GSA Capital Partners LLP acquired a new position in Gentex Corporation (NASDAQ:GNTX – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 28,774 shares of the auto parts company’s stock, valued at approximately $727,000.
A number of other institutional investors and hedge funds also recently modified their holdings of GNTX. Anchor Investment Management LLC acquired a new position in shares of Gentex in the 1st quarter valued at about $26,000. AdvisorNet Financial Inc grew its position in shares of Gentex by 2,299.0% during the 1st quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock valued at $52,000 after buying an additional 2,299 shares during the last quarter. Arax Advisory Partners acquired a new stake in Gentex during the fourth quarter worth about $52,000. Employees Retirement System of Texas acquired a new stake in Gentex during the fourth quarter worth about $56,000. Finally, Clearstead Advisors LLC lifted its holdings in Gentex by 21.4% in the fourth quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company’s stock worth $58,000 after acquiring an additional 437 shares during the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have commented on GNTX. Wall Street Zen downgraded Gentex from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. UBS Group reissued a “neutral” rating and issued a $25.00 price target (down from $26.00) on shares of Gentex in a report on Thursday, July 9th. Weiss Ratings upgraded Gentex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Robert W. Baird upped their price objective on Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Finally, Freedom Capital lowered Gentex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $26.80.
Gentex Stock Down 0.2%
Gentex stock opened at $23.64 on Thursday. Gentex Corporation has a 52-week low of $20.48 and a 52-week high of $29.38. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 12.51 and a beta of 0.79. The firm has a 50-day moving average price of $24.37 and a two-hundred day moving average price of $23.50.
Gentex (NASDAQ:GNTX – Get Free Report) last announced its quarterly earnings results on Friday, July 24th. The auto parts company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.50 by $0.08. The company had revenue of $651.30 million for the quarter, compared to analyst estimates of $669.65 million. Gentex had a net margin of 15.50% and a return on equity of 16.78%. Gentex’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.43 earnings per share. Research analysts expect that Gentex Corporation will post 2.04 earnings per share for the current year.
Gentex Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, July 8th. This represents a $0.48 annualized dividend and a yield of 2.0%. Gentex’s payout ratio is presently 25.40%.
About Gentex
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).
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