Gentex Corporation $GNTX Shares Sold by Van Lanschot Kempen Investment Management N.V.

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% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,497,747 shares of the auto parts company's stock after selling 873,595 shares during the period. Van Lanschot Kempen Investment Management N.V. owned about 0.67% of Gentex worth $34,898,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Hsbc Holdings PLC acquired a new position in shares of Gentex in the 1st quarter valued at approximately $700,000. Fuller & Thaler Asset Management Inc. raised its position 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 valued at $80,330,000 after purchasing an additional 2,860,969 shares in the last quarter. Quantbot Technologies LP raised its position in shares of Gentex by 471.2% in the 1st quarter. Quantbot Technologies LP now owns 419,646 shares of the auto parts company's stock valued at $9,778,000 after purchasing an additional 346,178 shares in the last quarter. QSV Equity Investors LLC raised its position in shares of Gentex by 23.6% in the 1st quarter. QSV Equity Investors LLC now owns 10,847 shares of the auto parts company's stock valued at $253,000 after purchasing an additional 2,072 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Gentex by 1.2% in the 1st quarter. Northern Trust Corp now owns 2,263,118 shares of the auto parts company's stock valued at $52,731,000 after purchasing an additional 26,400 shares in the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Gentex Price Performance

Shares of GNTX stock traded up $0.75 on Friday, hitting $28.16. 1,670,695 shares of the stock traded hands, compared to its average volume of 2,153,923. The company has a market capitalization of $6.18 billion, a PE 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 company's fifty day moving average is $24.49 and its 200 day moving average is $23.45.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.08. The business had revenue of $657.86 million for 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%.The business's revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.37 EPS. Gentex has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Gentex Corporation will post 2.04 EPS for the current year.

Gentex announced that its Board of Directors has authorized a stock buyback program 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. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Gentex Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GNTX. 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. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Gentex in a research report on Friday, July 11th. Wall Street Zen raised Gentex from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Robert W. Baird upped their price target on Gentex from $26.00 to $30.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Finally, Zacks Research raised Gentex from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $28.63.

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.