Haverford Trust Co cut its position in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 94.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,509 shares of the auto parts company's stock after selling 260,388 shares during the period. Haverford Trust Co's holdings in Gentex were worth $361,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted 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 valued at $25,000 after buying an additional 1,015 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in 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 buying an additional 563 shares during the last quarter. Brooklyn Investment Group boosted its stake in Gentex by 305.7% during the first quarter. Brooklyn Investment Group now owns 1,217 shares of the auto parts company's stock valued at $28,000 after buying an additional 917 shares during the last quarter. Harbor Investment Advisory LLC boosted its stake 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 valued at $38,000 after buying an additional 1,093 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in Gentex by 103.3% during the first quarter. UMB Bank n.a. now owns 2,124 shares of the auto parts company's stock valued at $49,000 after buying an additional 1,079 shares during the last quarter. 86.76% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the company. Industrial Alliance Securities set a $25.00 price target on Gentex in a research note on Friday, July 11th. B. Riley raised their price objective on Gentex from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Wall Street Zen raised Gentex from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Gentex in a research note on Friday, July 11th. Finally, UBS Group raised their price objective on Gentex from $23.00 to $28.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. 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 company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $28.63.
View Our Latest Research Report on GNTX
Gentex Stock Performance
Shares of NASDAQ GNTX opened at $28.16 on Monday. The business's 50 day moving average price is $24.49 and its 200-day moving average price is $23.45. Gentex Corporation has a fifty-two week low of $20.28 and a fifty-two week high of $31.75. The company has a market cap of $6.18 billion, a price-to-earnings ratio of 15.91 and a beta of 0.82.
Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The auto parts company reported $0.47 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $591.94 million. During the same period in the prior year, the business posted $0.37 earnings per share. The company's revenue for the quarter was up 14.8% on a year-over-year basis. Gentex has set its FY 2025 guidance at EPS. Sell-side analysts predict that Gentex Corporation will post 2.04 earnings per share for the current year.
Gentex Announces Dividend
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 $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.7%. Gentex's payout ratio is 27.12%.
Gentex declared that its board has approved a stock repurchase program on Wednesday, July 16th that permits the company to buyback 40,000,000 outstanding shares. This buyback authorization permits the auto parts company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued.
About Gentex
(
Free Report)
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.
Further Reading
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