Odyssean LLC Makes New $789,000 Investment in Gentex Corporation $GNTX

Odyssean LLC acquired a new position in Gentex Corporation (NASDAQ:GNTX) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 31,237 shares of the auto parts company’s stock, valued at approximately $789,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Anchor Investment Management LLC bought a new stake in shares of Gentex during the 1st quarter valued at $26,000. CIBC Private Wealth Group LLC boosted its holdings in Gentex by 2,420.7% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company’s stock worth $58,000 after buying an additional 1,985 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Gentex in the 2nd quarter worth $54,000. Arax Advisory Partners bought a new stake in Gentex during the fourth quarter valued at about $52,000. Finally, AdvisorNet Financial Inc raised its holdings in Gentex by 2,299.0% during the first quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock valued at $52,000 after acquiring an additional 2,299 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Stock Up 1.3%

Shares of GNTX stock opened at $23.14 on Friday. The stock has a market cap of $4.93 billion, a P/E ratio of 12.24 and a beta of 0.80. Gentex Corporation has a 52 week low of $20.48 and a 52 week high of $29.38. The company’s fifty day simple moving average is $23.76 and its two-hundred day simple moving average is $23.41.

Gentex (NASDAQ:GNTX) 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. The business 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 business’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 EPS. On average, analysts anticipate that Gentex Corporation will post 2.07 EPS for the current fiscal year.

Gentex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Wednesday, October 7th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $0.48 dividend on an annualized basis and a yield of 2.1%. Gentex’s dividend payout ratio is presently 25.40%.

Analyst Ratings Changes

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