Quantbot Technologies LP Boosts Stake in Gentex Corporation $GNTX

Key Points

• Quantbot Technologies LP significantly increased its holdings in Gentex Corporation by 471.2%, owning approximately 419,646 shares valued at $9,778,000 as of the latest reporting period.
• Gentex reported a strong earnings performance with an EPS of $0.47 for the last quarter, exceeding analyst expectations and reflecting a 14.8% year-over-year revenue growth.
• The company announced a share repurchase plan allowing the buyback of up to 40 million shares, indicating confidence in the stock's valuation.

Quantbot Technologies LP lifted its holdings in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 471.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 419,646 shares of the auto parts company's stock after acquiring an additional 346,178 shares during the quarter. Quantbot Technologies LP owned approximately 0.19% of Gentex worth $9,778,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC boosted its stake 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 acquiring an additional 1,015 shares during the period. Brooklyn Investment Group boosted its stake in shares of Gentex by 305.7% during the 1st quarter. Brooklyn Investment Group now owns 1,217 shares of the auto parts company's stock worth $28,000 after acquiring an additional 917 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake 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 worth $28,000 after acquiring an additional 563 shares during the period. Harbor Investment Advisory LLC boosted its stake 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 purchasing an additional 1,093 shares during the period. Finally, UMB Bank n.a. boosted its stake 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 purchasing an additional 1,079 shares during the period. 86.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on GNTX shares. UBS Group boosted their price target on Gentex from $23.00 to $28.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. B. Riley upped their target price on Gentex from $28.00 to $32.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Industrial Alliance Securities set a $25.00 price target on Gentex in a report on Friday, July 11th. The Goldman Sachs Group reissued a "neutral" rating on shares of Gentex in a research note on Friday, July 11th. Finally, Robert W. Baird raised their target price on Gentex from $26.00 to $30.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $28.63.

Gentex Trading Up 2.7%

Shares of NASDAQ GNTX traded up $0.75 during mid-day trading on Friday, hitting $28.16. The company had a trading volume of 1,670,695 shares, compared to its average volume of 2,411,117. The company has a market capitalization of $6.18 billion, a price-to-earnings ratio of 15.91 and a beta of 0.82. Gentex Corporation has a 1 year low of $20.28 and a 1 year high of $31.75. The stock's 50-day moving average price is $24.49 and its 200-day moving average price is $23.47.

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. The company had revenue of $657.86 million during the quarter, compared to analysts' expectations of $591.94 million. Gentex had a return on equity of 16.86% and a net margin of 16.82%.The firm's quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.37 earnings per share. Gentex has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Gentex Corporation will post 2.04 earnings per share for the current year.

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 $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.7%. Gentex's dividend payout ratio (DPR) is presently 27.12%.

Gentex declared that its Board of Directors has authorized a stock buyback plan on Wednesday, July 16th that authorizes the company to repurchase 40,000,000 shares. This repurchase authorization authorizes the auto parts company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

About Gentex

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.