Corient Private Wealth LP acquired a new stake in Gentex Corporation (NASDAQ:GNTX - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 65,972 shares of the auto parts company's stock, valued at approximately $1,667,000.
Several other large investors have also bought and sold shares of the company. Royal Bank of Canada lifted its holdings in Gentex by 33.1% in the 1st quarter. Royal Bank of Canada now owns 189,561 shares of the auto parts company's stock valued at $4,418,000 after acquiring an additional 47,150 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Gentex by 1.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,321,634 shares of the auto parts company's stock worth $30,794,000 after purchasing an additional 23,454 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Gentex by 255.6% in the 1st quarter. Empowered Funds LLC now owns 81,142 shares of the auto parts company's stock worth $1,891,000 after purchasing an additional 58,323 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Gentex by 8.0% in the 2nd quarter. Invesco Ltd. now owns 813,163 shares of the auto parts company's stock worth $17,881,000 after purchasing an additional 60,127 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Gentex by 2,038.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,512 shares of the auto parts company's stock worth $99,000 after purchasing an additional 4,301 shares in the last quarter. Institutional investors own 86.76% of the company's stock.
Gentex Price Performance
NASDAQ GNTX opened at $22.84 on Friday. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 12.08 and a beta of 0.80. The company has a 50 day simple moving average of $23.81 and a 200-day simple moving average of $23.41. 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 released its earnings results on Friday, July 24th. The auto parts company reported $0.58 earnings per share (EPS) 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 company had revenue of $651.30 million during the quarter, compared to the consensus estimate of $669.65 million. During the same quarter in the prior year, the firm earned $0.43 EPS. The company's revenue was down 1.0% compared to the same quarter last year. On average, analysts predict that Gentex Corporation will post 2.07 EPS for the current year.
Gentex Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders of record on Wednesday, October 7th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, October 7th. Gentex's payout ratio is currently 25.40%.
Analyst Ratings Changes
GNTX has been the subject of a number of research reports. Weiss Ratings upgraded shares of Gentex from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, June 23rd. UBS Group reaffirmed a "neutral" rating and issued a $25.00 price target (down from $26.00) on shares of Gentex in a report on Thursday, July 9th. Freedom Capital downgraded Gentex from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 29th. 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. Finally, Wall Street Zen lowered Gentex from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. One investment analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $26.80.
Read Our Latest Stock Analysis on GNTX
Gentex Profile
(
Free Report)
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).
See Also
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