR) is 25.40%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. UBS Group assumed coverage on shares of Gentex in a report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. BNP Paribas cut Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 target price for the company. in a report on Tuesday, July 30th. Robert W. Baird lowered their price target on Gentex from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $36.86.

Insider Transactions at Gentex

In other news, major shareholder Corp Gentex bought 3,152,500 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $5.00 per share, with a total value of $15,762,500.00. Following the completion of the transaction, the insider now directly owns 6,463,808 shares in the company, valued at $32,319,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.41% of the company’s stock.

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.