Northern Trust Corp Has $52.73 Million Stake in Gentex Corporation $GNTX

Key Points

• Northern Trust Corp increased its stake in Gentex Corporation by 1.2%, purchasing an additional 26,400 shares, bringing its total ownership to approximately 1.01% valued at $52.73 million.
• Gentex Corporation reported a 14.8% increase in quarterly revenue year-over-year, achieving $657.86 million and an EPS of $0.47, surpassing analyst expectations.
• The company announced a quarterly dividend of $0.12 per share, representing a dividend yield of 1.7%, with a share repurchase plan approved to buy back 40 million shares.

Northern Trust Corp increased its holdings in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 1.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,263,118 shares of the auto parts company's stock after purchasing an additional 26,400 shares during the period. Northern Trust Corp owned approximately 1.01% of Gentex worth $52,731,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GNTX. Larson Financial Group LLC lifted its position in shares of Gentex by 1,471.0% during the 1st quarter. Larson Financial Group LLC now owns 1,084 shares of the auto parts company's stock worth $25,000 after purchasing an additional 1,015 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Gentex by 85.4% in 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 acquiring an additional 563 shares in the last quarter. Brooklyn Investment Group raised its holdings in Gentex by 305.7% in the 1st quarter. Brooklyn Investment Group now owns 1,217 shares of the auto parts company's stock valued at $28,000 after acquiring an additional 917 shares in the last quarter. Harbor Investment Advisory LLC raised its holdings in Gentex by 208.2% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,618 shares of the auto parts company's stock valued at $38,000 after acquiring an additional 1,093 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in Gentex by 103.3% in the 1st quarter. UMB Bank n.a. now owns 2,124 shares of the auto parts company's stock valued at $49,000 after acquiring an additional 1,079 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on GNTX shares. Wall Street Zen raised Gentex from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. UBS Group increased their price objective on Gentex from $23.00 to $28.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. B. Riley increased their price target on Gentex from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Robert W. Baird increased their price target on Gentex from $26.00 to $30.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Finally, Industrial Alliance Securities set a $25.00 price target on Gentex in a research note on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $28.63.

Gentex Price Performance

NASDAQ GNTX traded down $0.14 during trading on Friday, reaching $28.01. 1,973,745 shares of the company's stock were exchanged, compared to its average volume of 1,973,811. The business has a 50 day moving average price of $25.16 and a 200-day moving average price of $23.58. The stock has a market capitalization of $6.15 billion, a P/E ratio of 15.82 and a beta of 0.82. Gentex Corporation has a fifty-two week low of $20.28 and a fifty-two week high of $31.72.

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, topping analysts' consensus estimates of $0.39 by $0.08. The firm had revenue of $657.86 million for the quarter, compared to the consensus estimate of $591.94 million. Gentex had a return on equity of 16.86% and a net margin of 16.82%.The business's revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.37 earnings per share. Gentex has set its FY 2025 guidance at EPS. On average, analysts forecast that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex announced that its Board of Directors has initiated a share repurchase program on Wednesday, July 16th that permits the company to buyback 40,000,000 shares. This buyback authorization permits the auto parts company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Gentex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 8th will be issued 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 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.