Gentex Corporation $GNTX Position Increased by Oak Family Advisors LLC

Key Points

• Oak Family Advisors LLC increased its position in Gentex Corporation by 18.4%, holding 139,575 shares valued at approximately $3,069,000 after purchasing an additional 21,721 shares during the second quarter.
• Analysts have adjusted their price targets for Gentex, with Robert W. Baird raising it to $30.00 while Zacks Research downgraded it to a "hold" rating, reflecting diverse sentiments among equity research analysts.
• Gentex announced a quarterly dividend of $0.12 per share, indicating a dividend yield of 1.7%, alongside a share repurchase plan allowing the company to buy back 40 million shares.

Oak Family Advisors LLC raised its holdings in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 18.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 139,575 shares of the auto parts company's stock after buying an additional 21,721 shares during the period. Oak Family Advisors LLC owned about 0.06% of Gentex worth $3,069,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in GNTX. Central Pacific Bank Trust Division bought a new stake in Gentex during the first quarter worth approximately $93,000. GAMMA Investing LLC boosted its holdings in Gentex by 2,604.0% during the first quarter. GAMMA Investing LLC now owns 138,798 shares of the auto parts company's stock worth $3,234,000 after buying an additional 133,665 shares in the last quarter. NBC Securities Inc. boosted its holdings in Gentex by 268,600.0% during the first quarter. NBC Securities Inc. now owns 2,687 shares of the auto parts company's stock worth $62,000 after buying an additional 2,686 shares in the last quarter. Harbor Investment Advisory LLC boosted its stake in 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. Finally, XXEC Inc. boosted its stake in Gentex by 83.8% in the 1st quarter. XXEC Inc. now owns 293,831 shares of the auto parts company's stock worth $6,846,000 after purchasing an additional 133,948 shares during the period. 86.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GNTX has been the subject of a number of recent analyst reports. Robert W. Baird raised their price objective on shares of Gentex from $26.00 to $30.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. The Goldman Sachs Group set a $32.00 price objective on shares of Gentex in a research note on Monday. Zacks Research lowered shares of Gentex from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 19th. Wall Street Zen raised shares of Gentex from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, B. Riley raised their price objective on shares of Gentex from $28.00 to $32.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $29.75.

Gentex Stock Down 1.9%

Shares of NASDAQ:GNTX opened at $28.35 on Tuesday. The firm has a fifty day moving average of $27.56 and a two-hundred day moving average of $24.13. The firm has a market capitalization of $6.22 billion, a P/E ratio of 16.02 and a beta of 0.85. Gentex Corporation has a 12-month low of $20.28 and a 12-month high of $31.48.

Gentex (NASDAQ:GNTX - Get Free Report) last issued 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 company 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%. The company's revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the business posted $0.37 EPS. Gentex has set its FY 2025 guidance at EPS. Equities research analysts expect that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.

Gentex Dividend Announcement

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

Gentex declared that its board has authorized a share repurchase plan on Wednesday, July 16th that allows the company to buyback 40,000,000 outstanding shares. This buyback authorization allows the auto parts company to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company's management 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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