Jupiter Topco LLC Purchases New Position in Gentex Corporation $GNTX

Jupiter Topco LLC purchased a new position in Gentex Corporation (NASDAQ:GNTX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 98,940 shares of the auto parts company’s stock, valued at approximately $2,501,000.

Other hedge funds also recently bought and sold shares of the company. Anchor Investment Management LLC acquired a new stake in Gentex in the first quarter valued at approximately $26,000. AdvisorNet Financial Inc increased its position in shares of Gentex by 2,299.0% in the first quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock valued at $52,000 after buying an additional 2,299 shares in the last quarter. Arax Advisory Partners acquired a new position in shares of Gentex during the 4th quarter worth approximately $52,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Gentex during the 2nd quarter worth approximately $54,000. Finally, Employees Retirement System of Texas purchased a new position in shares of Gentex during the 4th quarter valued at approximately $56,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GNTX shares. UBS Group reissued a “neutral” rating and issued a $25.00 price target (down from $26.00) on shares of Gentex in a research note on Thursday, July 9th. JPMorgan Chase & Co. decreased their price objective on shares of Gentex from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, August 10th. Freedom Capital lowered shares of Gentex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Wall Street Zen cut shares of Gentex from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Weiss Ratings upgraded shares of Gentex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $26.80.

Gentex Stock Performance

Shares of GNTX opened at $22.86 on Thursday. The stock has a 50 day moving average price of $23.87 and a 200 day moving average price of $23.43. Gentex Corporation has a one year low of $20.48 and a one year high of $29.38. The stock has a market capitalization of $4.87 billion, a price-to-earnings ratio of 12.10 and a beta of 0.80.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, July 24th. The auto parts company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. Gentex had a return on equity of 16.78% and a net margin of 15.50%.The company had revenue of $651.30 million for the quarter, compared to analyst estimates of $669.65 million. During the same quarter last year, the firm posted $0.43 EPS. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, analysts predict that Gentex Corporation will post 2.07 earnings per share for the current year.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Wednesday, October 7th will be given a dividend of $0.12 per share. 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 presently 25.40%.

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).