JLB & Associates Inc. Decreases Stake in Gentex Corporation $GNTX

Key Points

• JLB & Associates Inc. has decreased its stake in Gentex Corporation by 47%, now holding 10,680 shares valued at approximately $235,000.
• Research firms have recently adjusted their ratings on Gentex, with UBS raising its price target from $23 to $28 and Zacks downgrading it from "strong-buy" to "hold."
• Gentex has announced a quarterly dividend of $0.12 per share to be paid on October 22, yielding 1.7%, and has initiated a share repurchase plan authorizing buybacks of up to 40 million shares.

JLB & Associates Inc. lowered its position in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 47.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,680 shares of the auto parts company's stock after selling 9,475 shares during the quarter. JLB & Associates Inc.'s holdings in Gentex were worth $235,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its position in shares of Gentex by 4.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 11,875 shares of the auto parts company's stock valued at $277,000 after acquiring an additional 521 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Gentex by 85.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,222 shares of the auto parts company's stock valued at $28,000 after purchasing an additional 563 shares during the last quarter. State of Michigan Retirement System increased its position in shares of Gentex by 1.1% during the 1st quarter. State of Michigan Retirement System now owns 54,440 shares of the auto parts company's stock valued at $1,268,000 after purchasing an additional 600 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Gentex by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 63,700 shares of the auto parts company's stock worth $1,484,000 after purchasing an additional 600 shares during the period. Finally, Values First Advisors Inc. boosted its holdings in shares of Gentex by 1.3% in the 1st quarter. Values First Advisors Inc. now owns 51,873 shares of the auto parts company's stock worth $1,209,000 after buying an additional 676 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GNTX. UBS Group raised their price objective on shares of Gentex from $23.00 to $28.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Wall Street Zen raised shares of Gentex from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. The Goldman Sachs Group set a $32.00 price target on shares of Gentex in a research note on Monday. 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 report on Monday, July 28th. Finally, Zacks Research downgraded Gentex from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 19th. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $29.75.

Gentex Price Performance

Shares of GNTX stock opened at $28.35 on Tuesday. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 16.02 and a beta of 0.85. The company's fifty day simple moving average is $27.56 and its two-hundred day simple moving average is $24.13. Gentex Corporation has a 1 year low of $20.28 and a 1 year high of $31.48.

Gentex (NASDAQ:GNTX - Get Free Report) last announced 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. Gentex had a return on equity of 16.86% and a net margin of 16.82%.The company had revenue of $657.86 million during 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 firm's quarterly revenue was up 14.8% compared to the same quarter last year. Gentex has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Gentex Corporation will post 2.04 EPS for the current year.

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

Gentex Announces Dividend

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

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.

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