Van Lanschot Kempen Investment Management N.V. Sells 873,595 Shares of Gentex Corporation $GNTX

Key Points

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Van Lanschot Kempen Investment Management N.V. trimmed its holdings in Gentex Corporation (NASDAQ:GNTX - Free Report) by 36.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,497,747 shares of the auto parts company's stock after selling 873,595 shares during the quarter. Van Lanschot Kempen Investment Management N.V. owned about 0.67% of Gentex worth $34,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of GNTX. Fuller & Thaler Asset Management Inc. increased its stake in shares of Gentex by 487.7% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,447,651 shares of the auto parts company's stock worth $80,330,000 after acquiring an additional 2,860,969 shares in the last quarter. American Century Companies Inc. grew its position in Gentex by 148.5% during the 1st quarter. American Century Companies Inc. now owns 4,119,232 shares of the auto parts company's stock valued at $95,978,000 after purchasing an additional 2,461,835 shares during the last quarter. JPMorgan Chase & Co. grew its position in Gentex by 46.2% during the 1st quarter. JPMorgan Chase & Co. now owns 7,673,701 shares of the auto parts company's stock valued at $178,797,000 after purchasing an additional 2,424,471 shares during the last quarter. Burgundy Asset Management Ltd. grew its position in Gentex by 40.1% during the 1st quarter. Burgundy Asset Management Ltd. now owns 7,728,209 shares of the auto parts company's stock valued at $180,067,000 after purchasing an additional 2,211,392 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Gentex by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 22,581,938 shares of the auto parts company's stock valued at $526,159,000 after purchasing an additional 886,785 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Zacks Research raised shares of Gentex from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. B. Riley increased their price objective on shares of Gentex from $28.00 to $32.00 and gave the company a "buy" rating in a research report on Monday, July 28th. The Goldman Sachs Group reissued a "neutral" rating on shares of Gentex in a research report on Friday, July 11th. Industrial Alliance Securities set a $25.00 price objective on shares of Gentex in a research report on Friday, July 11th. Finally, Robert W. Baird raised their price target on shares of Gentex from $26.00 to $30.00 and gave the company a "neutral" rating in a 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 given a Hold rating to the stock. According to data from MarketBeat.com, Gentex currently has a consensus rating of "Hold" and a consensus target price of $28.63.

Gentex Price Performance

Shares of GNTX traded up $0.75 on Friday, reaching $28.16. The company's stock had a trading volume of 1,670,695 shares, compared to its average volume of 2,411,117. The stock has a market capitalization of $6.18 billion, a P/E ratio of 15.91 and a beta of 0.82. The stock's 50 day simple moving average is $24.49 and its two-hundred day simple moving average is $23.47. Gentex Corporation has a 12-month low of $20.28 and a 12-month high of $31.75.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.08. The company had revenue of $657.86 million for the quarter, compared to the consensus estimate of $591.94 million. Gentex had a net margin of 16.82% and a return on equity of 16.86%. The firm's revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 earnings per share. Gentex has set its FY 2025 guidance at EPS. Analysts expect that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex announced that its board has approved a share repurchase program on Wednesday, July 16th that permits the company to buyback 40,000,000 outstanding shares. This buyback authorization permits the auto parts company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.

Gentex Announces Dividend

The company 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 dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.7%. Gentex's payout ratio is 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.