Gentex Corporation $GNTX Position Raised by AdvisorShares Investments LLC

AdvisorShares Investments LLC increased its position in shares of Gentex Corporation (NASDAQ:GNTX) by 21.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,779 shares of the auto parts company’s stock after purchasing an additional 3,499 shares during the period. AdvisorShares Investments LLC’s holdings in Gentex were worth $435,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in GNTX. Larson Financial Group LLC boosted its holdings in 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 buying an additional 1,015 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in 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 buying an additional 563 shares in the last quarter. Brooklyn Investment Group boosted its holdings in 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 buying an additional 917 shares in the last quarter. State of Wyoming bought a new stake in Gentex during the first quarter worth approximately $45,000. Finally, Steph & Co. bought a new stake in Gentex during the second quarter worth approximately $45,000. 86.76% of the stock is currently owned by institutional investors.

Gentex Stock Performance

NASDAQ GNTX opened at $23.56 on Friday. Gentex Corporation has a twelve month low of $20.28 and a twelve month high of $31.41. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 13.86 and a beta of 0.84. The firm’s 50 day moving average price is $27.27 and its two-hundred day moving average price is $24.61.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, October 24th. The auto parts company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). The firm had revenue of $655.24 million for the quarter, compared to analysts’ expectations of $661.10 million. Gentex had a return on equity of 15.86% and a net margin of 15.61%.The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 earnings per share. Gentex has set its FY 2025 guidance at EPS. On average, research analysts forecast that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex declared that its board has approved a stock repurchase plan on Wednesday, July 16th that authorizes the company to buyback 40,000,000 outstanding shares. This buyback authorization authorizes the auto parts company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Gentex Dividend Announcement

The business 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 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Wednesday, October 8th. Gentex’s payout ratio is currently 28.24%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GNTX shares. Industrial Alliance Securities set a $25.00 target price on shares of Gentex in a report on Friday, July 11th. The Goldman Sachs Group set a $27.00 target price on shares of Gentex and gave the stock a “neutral” rating in a report on Monday. UBS Group restated a “neutral” rating and set a $29.00 target price (up from $28.00) on shares of Gentex in a report on Monday, October 6th. JPMorgan Chase & Co. lifted their price objective on shares of Gentex from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. Finally, B. Riley lifted their price objective on shares of Gentex from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. Two 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.com, Gentex has a consensus rating of “Hold” and a consensus target price of $28.29.

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.