Aurora Investment Counsel Invests $534,000 in Gentex Corporation $GNTX

Key Points

• Aurora Investment Counsel has purchased a new position in Gentex Corporation, acquiring 24,280 shares valued at approximately $534,000.
• Gentex reported a quarterly earnings of $0.47 per share, exceeding analysts' expectations of $0.39, and achieved a revenue of $657.86 million for the quarter.
• The company announced a quarterly dividend of $0.12 per share, with an annualized dividend yield of 1.8%, and has initiated a share buyback plan allowing repurchase of 40 million shares.

Aurora Investment Counsel bought a new position in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 24,280 shares of the auto parts company's stock, valued at approximately $534,000.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Gentex by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 22,581,938 shares of the auto parts company's stock valued at $526,159,000 after purchasing an additional 886,785 shares in the last quarter. Burgundy Asset Management Ltd. raised its stake in Gentex by 40.1% during the 1st quarter. Burgundy Asset Management Ltd. now owns 7,728,209 shares of the auto parts company's stock worth $180,067,000 after buying an additional 2,211,392 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Gentex by 46.2% in the first quarter. JPMorgan Chase & Co. now owns 7,673,701 shares of the auto parts company's stock worth $178,797,000 after purchasing an additional 2,424,471 shares during the last quarter. Ariel Investments LLC raised its stake in shares of Gentex by 10.7% in the first quarter. Ariel Investments LLC now owns 7,082,055 shares of the auto parts company's stock worth $165,012,000 after purchasing an additional 687,329 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Gentex by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,655,948 shares of the auto parts company's stock valued at $108,482,000 after acquiring an additional 160,432 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company's stock.

Gentex Price Performance

Shares of NASDAQ:GNTX opened at $26.44 on Tuesday. Gentex Corporation has a 1 year low of $20.28 and a 1 year high of $31.48. The company has a market cap of $5.80 billion, a PE ratio of 14.94 and a beta of 0.84. The stock's 50-day moving average is $27.71 and its 200 day moving average is $24.44.

Gentex (NASDAQ:GNTX - Get Free Report) last announced its quarterly earnings results 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 return on equity of 16.86% and a net margin of 16.82%.The company had revenue of $657.86 million for the quarter, compared to the consensus estimate of $591.94 million. During the same quarter in the previous year, the business earned $0.37 EPS. Gentex's revenue was up 14.8% compared to the same quarter last year. Gentex has set its FY 2025 guidance at EPS. Analysts expect that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 8th. Gentex's dividend payout ratio (DPR) is currently 27.12%.

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

Wall Street Analysts Forecast Growth

GNTX has been the subject of a number of analyst reports. Robert W. Baird raised their price target on Gentex from $26.00 to $30.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Weiss Ratings restated a "hold (c)" rating on shares of Gentex in a research report on Wednesday, October 8th. B. Riley raised their price target on Gentex from $28.00 to $32.00 and gave the company a "buy" rating in a research report on Monday, July 28th. UBS Group reiterated a "neutral" rating and issued a $29.00 price objective (up previously from $28.00) on shares of Gentex in a report on Monday, October 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Gentex from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Monday. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $29.14.

About Gentex

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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