AlphaQuest LLC Has $1 Million Stock Position in Gentex Corporation $GNTX

Key Points

• AlphaQuest LLC has reduced its stake in Gentex Corporation by 46.6%, selling 37,491 shares and leaving it with 42,973 shares valued at approximately $1,001,000.
• Gentex reported earnings of $0.47 per share for the last quarter, exceeding analyst expectations of $0.39, with revenue hitting $657.86 million, up 14.8% year-over-year.
• The company has declared a quarterly dividend of $0.12 per share, with a dividend yield of 1.7%, and has authorized a stock repurchase program for up to 40 million shares.

AlphaQuest LLC decreased its position in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 46.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,973 shares of the auto parts company's stock after selling 37,491 shares during the period. AlphaQuest LLC's holdings in Gentex were worth $1,001,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GNTX. Barclays PLC grew its position in shares of Gentex by 66.5% during the 4th quarter. Barclays PLC now owns 179,659 shares of the auto parts company's stock valued at $5,162,000 after buying an additional 71,729 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Gentex by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,495,516 shares of the auto parts company's stock worth $129,156,000 after buying an additional 192,375 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of Gentex by 7.8% during the 4th quarter. MetLife Investment Management LLC now owns 128,273 shares of the auto parts company's stock worth $3,685,000 after buying an additional 9,267 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Gentex by 10.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 14,608 shares of the auto parts company's stock worth $420,000 after buying an additional 1,328 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of Gentex by 34.3% in the 4th quarter. Stifel Financial Corp now owns 135,517 shares of the auto parts company's stock worth $3,894,000 after purchasing an additional 34,601 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company's stock.

Analyst Ratings Changes

GNTX has been the subject of several recent research reports. Industrial Alliance Securities set a $25.00 target price on shares of Gentex in a research note on Friday, July 11th. The Goldman Sachs Group restated a "neutral" rating on shares of Gentex in a report on Friday, July 11th. Wall Street Zen upgraded shares of Gentex from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Robert W. Baird boosted their price target on shares of Gentex from $26.00 to $30.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Finally, B. Riley upped their price objective on shares of Gentex from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $28.63.

Gentex Stock Down 0.7%

Gentex stock traded down $0.21 during mid-day trading on Friday, reaching $27.95. The company had a trading volume of 299,684 shares, compared to its average volume of 2,293,144. Gentex Corporation has a 52 week low of $20.28 and a 52 week high of $31.72. The firm has a market cap of $6.13 billion, a price-to-earnings ratio of 15.79 and a beta of 0.82. The company has a 50 day moving average of $25.03 and a 200-day moving average of $23.56.

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

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, October 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.7%. Gentex's dividend payout ratio (DPR) is 27.12%.

Gentex declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, July 16th that allows the company to repurchase 40,000,000 outstanding shares. This repurchase authorization allows the auto parts company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

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.