Gentex Corporation $GNTX Shares Sold by Leith Wheeler Investment Counsel Ltd.

Key Points

• Leith Wheeler Investment Counsel Ltd. reduced its stake in Gentex Corporation by 91.1% in Q2, now holding 27,625 shares valued at approximately $607,000.
• In contrast, major investors like Vanguard Group and JPMorgan Chase increased their holdings in Gentex, with Vanguard lifting its position by 4.1% and owning over 22.5 million shares.
• Gentex Corporation reported better-than-expected quarterly earnings, with $0.47 EPS vs. the consensus estimate of $0.39, and revenue of $657.86 million, indicating a 14.8% year-over-year increase.

Leith Wheeler Investment Counsel Ltd. trimmed its stake in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 91.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,625 shares of the auto parts company's stock after selling 281,382 shares during the quarter. Leith Wheeler Investment Counsel Ltd.'s holdings in Gentex were worth $607,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Gentex by 4.1% during 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 during the period. Burgundy Asset Management Ltd. lifted its position in Gentex by 40.1% during 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 period. JPMorgan Chase & Co. lifted its position in Gentex by 46.2% during 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 period. Ariel Investments LLC lifted its holdings in shares of Gentex by 10.7% in 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 during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Gentex by 3.6% in the 1st 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 period. 86.76% of the stock is owned by institutional investors and hedge funds.

Gentex Price Performance

NASDAQ GNTX opened at $25.63 on Monday. Gentex Corporation has a 1-year low of $20.28 and a 1-year high of $31.48. The company has a market capitalization of $5.63 billion, a P/E ratio of 14.48 and a beta of 0.84. The business has a 50 day moving average price of $27.77 and a 200 day moving average price of $24.31.

Gentex (NASDAQ:GNTX - Get Free Report) last released its quarterly earnings data 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. Gentex had a return on equity of 16.86% and a net margin of 16.82%.The firm had revenue of $657.86 million during the quarter, compared to the consensus estimate of $591.94 million. During the same period last year, the business posted $0.37 EPS. Gentex's quarterly revenue was up 14.8% on a year-over-year basis. Gentex has set its FY 2025 guidance at EPS. On average, research analysts expect that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

The business 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. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a $0.48 annualized dividend and a yield of 1.9%. Gentex's dividend payout ratio (DPR) is presently 27.12%.

Gentex declared that its board has authorized a stock repurchase program on Wednesday, July 16th that authorizes the company to buyback 40,000,000 shares. This buyback authorization authorizes the auto parts company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GNTX. The Goldman Sachs Group set a $32.00 price target on Gentex in a report on Monday, September 29th. Zacks Research cut Gentex from a "strong-buy" rating to a "hold" rating in a report on Friday, September 19th. B. Riley raised their price target on Gentex from $28.00 to $32.00 and gave the company a "buy" rating in a report on Monday, July 28th. Weiss Ratings reissued a "hold (c)" rating on shares of Gentex in a report on Wednesday, October 8th. Finally, Industrial Alliance Securities set a $25.00 price target on Gentex in a report on Friday, July 11th. Two research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $29.88.

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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