187,246,546 Shares in Gentex Corporation $GNTX Acquired by XXEC Inc.

XXEC Inc. bought a new position in shares of Gentex Corporation (NASDAQ:GNTX) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 187,246,546 shares of the auto parts company’s stock, valued at approximately $7,705,220,000. Gentex accounts for 3.9% of XXEC Inc.’s holdings, making the stock its 3rd largest position. XXEC Inc. owned 0.88% of Gentex as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of GNTX. Anchor Investment Management LLC bought a new stake in Gentex during the 1st quarter valued at $26,000. CIBC Private Wealth Group LLC raised its position in shares of 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 acquiring an additional 1,985 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Gentex during 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 boosted its position 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 purchasing an additional 2,299 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Stock Performance

Gentex stock opened at $23.64 on Friday. The stock has a 50-day moving average of $24.28 and a two-hundred day moving average of $23.50. Gentex Corporation has a one year low of $20.48 and a one year high of $29.38. The stock has a market cap of $5.03 billion, a PE ratio of 12.51 and a beta of 0.79.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, July 24th. The auto parts company reported $0.58 earnings per share 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 business had revenue of $651.30 million during the quarter, compared to the consensus estimate of $669.65 million. During the same quarter last year, the company earned $0.43 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. As a group, sell-side analysts predict that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th were paid a $0.12 dividend. The ex-dividend date was Wednesday, July 8th. This represents a $0.48 dividend on an annualized basis and a yield of 2.0%. Gentex’s dividend payout ratio (DPR) is 25.40%.

Analysts Set New Price Targets

GNTX has been the subject of a number of recent research reports. UBS Group reiterated a “neutral” rating and issued a $25.00 target price (down from $26.00) on shares of Gentex in a report on Thursday, July 9th. Robert W. Baird raised their price target on shares of Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, April 27th. JPMorgan Chase & Co. lowered their price target on shares of Gentex from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, August 10th. B. Riley Financial reaffirmed a “buy” rating and issued a $29.00 price objective (up from $28.00) on shares of Gentex in a research report on Monday, April 27th. Finally, Freedom Capital cut shares of Gentex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, Gentex presently has an average 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).