Goelzer Investment Management Inc. Sells 5,829 Shares of Gentex Corporation $GNTX

Goelzer Investment Management Inc. cut its stake in Gentex Corporation (NASDAQ:GNTX) by 2.2% in the 2nd quarter, Holdings Channel reports. The firm owned 264,764 shares of the auto parts company’s stock after selling 5,829 shares during the period. Goelzer Investment Management Inc.’s holdings in Gentex were worth $5,822,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Parallel Advisors LLC raised its holdings in Gentex by 127.8% in the 2nd quarter. Parallel Advisors LLC now owns 20,065 shares of the auto parts company’s stock worth $441,000 after purchasing an additional 11,258 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Gentex by 17.0% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,744 shares of the auto parts company’s stock worth $126,000 after acquiring an additional 836 shares in the last quarter. Rowlandmiller & PARTNERS.ADV increased its stake in shares of Gentex by 4.3% in the 2nd quarter. Rowlandmiller & PARTNERS.ADV now owns 36,338 shares of the auto parts company’s stock worth $799,000 after acquiring an additional 1,501 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of Gentex by 16.0% in the 1st quarter. Voya Investment Management LLC now owns 273,035 shares of the auto parts company’s stock worth $6,362,000 after acquiring an additional 37,594 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in shares of Gentex by 23,142.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 26,496 shares of the auto parts company’s stock worth $617,000 after acquiring an additional 26,382 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors.

Gentex Stock Up 0.9%

Shares of NASDAQ GNTX opened at $28.51 on Wednesday. The firm’s 50-day moving average price is $26.56 and its 200-day moving average price is $23.89. The company has a market cap of $6.26 billion, a PE ratio of 16.11 and a beta of 0.85. Gentex Corporation has a 52-week low of $20.28 and a 52-week high of $31.72.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, July 25th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.08. The firm had revenue of $657.86 million for the quarter, compared to the consensus estimate of $591.94 million. Gentex had a net margin of 16.82% and a return on equity of 16.86%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 EPS. Gentex has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Gentex Corporation will post 2.04 EPS for the current fiscal year.

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 of this dividend is Wednesday, October 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.7%. Gentex’s dividend payout ratio (DPR) is presently 27.12%.

Gentex declared that its board has initiated a share repurchase program on Wednesday, July 16th that allows the company to repurchase 40,000,000 outstanding shares. This repurchase authorization allows the auto parts company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GNTX. UBS Group increased their price target on shares of Gentex from $23.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. Wall Street Zen upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Robert W. Baird increased their price target on shares of Gentex from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. Industrial Alliance Securities set a $25.00 price target on shares of Gentex in a research note on Friday, July 11th. Finally, The Goldman Sachs Group reiterated a “neutral” rating on shares of Gentex in a research note on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.63.

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.