Y Intercept Hong Kong Ltd Raises Position in Gentex Corporation $GNTX

Y Intercept Hong Kong Ltd grew its position in Gentex Corporation (NASDAQ:GNTX) by 256.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 213,375 shares of the auto parts company’s stock after acquiring an additional 153,575 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Gentex were worth $4,692,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GNTX. Larson Financial Group LLC lifted 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 valued at $25,000 after purchasing an additional 1,015 shares during the period. Whittier Trust Co. of Nevada Inc. lifted 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 valued at $28,000 after purchasing an additional 563 shares during the period. Brooklyn Investment Group lifted its stake in shares of Gentex by 305.7% in the first quarter. Brooklyn Investment Group now owns 1,217 shares of the auto parts company’s stock valued at $28,000 after purchasing an additional 917 shares during the period. State of Wyoming acquired a new stake in shares of Gentex in the first quarter valued at about $45,000. Finally, Steph & Co. acquired a new stake in shares of Gentex in the second quarter valued at about $45,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Wall Street Analysts Forecast Growth

GNTX has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Gentex from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, October 20th. 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 set a $29.00 price objective on shares of Gentex in a research note on Monday. Weiss Ratings reiterated a “hold (c)” rating on shares of Gentex in a research note on Wednesday, October 8th. Finally, Industrial Alliance Securities set a $25.00 target price on shares of Gentex in a research report on Friday, July 11th. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $28.29.

Gentex Price Performance

Shares of NASDAQ GNTX opened at $23.67 on Wednesday. The company has a market cap of $5.20 billion, a PE ratio of 13.92 and a beta of 0.84. Gentex Corporation has a 12 month low of $20.28 and a 12 month high of $31.47. The company has a 50-day simple moving average of $27.42 and a 200-day simple moving average of $24.60.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, October 24th. The auto parts company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The firm had revenue of $655.24 million for the quarter, compared to analysts’ expectations of $661.10 million. Gentex had a return on equity of 15.86% and a net margin of 15.61%.The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 earnings per share. Gentex has set its FY 2025 guidance at EPS. On average, analysts anticipate that Gentex Corporation will post 2.04 EPS for the current year.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 8th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, October 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.0%. Gentex’s payout ratio is 28.24%.

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

About Gentex

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.