Landscape Capital Management L.L.C. Buys Shares of 53,087 Gentex Corporation $GNTX

Landscape Capital Management L.L.C. bought a new stake in Gentex Corporation (NASDAQ:GNTX) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 53,087 shares of the auto parts company’s stock, valued at approximately $1,342,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new position in Gentex in the 2nd quarter worth $550,287,000. Wellington Management Group LLP lifted its position in Gentex by 10.3% during the third quarter. Wellington Management Group LLP now owns 14,828,120 shares of the auto parts company’s stock valued at $419,636,000 after purchasing an additional 1,383,203 shares in the last quarter. Bank of Montreal Can grew its holdings 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. Dimensional Fund Advisors LP grew its holdings in Gentex by 12.6% during the first quarter. Dimensional Fund Advisors LP now owns 7,463,299 shares of the auto parts company’s stock valued at $163,067,000 after purchasing an additional 833,919 shares during the period. Finally, State Street Corp increased its position in Gentex by 1.0% in the second quarter. State Street Corp now owns 7,439,333 shares of the auto parts company’s stock worth $163,591,000 after buying an additional 74,779 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Trading Up 0.2%

Shares of GNTX stock opened at $23.64 on Friday. Gentex Corporation has a 12-month low of $20.48 and a 12-month high of $29.38. The stock’s 50-day moving average price is $24.28 and its 200-day moving average price is $23.50. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 12.51 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 during the quarter, compared to the consensus estimate of $669.65 million. During the same period in the prior year, the company earned $0.43 EPS. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, research analysts predict that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

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

Analyst Ratings Changes

GNTX has been the topic of several recent research reports. Robert W. Baird raised their price objective on Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. B. Riley Financial reiterated a “buy” rating and set a $29.00 price objective (up from $28.00) on shares of Gentex in a research note on Monday, April 27th. Weiss Ratings raised shares of Gentex from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Wall Street Zen cut shares of Gentex from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, 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. One analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Gentex presently has a consensus rating of “Hold” and a consensus target price of $26.80.

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).