Paralel Advisors LLC bought a new stake in shares of Gentex Corporation (NASDAQ:GNTX – Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 105,738 shares of the auto parts company’s stock, valued at approximately $2,672,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Anchor Investment Management LLC acquired a new stake in shares of Gentex in the first quarter valued at approximately $26,000. AdvisorNet Financial Inc raised its holdings in shares of Gentex by 2,299.0% during the first 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 position in shares of Gentex during the fourth quarter worth approximately $52,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Gentex during the second quarter worth approximately $54,000. Finally, Employees Retirement System of Texas bought a new position in Gentex in the 4th quarter worth approximately $56,000. Institutional investors own 86.76% of the company’s stock.
Analyst Ratings Changes
GNTX has been the topic of several analyst reports. 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 raised their price target on Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Freedom Capital cut shares of Gentex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. reduced their price objective on shares of Gentex from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, August 10th. Finally, Wall Street Zen lowered shares of Gentex from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $26.80.
Gentex Price Performance
Shares of NASDAQ:GNTX opened at $23.59 on Friday. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 12.48 and a beta of 0.79. Gentex Corporation has a 12 month low of $20.48 and a 12 month high of $29.38. The stock’s 50 day moving average price is $24.32 and its 200 day moving average price is $23.50.
Gentex (NASDAQ:GNTX – Get Free Report) last issued its quarterly earnings results on Friday, July 24th. The auto parts company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. Gentex had a return on equity of 16.78% and a net margin of 15.50%.The firm had revenue of $651.30 million during the quarter, compared to analyst estimates of $669.65 million. During the same period last year, the company posted $0.43 EPS. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. On average, sell-side analysts expect that Gentex Corporation will post 2.04 EPS for the current year.
Gentex Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th were issued a $0.12 dividend. The ex-dividend date was Wednesday, July 8th. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. Gentex’s dividend payout ratio is 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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