Landscape Capital Management L.L.C. Acquires Shares of 53,087 Gentex Corporation $GNTX

Key Points

• Landscape Capital Management acquired 53,087 Gentex shares worth approximately $1.34 million in the second quarter. Institutional investors collectively own 86.76% of GNTX.
• Gentex reported quarterly earnings of $0.58 per share, exceeding the $0.50 consensus estimate, while revenue fell 1% year over year to $651.3 million.
• The company paid a quarterly dividend of $0.12 per share, equivalent to an annualized $0.48 dividend and a 2.0% yield. Analysts maintain a consensus “Hold” rating with an average price target of $26.80.

Landscape Capital Management L.L.C. acquired a new position in Gentex Corporation (NASDAQ:GNTX - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 53,087 shares of the auto parts company's stock, valued at approximately $1,342,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GNTX. Paralel Advisors LLC bought a new stake in Gentex during the 2nd quarter valued at $2,672,000. Allworth Financial LP bought a new position in shares of Gentex in the second quarter worth $165,000. Aurora Investment Counsel bought a new position in shares of Gentex in the second quarter worth $376,000. Danske Bank A S bought a new position in shares of Gentex in the second quarter worth $17,871,000. Finally, Alpine Woods Capital Investors LLC purchased a new position in shares of Gentex in the second quarter valued at $258,000. 86.76% of the stock is currently owned by institutional investors.

Gentex Stock Performance

Shares of GNTX stock opened at $23.64 on Friday. The company has a market capitalization of $5.03 billion, a P/E ratio of 12.51 and a beta of 0.79. Gentex Corporation has a fifty-two week low of $20.48 and a fifty-two week high of $29.38. The stock has a 50 day moving average price of $24.28 and a two-hundred day moving average price of $23.50.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings data on Friday, July 24th. The auto parts company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.50 by $0.08. The firm had revenue of $651.30 million during the quarter, compared to the consensus estimate of $669.65 million. Gentex had a net margin of 15.50% and a return on equity of 16.78%. The company's quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 earnings per share. As a group, equities analysts predict that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Wednesday, July 8th. Gentex's payout ratio is 25.40%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GNTX shares. JPMorgan Chase & Co. reduced their price objective on shares of Gentex from $28.00 to $27.00 and set a "neutral" rating for the company in a research note on Monday, August 10th. Weiss Ratings upgraded shares of Gentex from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, June 23rd. B. Riley Financial reissued a "buy" rating and issued a $29.00 price target (up from $28.00) on shares of Gentex in a report on Monday, April 27th. Freedom Capital lowered shares of Gentex from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 29th. Finally, Robert W. Baird upped their price target on shares of Gentex from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Gentex 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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