Swiss National Bank Decreases Holdings in Gentex Corporation $GNTX

Key Points

• The Swiss National Bank reduced its stake in Gentex Corporation by 2.7%, now owning 440,700 shares worth approximately $10 million.
• Gentex reported a quarterly EPS of $0.47, exceeding expectations, with revenues increasing by 14.8% year-over-year to $657.86 million.
• The company announced a share buyback plan allowing for the repurchase of up to 40 million shares, signaling confidence in the stock's valuation.

Swiss National Bank trimmed its holdings in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 2.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 440,700 shares of the auto parts company's stock after selling 12,100 shares during the period. Swiss National Bank owned approximately 0.20% of Gentex worth $10,268,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Headlands Technologies LLC boosted its holdings in shares of Gentex by 316.6% during the 1st quarter. Headlands Technologies LLC now owns 47,821 shares of the auto parts company's stock worth $1,114,000 after buying an additional 36,341 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Gentex by 4.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,622,237 shares of the auto parts company's stock worth $37,798,000 after purchasing an additional 62,137 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Gentex by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 22,581,938 shares of the auto parts company's stock worth $526,159,000 after purchasing an additional 886,785 shares in the last quarter. West Michigan Advisors LLC lifted its holdings in shares of Gentex by 18.1% in the 1st quarter. West Michigan Advisors LLC now owns 1,793,348 shares of the auto parts company's stock worth $41,785,000 after purchasing an additional 274,425 shares in the last quarter. Finally, Scotia Capital Inc. lifted its holdings in shares of Gentex by 10.7% in the 1st quarter. Scotia Capital Inc. now owns 139,844 shares of the auto parts company's stock worth $3,258,000 after purchasing an additional 13,519 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GNTX has been the topic of a number of recent research reports. Industrial Alliance Securities set a $25.00 target price on Gentex in a report on Friday, July 11th. B. Riley increased their target price on Gentex from $28.00 to $32.00 and gave the stock a "buy" rating in a report on Monday, July 28th. The Goldman Sachs Group reiterated a "neutral" rating on shares of Gentex in a report on Friday, July 11th. Robert W. Baird increased their target price on Gentex from $26.00 to $30.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Finally, UBS Group increased their target price on Gentex from $23.00 to $28.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $28.63.

Gentex Stock Up 0.1%

NASDAQ GNTX traded up $0.04 on Thursday, reaching $27.41. The company had a trading volume of 1,806,681 shares, compared to its average volume of 2,515,052. The stock has a market capitalization of $6.02 billion, a P/E ratio of 15.49 and a beta of 0.82. The company's fifty day moving average is $24.36 and its 200 day moving average is $23.45. Gentex Corporation has a 52-week low of $20.28 and a 52-week high of $31.75.

Gentex (NASDAQ:GNTX - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $657.86 million during the quarter, compared to analyst estimates of $591.94 million. Gentex had a return on equity of 16.86% and a net margin of 16.82%.Gentex's quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 EPS. Gentex has set its FY 2025 guidance at EPS. On average, research analysts expect that Gentex Corporation will post 2.04 EPS for the current year.

Gentex announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, July 16th that allows the company to buyback 40,000,000 shares. This buyback authorization allows the auto parts company to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its stock is undervalued.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.8%. Gentex's dividend payout ratio (DPR) is currently 27.12%.

Gentex Company 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.