Gentex Corporation $GNTX Position Raised by Systematic Financial Management LP

Key Points

• Systematic Financial Management LP increased its holdings in Gentex Corporation to over $8.57 million, representing a 12.0% rise during the first quarter.
• Gentex Corporation reported a 14.8% year-over-year increase in quarterly revenue, totaling $657.86 million, and earnings of $0.47 per share, surpassing analyst estimates.
• The company is implementing a share repurchase plan for up to 40 million shares, signaling that its board may believe the stock is undervalued.

Systematic Financial Management LP raised its position in Gentex Corporation (NASDAQ:GNTX - Free Report) by 12.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 367,955 shares of the auto parts company's stock after acquiring an additional 39,468 shares during the quarter. Systematic Financial Management LP owned 0.16% of Gentex worth $8,573,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Larson Financial Group LLC grew its position in Gentex by 1,471.0% in the first quarter. Larson Financial Group LLC now owns 1,084 shares of the auto parts company's stock valued at $25,000 after acquiring an additional 1,015 shares in the last quarter. Brooklyn Investment Group grew its position in Gentex by 305.7% in the first 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. Whittier Trust Co. of Nevada Inc. grew its position in Gentex by 85.4% in the first 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. Harbor Investment Advisory LLC grew its position in Gentex by 208.2% in the first 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. grew its position in Gentex by 103.3% in the first 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.

Gentex Price Performance

GNTX traded down $0.28 during trading hours on Thursday, hitting $28.15. 1,442,075 shares of the stock were exchanged, compared to its average volume of 2,305,314. The stock has a 50-day simple moving average of $24.89 and a 200-day simple moving average of $23.53. Gentex Corporation has a 12 month low of $20.28 and a 12 month high of $31.72. The stock has a market cap of $6.18 billion, a price-to-earnings ratio of 15.90 and a beta of 0.82.

Gentex (NASDAQ:GNTX - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $657.86 million for the quarter, compared to analysts' expectations of $591.94 million. During the same period last year, the business posted $0.37 earnings per share. The firm's revenue for the quarter was up 14.8% on a year-over-year basis. Gentex has set its FY 2025 guidance at EPS. Sell-side analysts expect that Gentex Corporation will post 2.04 EPS for the current year.

Gentex Dividend Announcement

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

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Gentex in a research report on Friday, July 11th. UBS Group increased their price objective on shares of Gentex from $23.00 to $28.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Zacks Research raised shares of Gentex from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th. B. Riley raised their price target on shares of Gentex from $28.00 to $32.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Finally, Robert W. Baird raised their price target on shares of Gentex from $26.00 to $30.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Gentex currently has a consensus rating of "Hold" and an average price target of $28.63.

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.