Man Group plc Acquires Shares of 291,294 Gentex Corporation $GNTX

Man Group plc acquired a new position in Gentex Corporation (NASDAQ:GNTX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 291,294 shares of the auto parts company’s stock, valued at approximately $7,361,000.

Several other institutional investors have also added to or reduced their stakes in GNTX. XXEC Inc. bought a new stake in shares of Gentex in the second quarter valued at approximately $7,705,220,000. BlackRock Inc. purchased a new position in shares of Gentex in the second quarter valued at $550,287,000. Wellington Management Group LLP raised its stake in shares of Gentex by 10.3% during the 3rd quarter. Wellington Management Group LLP now owns 14,828,120 shares of the auto parts company’s stock valued at $419,636,000 after purchasing an additional 1,383,203 shares during the period. Bank of Montreal Can lifted its holdings in Gentex by 14,398.7% during the 4th quarter. Bank of Montreal Can now owns 7,726,057 shares of the auto parts company’s stock worth $179,785,000 after purchasing an additional 7,672,769 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Gentex by 12.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,463,299 shares of the auto parts company’s stock worth $163,067,000 after purchasing an additional 833,919 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Stock Performance

Shares of Gentex stock opened at $22.67 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 $4.83 billion, a price-to-earnings ratio of 11.99 and a beta of 0.79. The company’s 50 day moving average price is $24.04 and its 200-day moving average price is $23.47.

Gentex (NASDAQ:GNTX) last released its quarterly 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 analyst estimates of $669.65 million. Gentex had a return on equity of 16.78% and a net margin of 15.50%.Gentex’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.43 EPS. As a group, equities research analysts forecast that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GNTX shares. Wall Street Zen lowered shares of Gentex from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings raised shares of Gentex from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. reduced their price target 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. UBS Group reissued a “neutral” rating and set a $25.00 price objective (down from $26.00) on shares of Gentex in a research note on Thursday, July 9th. Finally, Freedom Capital cut Gentex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus 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).