Voya Investment Management LLC Has $6.36 Million Holdings in Gentex Corporation $GNTX

Key Points

• Voya Investment Management LLC increased its stake in Gentex Corporation by 16% during the first quarter, owning approximately 0.12% of the company, valued at about $6.36 million.
• Gentex reported a quarterly earnings per share (EPS) of $0.47, surpassing analyst expectations of $0.39 and demonstrating a 14.8% revenue growth year-over-year.
• The company declared a quarterly dividend of $0.12 per share with a dividend yield of 1.7%, and initiated a stock repurchase program authorizing the buyback of 40 million shares.

Voya Investment Management LLC grew its position in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 16.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 273,035 shares of the auto parts company's stock after purchasing an additional 37,594 shares during the period. Voya Investment Management LLC owned approximately 0.12% of Gentex worth $6,362,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Gentex by 4.1% during the first quarter. Vanguard Group Inc. now owns 22,581,938 shares of the auto parts company's stock valued at $526,159,000 after purchasing an additional 886,785 shares during the period. Burgundy Asset Management Ltd. increased its stake in shares of Gentex by 40.1% in the first quarter. Burgundy Asset Management Ltd. now owns 7,728,209 shares of the auto parts company's stock worth $180,067,000 after buying an additional 2,211,392 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Gentex by 46.2% in the first quarter. JPMorgan Chase & Co. now owns 7,673,701 shares of the auto parts company's stock worth $178,797,000 after buying an additional 2,424,471 shares during the last quarter. Ariel Investments LLC increased its stake in shares of Gentex by 10.7% in the first quarter. Ariel Investments LLC now owns 7,082,055 shares of the auto parts company's stock worth $165,012,000 after buying an additional 687,329 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Gentex by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,655,948 shares of the auto parts company's stock worth $108,482,000 after buying an additional 160,432 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company's stock.

Gentex Price Performance

Shares of NASDAQ GNTX traded down $0.38 during midday trading on Friday, reaching $28.67. 5,589,691 shares of the company traded hands, compared to its average volume of 1,759,385. Gentex Corporation has a 52 week low of $20.28 and a 52 week high of $31.72. The stock has a 50-day moving average price of $26.91 and a 200 day moving average price of $23.99. The company has a market cap of $6.29 billion, a price-to-earnings ratio of 16.20 and a beta of 0.85.

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

Gentex announced that its Board of Directors has approved a stock repurchase program on Wednesday, July 16th that allows the company to repurchase 40,000,000 outstanding shares. This repurchase authorization allows the auto parts company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Gentex Announces Dividend

The firm 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 $0.12 dividend. The ex-dividend date is Wednesday, October 8th. This represents a $0.48 annualized dividend and a yield of 1.7%. Gentex's payout ratio is 27.12%.

Analyst Ratings Changes

A number of analysts recently issued reports on GNTX shares. Robert W. Baird lifted their price target 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. Wall Street Zen upgraded shares of Gentex from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. UBS Group lifted their price target on shares of Gentex from $23.00 to $28.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. B. Riley lifted their price target 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. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Gentex in a report on Friday, July 11th. One equities research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $28.63.

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.