Empowered Funds LLC Takes Position in Gentex Corporation $GNTX

Empowered Funds LLC acquired a new stake in shares of Gentex Corporation (NASDAQ:GNTX) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 257,264 shares of the auto parts company’s stock, valued at approximately $6,501,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. United Capital Financial Advisors LLC purchased a new stake in Gentex during the 2nd quarter worth about $539,000. Grandeur Peak Global Advisors LLC purchased a new position in Gentex in the 2nd quarter valued at about $1,429,000. Public Employees Retirement System of Ohio purchased a new position in Gentex in the 2nd quarter valued at about $1,533,000. XXEC Inc. acquired a new stake in shares of Gentex during the 2nd quarter worth about $51,261,000. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of Gentex during the 2nd quarter worth about $1,026,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Stock Performance

NASDAQ GNTX opened at $22.67 on Monday. The business’s 50-day moving average price is $24.04 and its 200 day moving average price is $23.47. Gentex Corporation has a twelve month low of $20.48 and a twelve month high of $29.38. The company has a market capitalization of $4.83 billion, a PE ratio of 11.99 and a beta of 0.79.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results 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 company had revenue of $651.30 million during the quarter, compared to analysts’ expectations of $669.65 million. Gentex had a return on equity of 16.78% and a net margin of 15.50%.The firm’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 EPS. Equities analysts predict that Gentex Corporation will post 2.04 EPS for the current year.

Analyst Ratings Changes

GNTX has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Gentex from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, August 10th. Freedom Capital downgraded shares of Gentex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. UBS Group restated a “neutral” rating and set a $25.00 target price (down from $26.00) on shares of Gentex in a research report on Thursday, July 9th. 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 Gentex from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. 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 MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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).