North Point Portfolio Managers Corp OH Sells 6,327 Shares of Gentex Corporation $GNTX

North Point Portfolio Managers Corp OH decreased its position in shares of Gentex Corporation (NASDAQ:GNTX) by 1.8% in the 2nd quarter, Holdings Channel reports. The fund owned 342,645 shares of the auto parts company’s stock after selling 6,327 shares during the quarter. North Point Portfolio Managers Corp OH’s holdings in Gentex were worth $7,535,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Gentex by 4.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,622,237 shares of the auto parts company’s stock worth $37,798,000 after acquiring an additional 62,137 shares during the period. Principal Financial Group Inc. lifted its holdings in Gentex by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 523,489 shares of the auto parts company’s stock worth $12,197,000 after purchasing an additional 1,923 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in Gentex by 5.9% during the 1st quarter. Asset Management One Co. Ltd. now owns 219,454 shares of the auto parts company’s stock worth $5,113,000 after purchasing an additional 12,168 shares in the last quarter. Praxis Investment Management Inc. purchased a new stake in Gentex during the 1st quarter worth about $359,000. Finally, Speece Thorson Capital Group Inc. lifted its holdings in Gentex by 18.3% during the 1st quarter. Speece Thorson Capital Group Inc. now owns 682,684 shares of the auto parts company’s stock worth $15,907,000 after purchasing an additional 105,446 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GNTX. Weiss Ratings reissued a “hold (c)” rating on shares of Gentex in a report on Wednesday, October 8th. UBS Group reissued a “neutral” rating and set a $29.00 price objective (up previously from $28.00) on shares of Gentex in a report on Monday, October 6th. B. Riley increased their price objective on Gentex from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Industrial Alliance Securities set a $25.00 price objective on Gentex in a report on Friday, July 11th. Finally, The Goldman Sachs Group set a $32.00 price objective on Gentex in a report on Monday, September 29th. Two equities 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, Gentex currently has a consensus rating of “Hold” and an average target price of $29.14.

Gentex Stock Down 0.7%

NASDAQ:GNTX opened at $26.01 on Monday. The business’s 50-day moving average price is $27.72 and its two-hundred day moving average price is $24.41. Gentex Corporation has a twelve month low of $20.28 and a twelve month high of $31.48. The stock has a market cap of $5.71 billion, a P/E ratio of 14.69 and a beta of 0.84.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results 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. Gentex had a return on equity of 16.86% and a net margin of 16.82%.The firm had revenue of $657.86 million for the quarter, compared to analysts’ expectations of $591.94 million. During the same quarter last year, the firm posted $0.37 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. Gentex has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex announced that its board has authorized a stock repurchase plan on Wednesday, July 16th that allows the company to repurchase 40,000,000 outstanding shares. This repurchase authorization allows the auto parts company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Gentex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders 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 annualized dividend and a dividend yield of 1.8%. Gentex’s dividend payout ratio (DPR) is presently 27.12%.

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.