Alpha Omega Wealth Management LLC Buys 17,565 Shares of Gentex Corporation $GNTX

Key Points

• Alpha Omega Wealth Management LLC increased its stake in Gentex Corporation by 9.3%, acquiring an additional 17,565 shares, bringing its total ownership to approximately 206,089 shares, valued at around $4.53 million.
• Gentex recently announced a quarterly dividend of $0.12 per share, which will be paid on October 22nd, with a yield of 1.7% and a payout ratio of 27.12%.
• After reporting better-than-expected financial results, Gentex has set its earnings per share guidance for FY 2025 and received multiple price target upgrades from various analysts, reflecting a consensus rating of "Hold" with an average target price of $28.63.

Alpha Omega Wealth Management LLC boosted its stake in Gentex Corporation (NASDAQ:GNTX - Free Report) by 9.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 206,089 shares of the auto parts company's stock after purchasing an additional 17,565 shares during the quarter. Alpha Omega Wealth Management LLC owned approximately 0.09% of Gentex worth $4,532,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in GNTX. ProShare Advisors LLC boosted its stake in Gentex by 6.0% in the 4th quarter. ProShare Advisors LLC now owns 10,641 shares of the auto parts company's stock worth $306,000 after purchasing an additional 605 shares during the period. Waverly Advisors LLC purchased a new stake in shares of Gentex in the 4th quarter valued at about $313,000. Public Employees Retirement System of Ohio raised its holdings in shares of Gentex by 2.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 109,655 shares of the auto parts company's stock valued at $3,150,000 after acquiring an additional 3,137 shares in the last quarter. Forum Financial Management LP purchased a new stake in shares of Gentex in the 4th quarter valued at about $214,000. Finally, Brooklyn FI LLC purchased a new stake in shares of Gentex in the 4th quarter valued at about $278,000. Institutional investors own 86.76% of the company's stock.

Gentex Stock Down 1.0%

NASDAQ GNTX opened at $28.39 on Tuesday. Gentex Corporation has a twelve month low of $20.28 and a twelve month high of $31.72. The firm has a market capitalization of $6.23 billion, a PE ratio of 16.04 and a beta of 0.85. The stock's 50 day moving average is $27.01 and its 200 day moving average is $24.00.

Gentex (NASDAQ:GNTX - Get Free Report) last released its earnings results on Friday, July 25th. The auto parts company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.39 by $0.08. Gentex had a return on equity of 16.86% and a net margin of 16.82%.The business had revenue of $657.86 million for the quarter, compared to the consensus estimate of $591.94 million. During the same period in the previous year, the company posted $0.37 earnings per share. The company's revenue for the quarter was up 14.8% compared to the same quarter last year. Gentex has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex announced that its board has approved a stock buyback program on Wednesday, July 16th that authorizes the company to repurchase 40,000,000 outstanding shares. This repurchase authorization authorizes the auto parts company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 8th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, October 8th. Gentex's payout ratio is 27.12%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. B. Riley raised their price target on Gentex from $28.00 to $32.00 and gave the company a "buy" rating in a report on Monday, July 28th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Gentex in a report on Friday, July 11th. UBS Group raised their price target on Gentex from $23.00 to $28.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Industrial Alliance Securities set a $25.00 price target on Gentex in a report on Friday, July 11th. Finally, Robert W. Baird raised their price target on Gentex from $26.00 to $30.00 and gave the company a "neutral" rating in a report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $28.63.

Gentex Profile

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.

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