Gentex Corporation $GNTX Shares Bought by Invesco Ltd.

Key Points

• Invesco Ltd. has increased its stake in Gentex Corporation by 10.0%, owning 753,036 shares valued at approximately $17.55 million as of its latest SEC filing.
• Gentex reported a quarterly earnings per share of $0.47, exceeding analysts’ expectations, along with a revenue of $657.86 million, marking a 14.8% increase year-over-year.
• The company has initiated a share buyback plan authorizing the repurchase of up to 40 million shares, indicating confidence in the stock's value.

Invesco Ltd. lifted its stake in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 10.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 753,036 shares of the auto parts company's stock after purchasing an additional 68,642 shares during the period. Invesco Ltd. owned about 0.33% of Gentex worth $17,546,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Gentex by 4.1% in the first 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 last quarter. JPMorgan Chase & Co. lifted its holdings in 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 acquiring an additional 2,424,471 shares during the last quarter. Burgundy Asset Management Ltd. lifted its holdings in Gentex by 1.6% in the fourth quarter. Burgundy Asset Management Ltd. now owns 5,516,817 shares of the auto parts company's stock worth $158,498,000 after acquiring an additional 86,929 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Gentex by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,495,516 shares of the auto parts company's stock worth $129,156,000 after acquiring an additional 192,375 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Gentex by 29.9% in the fourth quarter. Northern Trust Corp now owns 2,236,718 shares of the auto parts company's stock worth $64,261,000 after acquiring an additional 514,920 shares during the last quarter. Institutional investors own 86.76% of the company's stock.

Gentex Price Performance

Shares of NASDAQ GNTX traded up $0.15 during mid-day trading on Wednesday, reaching $28.43. 3,559,408 shares of the company traded hands, compared to its average volume of 1,962,031. Gentex Corporation has a fifty-two week low of $20.28 and a fifty-two week high of $31.72. The firm has a market cap of $6.24 billion, a PE ratio of 16.06 and a beta of 0.82. The stock has a fifty day simple moving average of $24.89 and a 200-day simple moving average of $23.53.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The auto parts company reported $0.47 EPS 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 analyst estimates of $591.94 million. During the same quarter last year, the business earned $0.37 earnings per share. The business's revenue for the quarter was up 14.8% on a year-over-year basis. Gentex has set its FY 2025 guidance at EPS. As a group, analysts predict that Gentex Corporation will post 2.04 EPS for the current fiscal year.

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

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Wednesday, October 8th. Gentex's dividend payout ratio (DPR) is currently 27.12%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. UBS Group raised their target price on shares of Gentex from $23.00 to $28.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. B. Riley raised 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. Industrial Alliance Securities set a $25.00 price target on Gentex in a report on Friday, July 11th. Wall Street Zen raised Gentex from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Gentex in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Gentex currently has a consensus 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.