CHICAGO TRUST Co NA Buys New Position in Gentex Corporation $GNTX

Key Points

• Chicago Trust Co NA has acquired a new stake in Gentex Corporation, purchasing 44,624 shares valued at approximately $981,000 during the 2nd quarter.
• Gentex's stock price target was lifted by multiple analysts, with UBS Group setting it at $28.00 and Robert W. Baird at $30.00, indicating a mixed outlook on its performance.
• The company recently declared a quarterly dividend of $0.12 per share, which reflects a 1.7% yield based on an annualized dividend of $0.48.

CHICAGO TRUST Co NA acquired a new stake in Gentex Corporation (NASDAQ:GNTX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 44,624 shares of the auto parts company's stock, valued at approximately $981,000.

Other large investors also recently made changes to their positions in the company. MFA Wealth Advisors LLC boosted its stake in shares of Gentex by 10.5% during the 2nd quarter. MFA Wealth Advisors LLC now owns 21,595 shares of the auto parts company's stock worth $475,000 after acquiring an additional 2,059 shares in the last quarter. GAMMA Investing LLC lifted its position in Gentex by 12.8% in the 2nd quarter. GAMMA Investing LLC now owns 6,721 shares of the auto parts company's stock worth $148,000 after buying an additional 764 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Gentex by 34.4% during the 2nd quarter. UMB Bank n.a. now owns 2,854 shares of the auto parts company's stock worth $63,000 after purchasing an additional 730 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Gentex by 25.9% during the second quarter. Assenagon Asset Management S.A. now owns 123,473 shares of the auto parts company's stock valued at $2,715,000 after acquiring an additional 25,392 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new position in shares of Gentex during the 2nd quarter valued at $3,753,000. Institutional investors own 86.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GNTX. UBS Group lifted their price target 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. Robert W. Baird upped their target price on shares of Gentex from $26.00 to $30.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Wall Street Zen upgraded Gentex from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. B. Riley increased their price target 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. Finally, Zacks Research cut Gentex from a "strong-buy" rating to a "hold" rating in a report on Friday, September 19th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $28.63.

Gentex Stock Up 0.0%

NASDAQ:GNTX opened at $28.40 on Wednesday. Gentex Corporation has a 12-month low of $20.28 and a 12-month high of $31.72. The stock's 50 day moving average price is $27.13 and its two-hundred day moving average price is $24.03. The firm has a market capitalization of $6.23 billion, a price-to-earnings ratio of 16.05 and a beta of 0.85.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The auto parts company reported $0.47 earnings per share 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 firm had revenue of $657.86 million for the quarter, compared to analysts' expectations of $591.94 million. During the same quarter last year, the business earned $0.37 EPS. The company's quarterly revenue was up 14.8% compared to the same quarter last year. Gentex has set its FY 2025 guidance at EPS. Equities research analysts expect that Gentex Corporation will post 2.04 EPS for the current year.

Gentex Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a $0.48 annualized dividend and a yield of 1.7%. Gentex's payout ratio is currently 27.12%.

Gentex declared that its Board of Directors has authorized a stock buyback 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. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Gentex Company 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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