Advisory Alpha LLC Sells 616 Shares of Gentex Corporation $GNTX

Advisory Alpha LLC reduced its position in shares of Gentex Corporation (NASDAQ:GNTX) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,036 shares of the auto parts company’s stock after selling 616 shares during the period. Advisory Alpha LLC’s holdings in Gentex were worth $1,166,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC raised its stake in Gentex by 16.1% during the 1st quarter. GAMMA Investing LLC now owns 5,957 shares of the auto parts company’s stock valued at $139,000 after purchasing an additional 824 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Gentex by 42.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 50,056 shares of the auto parts company’s stock valued at $1,166,000 after purchasing an additional 15,025 shares during the last quarter. Cidel Asset Management Inc. raised its stake in Gentex by 26.5% during the 1st quarter. Cidel Asset Management Inc. now owns 520,131 shares of the auto parts company’s stock valued at $12,119,000 after purchasing an additional 108,899 shares during the last quarter. Novem Group raised its stake in Gentex by 20.6% during the 1st quarter. Novem Group now owns 11,709 shares of the auto parts company’s stock valued at $273,000 after purchasing an additional 1,999 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Gentex by 7.6% during the 1st quarter. Teacher Retirement System of Texas now owns 225,180 shares of the auto parts company’s stock valued at $5,247,000 after purchasing an additional 15,938 shares during the last quarter. 86.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. UBS Group reiterated a “neutral” rating and set a $29.00 target price (up from $28.00) on shares of Gentex in a research note on Monday, October 6th. Zacks Research cut shares of Gentex from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. The Goldman Sachs Group set a $27.00 target price on shares of Gentex and gave the company a “neutral” rating in a research note on Monday. Industrial Alliance Securities set a $25.00 target price on shares of Gentex in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. upped their target price on shares of Gentex from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, October 20th. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $28.29.

Gentex Stock Performance

Shares of GNTX stock opened at $23.67 on Wednesday. Gentex Corporation has a 52-week low of $20.28 and a 52-week high of $31.47. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of 13.92 and a beta of 0.84. The firm has a fifty day moving average of $27.42 and a 200-day moving average of $24.60.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, October 24th. The auto parts company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). Gentex had a net margin of 15.61% and a return on equity of 15.86%. The business had revenue of $655.24 million during the quarter, compared to analyst estimates of $661.10 million. During the same quarter in the prior year, the company posted $0.53 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 8th were paid a $0.12 dividend. The ex-dividend date was Wednesday, October 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.0%. Gentex’s dividend payout ratio is currently 28.24%.

Gentex announced that its Board of Directors has initiated a share repurchase program on Wednesday, July 16th that permits the company to buyback 40,000,000 shares. This buyback authorization permits the auto parts company to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

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.