Gentex Corporation $GNTX Shares Bought by Taylor Hoffman Capital Management LLC

Key Points

• Taylor Hoffman Capital Management LLC increased its stake in Gentex Corporation by 9.6%, acquiring an additional 15,249 shares, bringing its total ownership to 173,926 shares valued at approximately $3.8 million.
• Gentex Corporation recently reported a quarterly earnings per share (EPS) of $0.47, exceeding analyst expectations of $0.39, and demonstrated a year-over-year revenue growth of 14.8% to $657.86 million.
• The company's Board of Directors announced a share buyback program authorizing the repurchase of up to 40 million outstanding shares, reflecting management's belief in the undervaluation of its stock.

Taylor Hoffman Capital Management LLC increased its stake in Gentex Corporation (NASDAQ:GNTX - Free Report) by 9.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 173,926 shares of the auto parts company's stock after acquiring an additional 15,249 shares during the period. Taylor Hoffman Capital Management LLC owned approximately 0.08% of Gentex worth $3,825,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Larson Financial Group LLC boosted its position in shares of 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 worth $25,000 after acquiring an additional 1,015 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of 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 worth $28,000 after acquiring an additional 563 shares during the last quarter. Brooklyn Investment Group boosted its position in shares of Gentex by 305.7% in the first 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 last quarter. Harbor Investment Advisory LLC boosted its position in shares of Gentex by 208.2% in the first quarter. Harbor Investment Advisory LLC now owns 1,618 shares of the auto parts company's stock worth $38,000 after acquiring an additional 1,093 shares during the last quarter. Finally, State of Wyoming purchased a new position in Gentex in the first quarter valued at approximately $45,000. 86.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Gentex Stock Down 1.3%

Shares of GNTX traded down $0.38 during mid-day trading on Friday, reaching $28.67. 5,589,691 shares of the stock traded hands, compared to its average volume of 2,282,354. Gentex Corporation has a 12-month low of $20.28 and a 12-month high of $31.72. The firm has a market cap of $6.29 billion, a price-to-earnings ratio of 16.20 and a beta of 0.85. The stock has a fifty day simple moving average of $26.91 and a 200 day simple moving average of $23.99.

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

Gentex Announces Dividend

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

Gentex declared that its board has approved a share repurchase program on Wednesday, July 16th that allows the company to repurchase 40,000,000 shares. This repurchase authorization allows the auto parts company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its stock is 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.