Squarepoint Ops LLC grew its position in Gentex Corporation (NASDAQ:GNTX - Free Report) by 97.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 292,332 shares of the auto parts company's stock after buying an additional 144,407 shares during the quarter. Squarepoint Ops LLC owned approximately 0.14% of Gentex worth $7,387,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Baird Financial Group Inc. lifted its position in shares of Gentex by 0.8% in the 2nd quarter. Baird Financial Group Inc. now owns 118,707 shares of the auto parts company's stock valued at $3,000,000 after acquiring an additional 934 shares in the last quarter. Paragon Capital Management Ltd acquired a new stake in Gentex during the 2nd quarter valued at $262,000. Nykredit A S purchased a new stake in shares of Gentex in the second quarter valued at $69,000. Corient Private Wealth LP lifted its holdings in shares of Gentex by 15.1% in the second quarter. Corient Private Wealth LP now owns 66,327 shares of the auto parts company's stock valued at $1,676,000 after purchasing an additional 8,694 shares in the last quarter. Finally, Amundi boosted its position in shares of Gentex by 48.3% in the second quarter. Amundi now owns 40,797 shares of the auto parts company's stock worth $1,031,000 after buying an additional 13,287 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on GNTX. Freedom Capital lowered Gentex from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. decreased their price objective on Gentex from $28.00 to $27.00 and set a "neutral" rating for the company in a research report on Monday, August 10th. Wall Street Zen cut Gentex from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Weiss Ratings upgraded Gentex from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, June 23rd. Finally, UBS Group reissued a "neutral" rating and issued a $25.00 price target (down from $26.00) on shares of Gentex in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, Gentex has a consensus rating of "Hold" and a consensus target price of $26.80.
Check Out Our Latest Stock Analysis on GNTX
Gentex Trading Up 0.1%
NASDAQ GNTX opened at $22.68 on Friday. Gentex Corporation has a 1-year low of $20.48 and a 1-year high of $29.38. The firm's fifty day simple moving average is $23.60 and its 200-day simple moving average is $23.36. The company has a market capitalization of $4.83 billion, a PE ratio of 12.00 and a beta of 0.80.
Gentex (NASDAQ:GNTX - Get Free Report) 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. The company had revenue of $651.30 million during the quarter, compared to the consensus estimate of $669.65 million. Gentex had a return on equity of 16.78% and a net margin of 15.50%.The business's quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the business earned $0.43 EPS. As a group, analysts predict that Gentex Corporation will post 2.07 EPS for the current year.
Gentex Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Wednesday, October 7th will be paid 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 payout ratio is 25.40%.
Gentex Company 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).
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