Gentex Corporation $GNTX Shares Sold by Birch Hill Investment Advisors LLC

Key Points

• Birch Hill Investment Advisors LLC has reduced its stake in Gentex Corporation by 26.3%, selling 83,460 shares and now owning approximately 233,295 shares valued at $5.13 million.
• Several hedge funds, including Fuller & Thaler and JPMorgan Chase, have significantly increased their positions in Gentex during the last quarter, indicating strong institutional interest.
• Gentex recently announced a quarterly dividend of $0.12 per share, representing an annualized yield of 1.8%, along with a share repurchase plan allowing for the buyback of 40 million shares.

Birch Hill Investment Advisors LLC reduced its position in Gentex Corporation (NASDAQ:GNTX - Free Report) by 26.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 233,295 shares of the auto parts company's stock after selling 83,460 shares during the quarter. Birch Hill Investment Advisors LLC owned about 0.10% of Gentex worth $5,130,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GNTX. Fuller & Thaler Asset Management Inc. raised its stake in Gentex by 487.7% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,447,651 shares of the auto parts company's stock valued at $80,330,000 after purchasing an additional 2,860,969 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Gentex by 142.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,589,585 shares of the auto parts company's stock worth $106,937,000 after acquiring an additional 2,695,117 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Gentex by 148.5% in the 1st quarter. American Century Companies Inc. now owns 4,119,232 shares of the auto parts company's stock worth $95,978,000 after acquiring an additional 2,461,835 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of 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 acquiring an additional 2,424,471 shares during the last quarter. Finally, Burgundy Asset Management Ltd. increased its stake in shares of 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 during the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Gentex in a research note on Wednesday, October 8th. B. Riley raised their target price on Gentex from $28.00 to $32.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. JPMorgan Chase & Co. raised their target price on Gentex from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Monday. Robert W. Baird raised their target price on Gentex from $26.00 to $30.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $29.00 target price (up from $28.00) on shares of Gentex in a research note on Monday, October 6th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Gentex presently has an average rating of "Hold" and an average price target of $29.14.

Gentex Trading Up 1.9%

NASDAQ GNTX opened at $26.94 on Wednesday. The stock has a market cap of $5.91 billion, a PE ratio of 15.22 and a beta of 0.84. Gentex Corporation has a twelve month low of $20.28 and a twelve month high of $31.48. The stock has a fifty day simple moving average of $27.71 and a 200-day simple moving average of $24.46.

Gentex (NASDAQ:GNTX - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The auto parts company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.08. The business had revenue of $657.86 million during the quarter, compared to analysts' expectations of $591.94 million. Gentex had a return on equity of 16.86% and a net margin of 16.82%.The company's revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.37 EPS. Gentex has set its FY 2025 guidance at EPS. Research analysts predict that Gentex Corporation will post 2.04 EPS for the current year.

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

Gentex Announces Dividend

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 issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Wednesday, October 8th. Gentex's dividend payout ratio (DPR) is 27.12%.

Gentex 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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