Gentex Corporation $GNTX Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in Gentex Corporation (NASDAQ:GNTX - Free Report) by 59.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 39,135 shares of the auto parts company's stock after selling 58,573 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Gentex were worth $912,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of GNTX. Larson Financial Group LLC lifted 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 period. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Gentex by 85.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,222 shares of the auto parts company's stock worth $28,000 after purchasing an additional 563 shares during the period. Harbor Investment Advisory LLC lifted its position in shares of Gentex by 208.2% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,618 shares of the auto parts company's stock worth $38,000 after purchasing an additional 1,093 shares during the period. UMB Bank n.a. lifted its position in shares of Gentex by 103.3% in the 1st quarter. UMB Bank n.a. now owns 2,124 shares of the auto parts company's stock worth $49,000 after purchasing an additional 1,079 shares during the period. Finally, NBC Securities Inc. lifted its position in shares of Gentex by 268,600.0% in the 1st quarter. NBC Securities Inc. now owns 2,687 shares of the auto parts company's stock worth $62,000 after purchasing an additional 2,686 shares during the period. Hedge funds and other institutional investors own 86.76% of the company's stock.

Wall Street Analysts Forecast Growth

GNTX has been the subject of a number of analyst reports. Wall Street Zen raised shares of Gentex from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. The Goldman Sachs Group reissued a "neutral" rating on shares of Gentex in a research report on Friday, July 11th. Industrial Alliance Securities set a $25.00 target price on shares of Gentex in a research report on Friday, July 11th. Zacks Research raised shares of Gentex from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Finally, B. Riley increased their target price 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. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $28.63.

Gentex Price Performance

Gentex stock traded up $0.6570 during mid-day trading on Friday, reaching $28.0670. 357,799 shares of the company traded hands, compared to its average volume of 2,300,258. Gentex Corporation has a fifty-two week low of $20.28 and a fifty-two week high of $31.75. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 15.84 and a beta of 0.82. The firm's fifty day moving average is $24.36 and its two-hundred day moving average is $23.45.

Gentex (NASDAQ:GNTX - Get Free Report) last issued 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 net margin of 16.82% and a return on equity of 16.86%. The business had revenue of $657.86 million for the quarter, compared to analyst estimates of $591.94 million. During the same quarter in the prior year, the business posted $0.37 EPS. Gentex'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. As a group, equities research analysts predict that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 8th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.7%. Gentex's payout ratio is 27.12%.

Gentex announced that its board has authorized a share buyback program on Wednesday, July 16th that allows the company to repurchase 40,000,000 outstanding shares. This repurchase authorization allows the auto parts company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

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.