Leeward Investments LLC MA Cuts Stake in Gentex Corporation $GNTX

Leeward Investments LLC MA trimmed its holdings in shares of Gentex Corporation (NASDAQ:GNTX) by 3.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 634,630 shares of the auto parts company’s stock after selling 23,662 shares during the quarter. Leeward Investments LLC MA owned 0.28% of Gentex worth $13,956,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of GNTX. Larson Financial Group LLC increased its position in shares of Gentex by 1,471.0% during 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. increased its position in shares of Gentex by 85.4% during 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 increased its position in shares of Gentex by 305.7% during 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. State of Wyoming purchased a new stake in shares of Gentex during the first quarter worth about $45,000. Finally, Steph & Co. purchased a new stake in shares of Gentex during the second quarter worth about $45,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Industrial Alliance Securities set a $25.00 target price on Gentex in a research report on Friday, July 11th. The Goldman Sachs Group set a $32.00 price target on Gentex in a research note on Monday, September 29th. UBS Group reiterated a “neutral” rating and issued a $29.00 price target (up from $28.00) on shares of Gentex in a research note on Monday, October 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Gentex in a research note on Saturday. Finally, Wall Street Zen upgraded Gentex from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Gentex currently has an average rating of “Hold” and a consensus price target of $29.14.

Gentex Stock Down 10.2%

Shares of GNTX stock opened at $23.64 on Friday. The business has a 50 day moving average of $27.57 and a two-hundred day moving average of $24.55. Gentex Corporation has a 52 week low of $20.28 and a 52 week high of $31.48. The company has a market cap of $5.19 billion, a P/E ratio of 13.91 and a beta of 0.84.

Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, October 24th. The auto parts company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). Gentex had a net margin of 16.82% and a return on equity of 16.86%. The company had revenue of $655.24 million during the quarter, compared to analyst estimates of $661.10 million. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. Gentex has set its FY 2025 guidance at EPS. Analysts expect that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 8th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, October 8th. Gentex’s payout ratio is 27.12%.

Gentex announced that its board has authorized a share buyback plan on Wednesday, July 16th that allows the company to buyback 40,000,000 outstanding shares. This buyback authorization allows the auto parts company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management 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.