Gentex Corporation $GNTX Shares Sold by Well Done LLC

Well Done LLC lowered its stake in Gentex Corporation (NASDAQ:GNTX) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 393,009 shares of the auto parts company’s stock after selling 5,062 shares during the quarter. Gentex makes up 1.6% of Well Done LLC’s investment portfolio, making the stock its 10th largest holding. Well Done LLC owned about 0.17% of Gentex worth $8,642,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of GNTX. Vanguard Group Inc. increased its position in shares of Gentex by 4.1% in the first quarter. Vanguard Group Inc. now owns 22,581,938 shares of the auto parts company’s stock worth $526,159,000 after acquiring an additional 886,785 shares in the last quarter. Burgundy Asset Management Ltd. grew its position in Gentex by 40.1% during the 1st quarter. Burgundy Asset Management Ltd. now owns 7,728,209 shares of the auto parts company’s stock worth $180,067,000 after purchasing an additional 2,211,392 shares in the last quarter. JPMorgan Chase & Co. grew its position in Gentex by 46.2% during the 1st quarter. JPMorgan Chase & Co. now owns 7,673,701 shares of the auto parts company’s stock worth $178,797,000 after purchasing an additional 2,424,471 shares in the last quarter. Ariel Investments LLC raised its stake in Gentex by 10.7% during the 1st quarter. Ariel Investments LLC now owns 7,082,055 shares of the auto parts company’s stock valued at $165,012,000 after purchasing an additional 687,329 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Gentex by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,655,948 shares of the auto parts company’s stock valued at $108,482,000 after purchasing an additional 160,432 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Stock Performance

Shares of NASDAQ GNTX opened at $28.29 on Thursday. The business has a 50 day simple moving average of $27.23 and a 200 day simple moving average of $24.06. Gentex Corporation has a 52 week low of $20.28 and a 52 week high of $31.72. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of 15.98 and a beta of 0.85.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, July 25th. The auto parts company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.08. The firm had revenue of $657.86 million for the quarter, compared to analyst estimates of $591.94 million. Gentex had a net margin of 16.82% and a return on equity of 16.86%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.37 earnings per share. Gentex has set its FY 2025 guidance at EPS. On average, analysts predict that Gentex Corporation will post 2.04 EPS for the current year.

Gentex declared that its board has authorized a stock buyback 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 repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, October 8th. This represents a $0.48 dividend on an annualized basis and a yield of 1.7%. Gentex’s dividend payout ratio is currently 27.12%.

Analyst Ratings Changes

GNTX has been the topic of a number of research analyst reports. UBS Group lifted their price target on Gentex from $23.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, July 28th. Wall Street Zen raised Gentex from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Robert W. Baird upped their target price on Gentex from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, July 28th. B. Riley raised their price target on shares of Gentex from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Finally, Industrial Alliance Securities set a $25.00 price objective on shares of Gentex in a research note on Friday, July 11th. 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, the company has an average rating of “Hold” and a consensus target price of $28.63.

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.