GHP Investment Advisors Inc. Sells 148,680 Shares of Gentex Corporation $GNTX

GHP Investment Advisors Inc. lowered its stake in shares of Gentex Corporation (NASDAQ:GNTX) by 99.0% in the second quarter, Holdings Channel.com reports. The firm owned 1,483 shares of the auto parts company’s stock after selling 148,680 shares during the period. GHP Investment Advisors Inc.’s holdings in Gentex were worth $33,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. AdvisorShares Investments LLC boosted its stake in Gentex by 21.5% during the 2nd quarter. AdvisorShares Investments LLC now owns 19,779 shares of the auto parts company’s stock valued at $435,000 after purchasing an additional 3,499 shares during the last quarter. Retirement Systems of Alabama boosted its stake in Gentex by 8.6% during the 2nd quarter. Retirement Systems of Alabama now owns 659,755 shares of the auto parts company’s stock valued at $14,508,000 after purchasing an additional 52,502 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in Gentex by 328.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 4,811 shares of the auto parts company’s stock valued at $106,000 after purchasing an additional 3,687 shares during the last quarter. Eubel Brady & Suttman Asset Management Inc. boosted its stake in Gentex by 31.6% during the 2nd quarter. Eubel Brady & Suttman Asset Management Inc. now owns 886,145 shares of the auto parts company’s stock valued at $19,486,000 after purchasing an additional 212,949 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in Gentex by 10.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 248,598 shares of the auto parts company’s stock valued at $5,467,000 after purchasing an additional 23,418 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Analyst Upgrades and Downgrades

GNTX has been the subject of a number of analyst reports. UBS Group reiterated a “neutral” rating and set a $29.00 price target (up previously from $28.00) on shares of Gentex in a research note on Monday, October 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Gentex in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price 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. B. Riley lifted their target price 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. Finally, Robert W. Baird set a $29.00 target price on shares of Gentex in a research report on Monday, October 27th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Gentex currently has a consensus rating of “Hold” and an average target price of $28.29.

Gentex Stock Down 0.7%

Shares of GNTX stock opened at $23.12 on Wednesday. The company has a 50 day moving average of $26.98 and a 200-day moving average of $24.70. Gentex Corporation has a 12-month low of $20.28 and a 12-month high of $31.41. The firm has a market cap of $5.07 billion, a P/E ratio of 13.60 and a beta of 0.84.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, October 24th. The auto parts company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). Gentex had a return on equity of 15.86% and a net margin of 15.61%.The company had revenue of $570.32 million for the quarter, compared to analysts’ expectations of $661.10 million. During the same quarter in the previous year, the business earned $0.53 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Gentex has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Gentex Corporation will post 2.04 EPS for the current year.

Gentex declared that its board has authorized a share repurchase plan on Wednesday, July 16th that allows the company to repurchase 40,000,000 shares. This repurchase authorization allows the auto parts company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Gentex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Wednesday, October 8th. Gentex’s payout ratio is currently 28.24%.

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.