Axa S.A. Grows Stake in Gentex Co. (NASDAQ:GNTX)

Axa S.A. grew its position in Gentex Co. (NASDAQ:GNTX) by 8.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 212,879 shares of the auto parts company’s stock after purchasing an additional 15,892 shares during the quarter. Axa S.A.’s holdings in Gentex were worth $7,045,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Kempen Capital Management N.V. grew its holdings in Gentex by 14.0% in the second quarter. Kempen Capital Management N.V. now owns 863,825 shares of the auto parts company’s stock worth $28,584,000 after purchasing an additional 105,896 shares during the last quarter. Seven Eight Capital LP purchased a new position in Gentex in the second quarter worth $1,059,000. Trexquant Investment LP purchased a new position in Gentex in the second quarter worth $477,000. Cooke & Bieler LP grew its holdings in Gentex by 32.1% in the second quarter. Cooke & Bieler LP now owns 3,051,044 shares of the auto parts company’s stock worth $100,959,000 after purchasing an additional 741,660 shares during the last quarter. Finally, Goelzer Investment Management Inc. grew its holdings in shares of Gentex by 1.6% during the second quarter. Goelzer Investment Management Inc. now owns 294,936 shares of the auto parts company’s stock valued at $9,759,000 after buying an additional 4,597 shares during the last quarter. 81.67% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have recently weighed in on GNTX shares. The Goldman Sachs Group dropped their price objective on shares of Gentex from $32.00 to $30.00 and set a “sell” rating on the stock in a report on Sunday, September 26th. Seaport Res Ptn upgraded shares of Gentex from a “neutral” rating to a “buy” rating in a research report on Monday, July 26th. KeyCorp dropped their price objective on shares of Gentex from $43.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, July 26th. B. Riley reissued a “buy” rating and issued a $32.25 price target (down previously from $45.00) on shares of Gentex in a research note on Monday, July 26th. Finally, Seaport Global Securities raised shares of Gentex from a “neutral” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Monday, July 26th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Gentex has a consensus rating of “Hold” and a consensus target price of $31.16.

In other Gentex news, Director John A. Mulder sold 7,000 shares of the stock in a transaction that occurred on Tuesday, July 27th. The shares were sold at an average price of $32.65, for a total transaction of $228,550.00. Following the sale, the director now directly owns 41,365 shares in the company, valued at approximately $1,350,567.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.38% of the stock is owned by corporate insiders.

NASDAQ:GNTX opened at $36.28 on Thursday. The stock has a market capitalization of $8.67 billion, a P/E ratio of 19.30, a PEG ratio of 1.61 and a beta of 1.03. The company has a 50 day moving average price of $32.44 and a 200 day moving average price of $33.63. Gentex Co. has a fifty-two week low of $26.90 and a fifty-two week high of $37.75.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Thursday, July 22nd. The auto parts company reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.07). The company had revenue of $428.00 million for the quarter, compared to analysts’ expectations of $458.02 million. Gentex had a return on equity of 23.80% and a net margin of 24.03%. The business’s revenue for the quarter was up 86.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.02 EPS. On average, equities analysts predict that Gentex Co. will post 1.85 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 21st. Shareholders of record on Friday, October 8th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, October 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.32%. Gentex’s dividend payout ratio (DPR) is presently 34.04%.

About Gentex

Gentex Corp. is a technology company, which engages in the design, development, and manufacture and supply of digital vision, connected car, dimmable glass, and fire protection products. The firm operates through Automotive Products and Other segments. The Automotive Products segment operates in virtually all of the foregoing facilities.

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Institutional Ownership by Quarter for Gentex (NASDAQ:GNTX)

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