Caisse de depot et placement du Quebec Purchases Shares of 3,162,808 Gentex Corporation $GNTX

Caisse de depot et placement du Quebec purchased a new stake in Gentex Corporation (NASDAQ:GNTX) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,162,808 shares of the auto parts company’s stock, valued at approximately $79,924,000. Caisse de depot et placement du Quebec owned 1.49% of Gentex as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in GNTX. Royal Bank of Canada raised its stake in shares of Gentex by 33.1% in the 1st quarter. Royal Bank of Canada now owns 189,561 shares of the auto parts company’s stock valued at $4,418,000 after purchasing an additional 47,150 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Gentex by 1.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,321,634 shares of the auto parts company’s stock worth $30,794,000 after buying an additional 23,454 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Gentex by 255.6% during the first quarter. Empowered Funds LLC now owns 81,142 shares of the auto parts company’s stock worth $1,891,000 after buying an additional 58,323 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Gentex by 8.0% during the second quarter. Invesco Ltd. now owns 813,163 shares of the auto parts company’s stock worth $17,881,000 after buying an additional 60,127 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Gentex by 2,038.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,512 shares of the auto parts company’s stock valued at $99,000 after buying an additional 4,301 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.

Analyst Ratings Changes

GNTX has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their price objective 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. UBS Group reaffirmed a “neutral” rating and issued a $25.00 target price (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. Freedom Capital cut shares of Gentex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Finally, Wall Street Zen downgraded shares of Gentex from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Gentex has a consensus rating of “Hold” and a consensus target price of $26.80.

Gentex Trading Down 3.4%

NASDAQ GNTX opened at $23.06 on Friday. The firm has a market capitalization of $4.91 billion, a P/E ratio of 12.20 and a beta of 0.79. The firm’s fifty day moving average price is $24.10 and its two-hundred day moving average price is $23.48. Gentex Corporation has a 1 year low of $20.48 and a 1 year high of $29.38.

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

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).