184,996 Shares in Gentex Corporation $GNTX Acquired by Caxton Associates LLP

Key Points

• Caxton Associates LLP has acquired 184,996 shares of Gentex Corporation, valued at approximately $4.31 million, marking their entry into the automotive parts company.
• Gentex reported an impressive quarterly earnings of $0.47 per share, surpassing estimates and indicating a 14.8% revenue increase compared to the previous year.
• The company's Board of Directors has authorized a stock buyback plan allowing for the repurchase of up to 40 million shares, reflecting confidence in the stock's valuation.

Caxton Associates LLP bought a new position in Gentex Corporation (NASDAQ:GNTX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 184,996 shares of the auto parts company's stock, valued at approximately $4,310,000. Caxton Associates LLP owned about 0.08% of Gentex as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC increased its position in shares of Gentex by 1,471.0% in the 1st quarter. Larson Financial Group LLC now owns 1,084 shares of the auto parts company's stock worth $25,000 after purchasing an additional 1,015 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Gentex by 85.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,222 shares of the auto parts company's stock valued at $28,000 after buying an additional 563 shares during the last quarter. Brooklyn Investment Group grew its position in shares of Gentex by 305.7% during the 1st quarter. Brooklyn Investment Group now owns 1,217 shares of the auto parts company's stock valued at $28,000 after buying an additional 917 shares during the last quarter. Harbor Investment Advisory LLC grew its position in shares of Gentex by 208.2% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,618 shares of the auto parts company's stock valued at $38,000 after buying an additional 1,093 shares during the last quarter. Finally, State of Wyoming bought a new stake in shares of Gentex during the 1st quarter valued at about $45,000. Institutional investors own 86.76% of the company's stock.

Gentex Trading Up 0.2%

Gentex stock traded up $0.05 during midday trading on Friday, reaching $28.46. 1,658,896 shares of the stock traded hands, compared to its average volume of 1,758,711. The firm has a fifty day moving average price of $26.34 and a two-hundred day moving average price of $23.83. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of 16.08 and a beta of 0.85. Gentex Corporation has a fifty-two week low of $20.28 and a fifty-two week high of $31.72.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its 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. The firm had revenue of $657.86 million during the quarter, compared to analyst estimates of $591.94 million. Gentex had a net margin of 16.82% and a return on equity of 16.86%. Gentex's revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.37 EPS. Gentex has set its FY 2025 guidance at EPS. Analysts anticipate that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex Announces Dividend

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

Gentex declared that its board has initiated a stock repurchase plan on Wednesday, July 16th that authorizes the company to repurchase 40,000,000 shares. This repurchase authorization authorizes the auto parts company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GNTX. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Gentex in a research report on Friday, July 11th. Robert W. Baird boosted their price objective on shares of Gentex from $26.00 to $30.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. B. Riley boosted their price objective on shares of Gentex from $28.00 to $32.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Industrial Alliance Securities set a $25.00 price objective on shares of Gentex in a research report on Friday, July 11th. Finally, UBS Group boosted their price objective on shares of Gentex from $23.00 to $28.00 and gave the company a "neutral" rating in a research 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 issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target 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.