Financiere des Professionnels Fonds d investissement inc. Makes New Investment in Gentex Corporation $GNTX

Financiere des Professionnels Fonds d investissement inc. bought a new stake in shares of Gentex Corporation (NASDAQ:GNTX) during the third quarter, HoldingsChannel reports. The institutional investor bought 23,237 shares of the auto parts company’s stock, valued at approximately $658,000.

Several other institutional investors also recently modified their holdings of GNTX. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Gentex by 142.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,589,585 shares of the auto parts company’s stock valued at $106,937,000 after buying an additional 2,695,117 shares during the period. American Century Companies Inc. raised its position in shares of Gentex by 60.5% during the 2nd quarter. American Century Companies Inc. now owns 6,611,258 shares of the auto parts company’s stock valued at $145,382,000 after acquiring an additional 2,492,026 shares during the last quarter. Norges Bank bought a new stake in shares of Gentex during the 2nd quarter valued at $51,815,000. Qube Research & Technologies Ltd lifted its stake in shares of Gentex by 370.8% in the 2nd quarter. Qube Research & Technologies Ltd now owns 2,615,981 shares of the auto parts company’s stock valued at $57,525,000 after purchasing an additional 2,060,287 shares during the period. Finally, Deprince Race & Zollo Inc. bought a new position in shares of Gentex in the 3rd quarter worth $26,283,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GNTX. Robert W. Baird set a $29.00 price objective on Gentex in a report on Monday, October 27th. Zacks Research lowered Gentex from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gentex in a research note on Wednesday, October 8th. The Goldman Sachs Group set a $27.00 price objective on shares of Gentex and gave the stock a “neutral” rating in a research note on Monday, October 27th. Finally, UBS Group restated a “neutral” rating and set a $29.00 price objective (up previously from $28.00) on shares of Gentex in a report on Monday, October 6th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $28.29.

Gentex Price Performance

NASDAQ GNTX opened at $23.69 on Friday. Gentex Corporation has a one year low of $20.28 and a one year high of $29.38. The firm has a market cap of $5.19 billion, a P/E ratio of 13.94 and a beta of 0.78. The stock’s 50-day moving average is $23.21 and its 200-day moving average is $25.05.

Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, October 24th. The auto parts company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The business had revenue of $570.32 million for the quarter, compared to the consensus estimate of $661.10 million. Gentex had a return on equity of 15.86% and a net margin of 15.61%.Gentex’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 earnings per share. Equities analysts anticipate that Gentex Corporation will post 2.04 EPS for the current year.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Wednesday, January 7th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, January 7th. Gentex’s dividend payout ratio (DPR) is presently 28.24%.

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).