40,592 Shares in Gentex Corporation $GNTX Acquired by Capstone Investment Advisors LLC

Capstone Investment Advisors LLC purchased a new position in shares of Gentex Corporation (NASDAQ:GNTX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 40,592 shares of the auto parts company’s stock, valued at approximately $1,026,000.

Several other institutional investors and hedge funds have also bought and sold shares of GNTX. XXEC Inc. purchased a new stake in shares of Gentex in the 2nd quarter valued at $7,705,220,000. BlackRock Inc. purchased a new position in shares of Gentex during the second quarter worth $550,287,000. Bank of Montreal Can lifted its position in Gentex by 14,398.7% during the fourth quarter. Bank of Montreal Can now owns 7,726,057 shares of the auto parts company’s stock valued at $179,785,000 after purchasing an additional 7,672,769 shares during the period. Caisse de depot et placement du Quebec acquired a new position in Gentex during the second quarter valued at $79,924,000. Finally, Norges Bank purchased a new stake in Gentex in the fourth quarter valued at $52,767,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Gentex Stock Performance

Shares of Gentex stock opened at $23.06 on Friday. The firm has a 50-day simple moving average of $24.10 and a two-hundred day simple moving average of $23.48. Gentex Corporation has a fifty-two week low of $20.48 and a fifty-two week high of $29.38. The company has a market cap of $4.91 billion, a P/E ratio of 12.20 and a beta of 0.79.

Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, July 24th. The auto parts company reported $0.58 EPS 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 firm had revenue of $651.30 million for the quarter, compared to analysts’ expectations of $669.65 million. During the same period last year, the firm earned $0.43 EPS. The company’s quarterly revenue was down 1.0% on a year-over-year basis. Equities research analysts forecast that Gentex Corporation will post 2.04 EPS for the current year.

Analysts Set New Price Targets

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