Geneos Wealth Management Inc. Has $617,000 Stake in Gentex Corporation $GNTX

Key Points

• Geneos Wealth Management Inc. significantly increased its position in Gentex Corporation by 23,142.1% in the 1st quarter, acquiring additional shares worth $617,000.
• Several other institutional investors also raised their stakes, with Vanguard Group Inc. increasing holdings by 4.1% and JPMorgan Chase & Co. boosting its stake by 46.2%.
• Gentex announced a stock buyback plan, authorizing the repurchase of 40 million shares, signaling the board's belief that the stock is currently undervalued.

Geneos Wealth Management Inc. boosted its stake in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 23,142.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,496 shares of the auto parts company's stock after purchasing an additional 26,382 shares during the quarter. Geneos Wealth Management Inc.'s holdings in Gentex were worth $617,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its position in Gentex by 1,471.0% during the first 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. Brooklyn Investment Group boosted its position in Gentex by 305.7% during the first quarter. Brooklyn Investment Group now owns 1,217 shares of the auto parts company's stock worth $28,000 after purchasing an additional 917 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in Gentex by 85.4% during the first 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 boosted its position in Gentex by 208.2% during the first 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. Finally, State of Wyoming bought a new stake in Gentex during the first quarter worth approximately $45,000. Institutional investors own 86.76% of the company's stock.

Gentex Price Performance

Shares of NASDAQ GNTX traded down $0.01 during trading hours on Thursday, reaching $29.05. The stock had a trading volume of 1,782,933 shares, compared to its average volume of 1,760,572. The business's fifty day moving average is $26.79 and its two-hundred day moving average is $23.95. The company has a market cap of $6.38 billion, a price-to-earnings ratio of 16.41 and a beta of 0.85. Gentex Corporation has a twelve month low of $20.28 and a twelve month high of $31.72.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its earnings results on Friday, July 25th. The auto parts company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.08. The business had revenue of $657.86 million during the quarter, compared to analyst estimates of $591.94 million. Gentex had a return on equity of 16.86% and a net margin of 16.82%.Gentex's revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 earnings per share. Gentex has set its FY 2025 guidance at EPS. Sell-side analysts forecast 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 paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Wednesday, October 8th. Gentex's dividend payout ratio is presently 27.12%.

Gentex declared that its Board of Directors has approved a share repurchase plan on Wednesday, July 16th that permits the company to repurchase 40,000,000 shares. This repurchase authorization permits the auto parts company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have issued reports on GNTX. B. Riley upped their target price on Gentex from $28.00 to $32.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Robert W. Baird upped 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. UBS Group upped their price target on Gentex from $23.00 to $28.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Industrial Alliance Securities set a $25.00 price target on Gentex in a report on Friday, July 11th. Finally, Zacks Research upgraded Gentex from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $28.63.

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.