Blue Trust Inc. Grows Stock Position in Gentex Corporation $GNTX

Blue Trust Inc. boosted its stake in Gentex Corporation (NASDAQ:GNTX) by 11.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 14,209 shares of the auto parts company’s stock after purchasing an additional 1,426 shares during the period. Blue Trust Inc.’s holdings in Gentex were worth $312,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Larson Financial Group LLC grew its stake in shares of Gentex by 1,471.0% in the first quarter. Larson Financial Group LLC now owns 1,084 shares of the auto parts company’s stock worth $25,000 after acquiring an additional 1,015 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Gentex by 85.4% in 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 acquiring an additional 563 shares in the last quarter. Brooklyn Investment Group lifted its position in shares of Gentex by 305.7% during the 1st quarter. Brooklyn Investment Group now owns 1,217 shares of the auto parts company’s stock worth $28,000 after purchasing an additional 917 shares during the last quarter. State of Wyoming purchased a new stake in shares of Gentex during the 1st quarter worth $45,000. Finally, Steph & Co. purchased a new stake in shares of Gentex during the 2nd quarter worth $45,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Stock Up 0.2%

Shares of Gentex stock opened at $25.96 on Wednesday. Gentex Corporation has a 52-week low of $20.28 and a 52-week high of $31.48. The company’s 50-day simple moving average is $27.75 and its 200-day simple moving average is $24.34. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of 14.67 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, topping analysts’ consensus estimates of $0.39 by $0.08. Gentex had a net margin of 16.82% and a return on equity of 16.86%. The business had revenue of $657.86 million for the quarter, compared to analyst estimates of $591.94 million. During the same period in the previous year, the business posted $0.37 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. Gentex has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Gentex Corporation will post 2.04 EPS for the current year.

Gentex declared that its Board of Directors has initiated a share repurchase program on Wednesday, July 16th that permits the company to buyback 40,000,000 outstanding shares. This buyback authorization permits the auto parts company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 8th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Wednesday, October 8th. Gentex’s payout ratio is 27.12%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GNTX shares. Zacks Research cut shares of Gentex from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Gentex in a research report on Wednesday, October 8th. UBS Group reissued a “neutral” rating and issued a $29.00 price target (up from $28.00) on shares of Gentex in a research report on Monday, October 6th. Robert W. Baird boosted their price target on shares of Gentex from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Finally, The Goldman Sachs Group set a $32.00 price target on shares of Gentex in a research report on Monday, September 29th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $29.14.

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.