Walleye Capital LLC Has $3.14 Million Stock Holdings in Gentex Corporation $GNTX

Key Points

• Walleye Capital LLC increased its stake in Gentex Corporation by 842.7%, now owning 134,811 shares valued at approximately $3.14 million.
• Several analysts have upgraded their ratings on Gentex, with price targets ranging from $25.00 to $32.00, and an average consensus target price of $28.63.
• Gentex announced a quarterly dividend of $0.12 per share, scheduled for payment on October 22nd, with an annualized yield of 1.7%.

Walleye Capital LLC grew its position in Gentex Corporation (NASDAQ:GNTX - Free Report) by 842.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,811 shares of the auto parts company's stock after purchasing an additional 120,511 shares during the period. Walleye Capital LLC owned about 0.06% of Gentex worth $3,141,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC raised its holdings 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 valued at $25,000 after purchasing an additional 1,015 shares during the last quarter. Brooklyn Investment Group raised its holdings 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 valued at $28,000 after purchasing an additional 917 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings 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 valued at $28,000 after purchasing an additional 563 shares during the last quarter. Harbor Investment Advisory LLC raised its holdings 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 valued at $38,000 after purchasing an additional 1,093 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of 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 purchasing an additional 1,079 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wall Street Zen upgraded shares of Gentex from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Robert W. Baird raised their price objective on shares of Gentex from $26.00 to $30.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Industrial Alliance Securities set a $25.00 price objective on shares of Gentex in a report on Friday, July 11th. The Goldman Sachs Group restated a "neutral" rating on shares of Gentex in a report on Friday, July 11th. Finally, B. Riley raised their price objective on shares of Gentex from $28.00 to $32.00 and gave the stock a "buy" rating in a report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $28.63.

Gentex Trading Up 0.5%

Shares of Gentex stock opened at $28.43 on Thursday. Gentex Corporation has a 12-month low of $20.28 and a 12-month high of $31.72. The company has a market cap of $6.24 billion, a price-to-earnings ratio of 16.06 and a beta of 0.82. The company's 50-day moving average price is $24.89 and its 200-day moving average price is $23.53.

Gentex (NASDAQ:GNTX - Get Free Report) last announced its quarterly earnings results 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. Gentex had a net margin of 16.82% and a return on equity of 16.86%. The firm had revenue of $657.86 million for the quarter, compared to the consensus estimate of $591.94 million. During the same period in the prior year, the firm posted $0.37 earnings per share. The company's revenue for the quarter was up 14.8% on a year-over-year basis. Gentex has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex announced that its Board of Directors has initiated a share repurchase program on Wednesday, July 16th that permits the company to repurchase 40,000,000 outstanding shares. This repurchase authorization permits the auto parts company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders 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 dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, October 8th. Gentex's dividend payout ratio is presently 27.12%.

Gentex 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.