UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $48.76 Million Stock Holdings in Gentex Corporation $GNTX

Key Points

• UBS Asset Management reduced its Gentex position by 7% in the second quarter, selling 144,752 shares and retaining 1.93 million shares worth approximately $48.76 million. Institutional investors collectively own 86.76% of the company.
• Analyst sentiment is largely neutral: one analyst rates Gentex a Buy and seven rate it Hold, with an average price target of $26.80. UBS and JPMorgan recently lowered their targets to $25 and $27, respectively.
• Gentex reported quarterly EPS of $0.58, beating estimates of $0.50, although revenue fell 1% year over year to $651.3 million. The company also declared a quarterly dividend of $0.12, equivalent to a 2.1% annual yield.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 7.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,929,671 shares of the auto parts company's stock after selling 144,752 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.91% of Gentex worth $48,763,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Anchor Investment Management LLC bought a new stake in shares of Gentex in the first quarter valued at approximately $26,000. CIBC Private Wealth Group LLC boosted its stake in Gentex by 2,420.7% in the third quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company's stock valued at $58,000 after buying an additional 1,985 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Gentex during the 2nd quarter valued at approximately $54,000. Arax Advisory Partners bought a new stake in shares of Gentex during the fourth quarter worth $52,000. Finally, AdvisorNet Financial Inc grew its position in Gentex by 2,299.0% during the 1st quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company's stock worth $52,000 after acquiring an additional 2,299 shares during the last quarter. Institutional investors own 86.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GNTX shares. Wall Street Zen lowered shares of Gentex from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. UBS Group reaffirmed a "neutral" rating and set a $25.00 target price (down from $26.00) on shares of Gentex in a research note on Thursday, July 9th. Weiss Ratings upgraded shares of Gentex from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, June 23rd. Freedom Capital downgraded Gentex from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Gentex from $28.00 to $27.00 and set a "neutral" rating for the company in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $26.80.

Gentex Stock Performance

NASDAQ GNTX opened at $22.86 on Thursday. The company has a 50-day simple moving average of $23.87 and a 200 day simple moving average of $23.43. Gentex Corporation has a 52-week low of $20.48 and a 52-week high of $29.38. The company has a market capitalization of $4.87 billion, a PE ratio of 12.10 and a beta of 0.80.

Gentex (NASDAQ:GNTX - Get Free Report) last released 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. Gentex had a net margin of 15.50% and a return on equity of 16.78%. The business had revenue of $651.30 million for the quarter, compared to the consensus estimate of $669.65 million. During the same period in the prior year, the firm earned $0.43 earnings per share. The company's revenue was down 1.0% compared to the same quarter last year. As a group, analysts forecast that Gentex Corporation will post 2.07 EPS for the current fiscal year.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Wednesday, October 7th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, October 7th. Gentex's dividend payout ratio is 25.40%.

Gentex 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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