221,661 Shares in Gentex Corporation $GNTX Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Gentex Corporation (NASDAQ:GNTX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 221,661 shares of the auto parts company’s stock, valued at approximately $5,601,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of Nova Scotia acquired a new position in shares of Gentex in the second quarter worth about $413,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Gentex during the 2nd quarter valued at about $433,000. Quantbot Technologies LP purchased a new position in shares of Gentex in the 2nd quarter valued at about $3,444,000. Evolve Private Wealth LLC purchased a new position in shares of Gentex in the 2nd quarter valued at about $545,000. Finally, XXEC Inc. acquired a new position in Gentex in the 2nd quarter worth about $7,705,220,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Trading Down 3.4%

GNTX stock opened at $23.06 on Friday. Gentex Corporation has a 12-month low of $20.48 and a 12-month high of $29.38. The business’s 50-day moving average is $24.10 and its 200 day moving average is $23.48. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 12.20 and a beta of 0.79.

Gentex (NASDAQ:GNTX) last announced 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. The business had revenue of $651.30 million during the quarter, compared to analysts’ expectations of $669.65 million. Gentex had a return on equity of 16.78% and a net margin of 15.50%.The business’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.43 earnings per share. As a group, equities analysts forecast that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Analyst Ratings Changes

GNTX has been the topic of a number of recent analyst reports. Weiss Ratings upgraded Gentex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Wall Street Zen cut Gentex from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. UBS Group reissued a “neutral” rating and issued a $25.00 price target (down from $26.00) on shares of Gentex in a research note on Thursday, July 9th. Freedom Capital lowered shares of Gentex from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. 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 research report on Monday, August 10th. One analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $26.80.

About Gentex

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).