Jupiter Topco LLC Makes New $2.50 Million Investment in Gentex Corporation $GNTX

Key Points

• Jupiter Topco LLC purchased 98,940 Gentex shares worth approximately $2.5 million during the second quarter. Institutional investors collectively own 86.76% of the company.
• Gentex reported quarterly EPS of $0.58, beating estimates of $0.50, while revenue fell 1% year over year to $651.3 million, below expectations.
• The company declared a quarterly dividend of $0.12 per share, equivalent to an annualized $0.48 payout and a 2.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $26.80.

Jupiter Topco LLC purchased a new stake in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 98,940 shares of the auto parts company's stock, valued at approximately $2,501,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Thompson Siegel & Walmsley LLC raised its stake in Gentex by 57.1% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 377,484 shares of the auto parts company's stock worth $8,784,000 after acquiring an additional 137,245 shares during the last quarter. Pacer Advisors Inc. lifted its position in Gentex by 2,636.4% during the 4th quarter. Pacer Advisors Inc. now owns 799,243 shares of the auto parts company's stock worth $18,598,000 after acquiring an additional 770,035 shares during the period. Hillsdale Investment Management Inc. grew its stake in Gentex by 25,026.7% during the 1st quarter. Hillsdale Investment Management Inc. now owns 188,450 shares of the auto parts company's stock valued at $4,118,000 after purchasing an additional 187,700 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Gentex by 3,905.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 700,693 shares of the auto parts company's stock valued at $16,305,000 after purchasing an additional 683,201 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in Gentex during the 2nd quarter valued at about $3,411,000. Hedge funds and other institutional investors own 86.76% of the company's stock.

Gentex Stock Up 3.3%

Gentex stock opened at $22.86 on Thursday. The business's 50-day moving average price is $23.87 and its 200 day moving average price is $23.43. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of 12.10 and a beta of 0.80. 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 announced its quarterly earnings results on Friday, July 24th. The auto parts company reported $0.58 earnings per share (EPS) for the quarter, beating 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%.Gentex's revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 earnings per share. Equities analysts expect that Gentex Corporation will post 2.07 EPS for the current year.

Gentex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Wednesday, October 7th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $0.48 dividend on an annualized basis and a yield of 2.1%. Gentex's dividend payout ratio is 25.40%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GNTX. Weiss Ratings raised shares of Gentex from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, June 23rd. UBS Group reaffirmed a "neutral" rating and issued a $25.00 price objective (down from $26.00) on shares of Gentex in a report on Thursday, July 9th. JPMorgan Chase & Co. cut their price objective 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. Wall Street Zen cut shares of Gentex from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Finally, Freedom Capital cut shares of Gentex from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus 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).

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