Two Sigma Securities LLC Acquires 29,417 Shares of Gentex Corporation $GNTX

Two Sigma Securities LLC boosted its holdings in shares of Gentex Corporation (NASDAQ:GNTX) by 293.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,454 shares of the auto parts company’s stock after acquiring an additional 29,417 shares during the quarter. Two Sigma Securities LLC’s holdings in Gentex were worth $997,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of GNTX. Clearstead Advisors LLC increased its stake in Gentex by 21.4% in the fourth quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company’s stock worth $58,000 after purchasing an additional 437 shares during the period. Gagnon Securities LLC boosted its stake in shares of Gentex by 0.8% during the fourth quarter. Gagnon Securities LLC now owns 55,672 shares of the auto parts company’s stock valued at $1,295,000 after purchasing an additional 458 shares during the period. Crumly & Associates Inc. grew its holdings in shares of Gentex by 3.7% in the second quarter. Crumly & Associates Inc. now owns 13,291 shares of the auto parts company’s stock worth $336,000 after purchasing an additional 478 shares during the last quarter. First Citizens Bank & Trust Co. grew its holdings in shares of Gentex by 1.6% in the first quarter. First Citizens Bank & Trust Co. now owns 30,294 shares of the auto parts company’s stock worth $662,000 after purchasing an additional 487 shares during the last quarter. Finally, Sei Investments Co. increased its stake in Gentex by 0.3% in the 1st quarter. Sei Investments Co. now owns 196,776 shares of the auto parts company’s stock worth $4,300,000 after buying an additional 521 shares during the period. Institutional investors own 86.76% of the company’s stock.

Gentex Price Performance

NASDAQ:GNTX opened at $22.37 on Tuesday. Gentex Corporation has a 1-year low of $20.48 and a 1-year high of $29.38. The company has a 50-day moving average of $23.97 and a 200 day moving average of $23.46. The firm has a market cap of $4.76 billion, a PE ratio of 11.84 and a beta of 0.79.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, July 24th. The auto parts company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.50 by $0.08. Gentex had a return on equity of 16.78% and a net margin of 15.50%.The firm had revenue of $651.30 million during the quarter, compared to analyst estimates of $669.65 million. During the same period in the previous year, the company posted $0.43 EPS. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. Sell-side analysts anticipate that Gentex Corporation will post 2.04 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 of this dividend is Wednesday, October 7th. Gentex’s dividend payout ratio (DPR) is presently 25.40%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GNTX. 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 lowered shares of Gentex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. UBS Group reaffirmed a “neutral” rating and set a $25.00 price target (down from $26.00) on shares of Gentex in a research note on Thursday, July 9th. 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 report on Monday, August 10th. Finally, Wall Street Zen cut Gentex from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. One investment analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Gentex currently has a consensus rating of “Hold” and a consensus target price of $26.80.

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).