Odyssean LLC acquired a new stake in shares of Gentex Corporation (NASDAQ:GNTX – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 31,237 shares of the auto parts company’s stock, valued at approximately $789,000.
Several other large investors also recently bought and sold shares of the business. Anchor Investment Management LLC purchased a new position in Gentex in the 1st quarter worth about $26,000. CIBC Private Wealth Group LLC boosted its holdings in shares of Gentex by 2,420.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company’s stock valued at $58,000 after acquiring an additional 1,985 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Gentex during the 2nd quarter valued at about $54,000. Arax Advisory Partners bought a new stake in shares of Gentex in the fourth quarter worth approximately $52,000. Finally, AdvisorNet Financial Inc grew its stake in shares of Gentex by 2,299.0% in the first quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock worth $52,000 after acquiring an additional 2,299 shares during the period. 86.76% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on GNTX shares. JPMorgan Chase & Co. lowered their price objective on shares of Gentex from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, August 10th. UBS Group reaffirmed a “neutral” rating and issued a $25.00 target price (down from $26.00) on shares of Gentex in a research report on Thursday, July 9th. Wall Street Zen lowered shares of Gentex from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Freedom Capital cut Gentex from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings upgraded Gentex from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. One investment analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Gentex currently has an average rating of “Hold” and a consensus price target of $26.80.
Gentex Price Performance
Shares of Gentex stock opened at $23.14 on Friday. The company’s fifty day simple moving average is $23.76 and its 200-day simple moving average is $23.41. The stock has a market capitalization of $4.93 billion, a PE ratio of 12.24 and a beta of 0.80. Gentex Corporation has a 1-year low of $20.48 and a 1-year high of $29.38.
Gentex (NASDAQ:GNTX – Get Free Report) last issued its quarterly earnings data 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 net margin of 15.50% and a return on equity of 16.78%. The firm had revenue of $651.30 million during the quarter, compared to the consensus estimate of $669.65 million. During the same quarter in the previous year, the firm posted $0.43 EPS. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, research analysts anticipate that Gentex Corporation will post 2.07 EPS for the current year.
Gentex Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Wednesday, October 7th will be given a $0.12 dividend. The ex-dividend date is Wednesday, October 7th. This represents a $0.48 dividend on an annualized basis and a yield of 2.1%. Gentex’s dividend 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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