Geneos Wealth Management Inc. Grows Holdings 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. increased its position in Gentex Corporation (NASDAQ:GNTX - Free Report) by 23,142.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,496 shares of the auto parts company's stock after acquiring 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.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Gentex by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 22,581,938 shares of the auto parts company's stock worth $526,159,000 after acquiring an additional 886,785 shares in the last quarter. Burgundy Asset Management Ltd. increased its holdings in Gentex by 40.1% in 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 acquiring an additional 2,211,392 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Gentex by 46.2% in the 1st 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 period. Ariel Investments LLC grew its holdings in Gentex by 10.7% during the 1st quarter. Ariel Investments LLC now owns 7,082,055 shares of the auto parts company's stock valued at $165,012,000 after buying an additional 687,329 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised 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 buying an additional 160,432 shares during the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GNTX shares. B. Riley lifted 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. Zacks Research upgraded shares of Gentex from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 20th. Industrial Alliance Securities set a $25.00 price objective on Gentex in a research report on Friday, July 11th. Wall Street Zen raised Gentex from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, UBS Group raised their price target on Gentex from $23.00 to $28.00 and gave the company a "neutral" rating in a report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Gentex presently has a consensus rating of "Hold" and a consensus price target of $28.63.

Gentex Stock Performance

Shares of GNTX opened at $28.46 on Friday. The company's fifty day moving average is $26.34 and its 200 day moving average is $23.83. Gentex Corporation has a fifty-two week low of $20.28 and a fifty-two week high of $31.72. The stock has a market capitalization of $6.25 billion, a PE ratio of 16.08 and a beta of 0.85.

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 for the quarter, topping the consensus estimate of $0.39 by $0.08. Gentex had a net margin of 16.82% and a return on equity of 16.86%. The company had revenue of $657.86 million for the quarter, compared to analysts' expectations of $591.94 million. During the same quarter in the previous year, the business posted $0.37 earnings per share. Gentex's quarterly revenue was up 14.8% on a year-over-year basis. Gentex has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex announced that its board has authorized a stock buyback plan on Wednesday, July 16th that authorizes the company to buyback 40,000,000 outstanding shares. This buyback authorization authorizes the auto parts company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Gentex Dividend Announcement

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

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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