Quantbot Technologies LP Purchases New Shares in Gentex Corporation $GNTX

Quantbot Technologies LP acquired a new stake in Gentex Corporation (NASDAQ:GNTX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 136,283 shares of the auto parts company’s stock, valued at approximately $3,444,000.

Other large investors have also modified their holdings of the company. Evolve Private Wealth LLC purchased a new stake in shares of Gentex during the 2nd quarter worth about $545,000. XXEC Inc. acquired a new stake in shares of Gentex during the 2nd quarter valued at about $7,705,220,000. Landscape Capital Management L.L.C. purchased a new position in shares of Gentex in the 2nd quarter valued at about $1,342,000. Paralel Advisors LLC purchased a new position in shares of Gentex in the 2nd quarter valued at about $2,672,000. Finally, Allworth Financial LP acquired a new position in Gentex in the 2nd quarter worth about $165,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Price Performance

Shares of NASDAQ GNTX opened at $23.64 on Monday. The firm has a 50-day simple moving average of $24.28 and a 200-day simple moving average of $23.50. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 12.51 and a beta of 0.79. Gentex Corporation has a 52 week low of $20.48 and a 52 week high of $29.38.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, July 24th. The auto parts company reported $0.58 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $669.65 million. During the same period in the previous year, the business posted $0.43 earnings per share. Gentex’s quarterly revenue was down 1.0% on a year-over-year basis. As a group, equities research analysts expect that Gentex Corporation will post 2.04 EPS for the current year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Wednesday, July 8th. Gentex’s payout ratio is currently 25.40%.

Analyst Ratings Changes

A number of equities analysts have issued reports on GNTX shares. B. Riley Financial reiterated a “buy” rating and set a $29.00 price target (up from $28.00) on shares of Gentex in a research report on Monday, April 27th. Wall Street Zen cut Gentex from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. JPMorgan Chase & Co. reduced their target price on Gentex from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, August 10th. UBS Group reiterated a “neutral” rating and set a $25.00 target price (down from $26.00) on shares of Gentex in a research report on Thursday, July 9th. Finally, Freedom Capital cut shares of Gentex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Gentex has an average rating of “Hold” and an average price target of $26.80.

Gentex Company Profile

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).