XXEC Inc. purchased a new stake in Gentex Corporation (NASDAQ:GNTX – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,107,299 shares of the auto parts company’s stock, valued at approximately $51,261,000. Gentex accounts for about 0.1% of XXEC Inc.’s holdings, making the stock its 8th biggest holding. XXEC Inc. owned 0.99% of Gentex as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Anchor Investment Management LLC acquired a new position in shares of Gentex during the 1st quarter valued at $26,000. Arax Advisory Partners bought a new stake in Gentex in the fourth quarter valued at $52,000. AdvisorNet Financial Inc increased its stake in Gentex by 2,299.0% in the first quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock valued at $52,000 after purchasing an additional 2,299 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Gentex during the second quarter valued at about $54,000. Finally, Employees Retirement System of Texas acquired a new position in Gentex during the 4th quarter worth approximately $56,000. 86.76% of the stock is currently owned by institutional investors.
Gentex Stock Down 3.4%
Shares of NASDAQ:GNTX opened at $23.06 on Friday. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 12.20 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 business’s 50 day moving average is $24.10 and its 200 day moving average is $23.48.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on GNTX. JPMorgan Chase & Co. reduced their price objective on Gentex from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, August 10th. Wall Street Zen cut Gentex from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Freedom Capital downgraded shares of Gentex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Weiss Ratings upgraded shares of Gentex from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Finally, UBS Group restated a “neutral” rating and set a $25.00 price objective (down from $26.00) on shares of Gentex in a report on Thursday, July 9th. One analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Gentex currently has an average rating of “Hold” and an average price target of $26.80.
Get Our Latest Stock Analysis on GNTX
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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