Parvin Asset Management LLC Takes $1.09 Million Position in Gentex Corporation $GNTX

Parvin Asset Management LLC purchased a new position in Gentex Corporation (NASDAQ:GNTX) in the second quarter, Holdings Channel.com reports. The firm purchased 42,995 shares of the auto parts company’s stock, valued at approximately $1,086,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Anchor Investment Management LLC bought a new stake in Gentex in the 1st quarter worth approximately $26,000. CIBC Private Wealth Group LLC boosted its stake 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 buying an additional 1,985 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Gentex in the second quarter worth $54,000. Arax Advisory Partners bought a new stake in shares of Gentex in the fourth quarter worth $52,000. Finally, AdvisorNet Financial Inc increased 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 acquiring an additional 2,299 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.

Gentex Trading Up 0.9%

Gentex stock opened at $23.87 on Thursday. Gentex Corporation has a 12-month low of $20.48 and a 12-month high of $29.38. The firm has a market capitalization of $5.08 billion, a price-to-earnings ratio of 12.63 and a beta of 0.79. The firm has a 50 day moving average of $24.16 and a 200 day moving average of $23.48.

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

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, July 8th. Gentex’s dividend payout ratio is 25.40%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GNTX shares. Wall Street Zen downgraded Gentex from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. UBS Group reaffirmed a “neutral” rating and set a $25.00 price target (down from $26.00) on shares of Gentex in a research report on Thursday, July 9th. Weiss Ratings upgraded shares of Gentex from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. cut their target price 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. Finally, Freedom Capital cut shares of Gentex from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus 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).