Valley National Advisers Inc. Decreases Stock Position in Gentex Corporation $GNTX

Valley National Advisers Inc. cut its position in Gentex Corporation (NASDAQ:GNTX) by 50.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,575 shares of the auto parts company’s stock after selling 1,631 shares during the period. Valley National Advisers Inc.’s holdings in Gentex were worth $33,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in GNTX. Northwestern Mutual Wealth Management Co. raised its stake in Gentex by 4.6% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 11,875 shares of the auto parts company’s stock valued at $277,000 after acquiring an additional 521 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position 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 purchasing an additional 563 shares during the period. State of Michigan Retirement System increased its stake in shares of Gentex by 1.1% in the first quarter. State of Michigan Retirement System now owns 54,440 shares of the auto parts company’s stock worth $1,268,000 after purchasing an additional 600 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Gentex by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 63,700 shares of the auto parts company’s stock valued at $1,484,000 after purchasing an additional 600 shares during the period. Finally, Values First Advisors Inc. lifted its stake in shares of Gentex by 1.3% during the 1st quarter. Values First Advisors Inc. now owns 51,873 shares of the auto parts company’s stock valued at $1,209,000 after buying an additional 676 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GNTX shares. B. Riley lifted their price objective on shares of Gentex from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Robert W. Baird raised their price target on Gentex from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, July 28th. The Goldman Sachs Group set a $32.00 price objective on Gentex in a research note on Monday, September 29th. Zacks Research cut Gentex from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Finally, UBS Group reaffirmed a “neutral” rating and set a $29.00 target price (up previously from $28.00) on shares of Gentex in a report on Monday. Two investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Gentex currently has a consensus rating of “Hold” and an average price target of $29.88.

Gentex Stock Down 0.9%

Shares of NASDAQ GNTX opened at $27.32 on Tuesday. The stock’s 50-day simple moving average is $27.81 and its two-hundred day simple moving average is $24.26. Gentex Corporation has a twelve month low of $20.28 and a twelve month high of $31.48. The firm has a market capitalization of $6.00 billion, a P/E ratio of 15.44 and a beta of 0.84.

Gentex (NASDAQ:GNTX) last issued 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 during the quarter, compared to the consensus estimate of $591.94 million. Gentex had a return on equity of 16.86% and a net margin of 16.82%.The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the company posted $0.37 EPS. Gentex has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex announced that its board has initiated a share repurchase program on Wednesday, July 16th that authorizes the company to buyback 40,000,000 shares. This buyback authorization authorizes the auto parts company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders 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 1.8%. Gentex’s dividend payout ratio is presently 27.12%.

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.