Caisse de depot et placement du Quebec Takes $79.92 Million Position in Gentex Corporation $GNTX

Caisse de depot et placement du Quebec bought a new position in shares of Gentex Corporation (NASDAQ:GNTX) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,162,808 shares of the auto parts company’s stock, valued at approximately $79,924,000.

Several other hedge funds have also added to or reduced their stakes in GNTX. Anchor Investment Management LLC acquired a new position in shares of Gentex in the first quarter valued at about $26,000. CIBC Private Wealth Group LLC grew its position in shares of Gentex by 2,420.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company’s stock worth $58,000 after purchasing an additional 1,985 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Gentex during the second quarter worth approximately $54,000. Arax Advisory Partners acquired a new stake in shares of Gentex in the fourth quarter valued at approximately $52,000. Finally, AdvisorNet Financial Inc boosted its stake in shares of Gentex by 2,299.0% in the first quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock valued at $52,000 after buying an additional 2,299 shares during the period. 86.76% of the stock is owned by institutional investors and hedge funds.

Gentex Stock Performance

Gentex stock opened at $23.06 on Friday. Gentex Corporation has a 52 week low of $20.48 and a 52 week high of $29.38. The stock has a market capitalization of $4.91 billion, a P/E ratio of 12.20 and a beta of 0.79. The stock has a fifty day moving average of $24.10 and a 200-day moving average of $23.48.

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

Analyst Ratings Changes

A number of research firms have commented on GNTX. Freedom Capital lowered Gentex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. cut their target price on Gentex from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, August 10th. Wall Street Zen lowered Gentex from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings upgraded Gentex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Finally, UBS Group reaffirmed a “neutral” rating and set a $25.00 price objective (down from $26.00) on shares of Gentex in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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).