Gentex Corporation $GNTX Shares Sold by Inspire Investing LLC

Key Points

• Inspire Investing LLC reduced its stake in Gentex Corporation by 49.6%, selling 27,630 shares, and now holds 28,025 shares worth approximately $653,000.
• Gentex reported earnings of $0.47 per share for the latest quarter, exceeding estimates, with revenues of $657.86 million, up 14.8% year-over-year.
• The company announced a quarterly dividend of $0.12 per share and authorized a stock buyback plan for up to 40 million shares, indicating a belief that its shares are undervalued.

Inspire Investing LLC lessened its stake in Gentex Corporation (NASDAQ:GNTX - Free Report) by 49.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,025 shares of the auto parts company's stock after selling 27,630 shares during the quarter. Inspire Investing LLC's holdings in Gentex were worth $653,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC raised its stake 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 acquiring an additional 1,015 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in shares of 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 valued at $28,000 after acquiring an additional 563 shares during the period. Brooklyn Investment Group boosted its holdings 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 buying an additional 917 shares in the last quarter. Harbor Investment Advisory LLC boosted its holdings 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 buying an additional 1,093 shares in the last quarter. Finally, State of Wyoming bought a new stake in Gentex during the first quarter worth approximately $45,000. Institutional investors and hedge funds own 86.76% of the company's stock.

Gentex Stock Performance

Shares of NASDAQ GNTX opened at $28.46 on Friday. The stock has a market cap of $6.25 billion, a P/E ratio of 16.08 and a beta of 0.85. The firm has a 50 day moving average price of $26.34 and a 200 day moving average price of $23.83. Gentex Corporation has a 52-week low of $20.28 and a 52-week high of $31.72.

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, beating the consensus estimate of $0.39 by $0.08. The company had revenue of $657.86 million during the quarter, compared to analysts' expectations of $591.94 million. Gentex had a net margin of 16.82% and a return on equity of 16.86%. The business's quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.37 earnings per share. Gentex has set its FY 2025 guidance at EPS. Analysts predict that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.

Gentex declared that its Board of Directors has authorized a stock buyback plan on Wednesday, July 16th that authorizes the company to repurchase 40,000,000 outstanding shares. This repurchase authorization authorizes the auto parts company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.

Gentex Dividend Announcement

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

Analysts Set New Price Targets

GNTX has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Gentex from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. B. Riley lifted their target price on shares of Gentex from $28.00 to $32.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Zacks Research upgraded shares of Gentex from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 20th. Robert W. Baird raised their price target on shares of Gentex from $26.00 to $30.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Finally, UBS Group lifted their target price on shares of Gentex from $23.00 to $28.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. One investment 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's stock. According to MarketBeat, Gentex has an average rating of "Hold" and an average price target of $28.63.

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.

Want to see what other hedge funds are holding GNTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gentex Corporation (NASDAQ:GNTX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.