Hsbc Holdings PLC Buys Shares of 87,130 Gentex Corporation $GNTX

Hsbc Holdings PLC purchased a new position in shares of Gentex Corporation (NASDAQ:GNTX) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 87,130 shares of the auto parts company’s stock, valued at approximately $2,203,000.

A number of other institutional investors have also modified their holdings of the company. Clearstead Advisors LLC raised its holdings in shares of Gentex by 21.4% in the 4th quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company’s stock valued at $58,000 after buying an additional 437 shares during the period. Gagnon Securities LLC grew its position in Gentex by 0.8% in the 4th quarter. Gagnon Securities LLC now owns 55,672 shares of the auto parts company’s stock valued at $1,295,000 after acquiring an additional 458 shares in the last quarter. Crumly & Associates Inc. increased its stake in Gentex by 3.7% during 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 period. First Citizens Bank & Trust Co. increased its stake in Gentex by 1.6% during 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 period. Finally, Sei Investments Co. lifted its position in shares of Gentex by 0.3% during the first quarter. Sei Investments Co. now owns 196,776 shares of the auto parts company’s stock worth $4,300,000 after purchasing an additional 521 shares in the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Gentex Stock Performance

GNTX stock opened at $22.67 on Monday. The company’s 50 day moving average price is $24.04 and its 200 day moving average price is $23.47. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of 11.99 and a beta of 0.79. Gentex Corporation has a fifty-two week low of $20.48 and a fifty-two week high of $29.38.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, July 24th. The auto parts company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. Gentex had a net margin of 15.50% and a return on equity of 16.78%. The company had revenue of $651.30 million during the quarter, compared to the consensus estimate of $669.65 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. Equities analysts forecast that Gentex Corporation will post 2.04 EPS for the current fiscal year.

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).