Quantbot Technologies LP Buys New Position in Gentex Corporation $GNTX

Key Points

• Quantbot Technologies LP initiated a Gentex position by purchasing 136,283 shares worth approximately $3.44 million, while institutional investors collectively own 86.76% of the company.
• Gentex reported quarterly EPS of $0.58, beating estimates of $0.50, but revenue of $651.3 million fell short of expectations and declined 1% year over year.
• Shares opened at $23.64, and analysts maintain a consensus “Hold” rating with an average price target of $26.80; the company also pays a $0.12 quarterly dividend, yielding about 2%.

Quantbot Technologies LP purchased a new stake in Gentex Corporation (NASDAQ:GNTX - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 136,283 shares of the auto parts company's stock, valued at approximately $3,444,000. Quantbot Technologies LP owned about 0.06% of Gentex as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Evolve Private Wealth LLC acquired a new position in shares of Gentex during the second quarter valued at about $545,000. XXEC Inc. acquired a new stake in Gentex in the 2nd quarter worth approximately $7,705,220,000. Landscape Capital Management L.L.C. purchased a new stake in Gentex during the 2nd quarter worth approximately $1,342,000. Paralel Advisors LLC purchased a new stake in Gentex during the 2nd quarter worth approximately $2,672,000. Finally, Allworth Financial LP purchased a new stake in Gentex during the 2nd quarter worth approximately $165,000. Institutional investors and hedge funds own 86.76% of the company's stock.

Gentex Stock Performance

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

Gentex (NASDAQ:GNTX - Get Free Report) last issued its earnings results on Friday, July 24th. The auto parts company reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.08. The firm had revenue of $651.30 million for 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 company's revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.43 earnings per share. As a group, analysts forecast that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex Dividend Announcement

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

Wall Street Analyst Weigh In

GNTX has been the subject of several research reports. UBS Group reiterated a "neutral" rating and set a $25.00 price objective (down from $26.00) on shares of Gentex in a research note on Thursday, July 9th. Robert W. Baird upped their target price on Gentex from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Monday, April 27th. Freedom Capital lowered Gentex from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. lowered their price target on Gentex from $28.00 to $27.00 and set a "neutral" rating for the company in a research report on Monday, August 10th. Finally, B. Riley Financial reiterated a "buy" rating and set a $29.00 price target (up from $28.00) on shares of Gentex in a research note on Monday, April 27th. One analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $26.80.

About Gentex

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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