Evolve Private Wealth LLC Invests $545,000 in Gentex Corporation $GNTX

Evolve Private Wealth LLC acquired a new position in Gentex Corporation (NASDAQ:GNTX) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 21,582 shares of the auto parts company’s stock, valued at approximately $545,000.

Other hedge funds have also recently bought and sold shares of the company. XXEC Inc. bought a new position in Gentex in the 2nd quarter worth about $7,705,220,000. Landscape Capital Management L.L.C. acquired a new position in shares of Gentex during the second quarter worth approximately $1,342,000. Paralel Advisors LLC bought a new position in Gentex in the 2nd quarter worth approximately $2,672,000. Allworth Financial LP bought a new position in Gentex in the 2nd quarter worth approximately $165,000. Finally, Aurora Investment Counsel acquired a new stake in Gentex in the 2nd quarter valued at approximately $376,000. 86.76% of the stock is currently owned by institutional investors.

Gentex Price Performance

Shares of NASDAQ:GNTX opened at $23.59 on Tuesday. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 12.48 and a beta of 0.79. 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 $24.23 and its 200 day moving average price is $23.50.

Gentex (NASDAQ:GNTX) last issued its quarterly 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. 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 analyst estimates of $669.65 million. During the same period last year, the company posted $0.43 EPS. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. On average, sell-side analysts expect that Gentex Corporation will post 2.04 EPS for the current year.

Gentex Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Weiss Ratings raised Gentex from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Wall Street Zen cut Gentex from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Freedom Capital lowered Gentex from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. B. Riley Financial restated 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. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Gentex from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, August 10th. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average 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).