American Capital Management Inc. Invests $13.42 Million in Gentex Corporation $GNTX

Key Points

• American Capital Management purchased 531,229 Gentex shares worth approximately $13.42 million, representing about 0.25% of the company. Institutional investors and hedge funds collectively own 86.76% of GNTX.
• Analysts remain cautious, with one Buy rating and seven Holds; Gentex has an average rating of “Hold” and an average price target of $26.80.
• Gentex beat quarterly earnings expectations with $0.58 in EPS versus $0.50 forecast, although revenue fell 1% year over year to $651.3 million. The company maintains a $0.12 quarterly dividend, equal to a 2.0% annual yield.

American Capital Management Inc. purchased a new stake in Gentex Corporation (NASDAQ:GNTX - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 531,229 shares of the auto parts company's stock, valued at approximately $13,424,000. American Capital Management Inc. owned approximately 0.25% of Gentex as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of GNTX. XXEC Inc. acquired a new stake in shares of Gentex during the 2nd quarter worth approximately $7,705,220,000. BlackRock Inc. acquired a new position in Gentex during the second quarter valued at approximately $550,287,000. Bank of Montreal Can lifted its stake in Gentex by 14,398.7% during the fourth quarter. Bank of Montreal Can now owns 7,726,057 shares of the auto parts company's stock worth $179,785,000 after purchasing an additional 7,672,769 shares during the last quarter. Caisse de depot et placement du Quebec bought a new stake in Gentex during the second quarter worth $79,924,000. Finally, Norges Bank acquired a new stake in shares of Gentex in the 4th quarter valued at $52,767,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on GNTX shares. UBS Group reaffirmed a "neutral" rating and issued a $25.00 price objective (down from $26.00) on shares of Gentex in a research note on Thursday, July 9th. Freedom Capital cut shares of Gentex from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 29th. Wall Street Zen downgraded shares of Gentex from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. JPMorgan Chase & Co. reduced their price target on shares of Gentex from $28.00 to $27.00 and set a "neutral" rating on the stock in a research note on Monday, August 10th. Finally, Weiss Ratings raised shares of Gentex from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, June 23rd. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Gentex has an average rating of "Hold" and an average target price of $26.80.

Gentex Stock Performance

GNTX stock opened at $23.87 on Thursday. The company has a market capitalization of $5.08 billion, a P/E ratio of 12.63 and a beta of 0.79. The company has a fifty day moving average price of $24.16 and a 200-day moving average price of $23.48. Gentex Corporation has a 52-week low of $20.48 and a 52-week high of $29.38.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its quarterly earnings data on Friday, July 24th. The auto parts company reported $0.58 earnings per share 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 business had revenue of $651.30 million during the quarter, compared to the consensus estimate of $669.65 million. During the same period in the prior 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, sell-side analysts forecast that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

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

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).

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