Legal & General Group Plc Raises Stock Holdings in Gentex Corporation $GNTX

Legal & General Group Plc boosted its holdings in Gentex Corporation (NASDAQ:GNTX) by 4.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 500,905 shares of the auto parts company’s stock after purchasing an additional 22,552 shares during the quarter. Legal & General Group Plc owned about 0.22% of Gentex worth $11,015,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its holdings in Gentex by 4.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 11,875 shares of the auto parts company’s stock worth $277,000 after acquiring an additional 521 shares during the period. Nisa Investment Advisors LLC increased its holdings in Gentex by 0.4% in the second quarter. Nisa Investment Advisors LLC now owns 139,315 shares of the auto parts company’s stock valued at $3,064,000 after buying an additional 614 shares in the last quarter. UMB Bank n.a. increased its stake in Gentex by 34.4% in the 2nd quarter. UMB Bank n.a. now owns 2,854 shares of the auto parts company’s stock valued at $63,000 after purchasing an additional 730 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Gentex by 12.8% during the 2nd quarter. GAMMA Investing LLC now owns 6,721 shares of the auto parts company’s stock worth $148,000 after buying an additional 764 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Gentex by 17.0% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,744 shares of the auto parts company’s stock valued at $126,000 after purchasing an additional 836 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Stock Performance

Shares of GNTX opened at $22.83 on Monday. Gentex Corporation has a one year low of $20.28 and a one year high of $31.25. The stock’s fifty day moving average is $24.99 and its 200-day moving average is $24.81. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of 13.43 and a beta of 0.86.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, October 24th. The auto parts company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). Gentex had a net margin of 15.61% and a return on equity of 15.86%. The firm had revenue of $570.32 million for the quarter, compared to the consensus estimate of $661.10 million. During the same period in the previous year, the business posted $0.53 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. Gentex has set its FY 2025 guidance at EPS. Analysts forecast that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Wednesday, January 7th will be given a $0.12 dividend. The ex-dividend date is Wednesday, January 7th. This represents a $0.48 annualized dividend and a yield of 2.1%. Gentex’s payout ratio is 28.24%.

Analysts Set New Price Targets

A number of research firms have recently commented on GNTX. Zacks Research downgraded shares of Gentex from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. UBS Group reiterated a “neutral” rating and set a $29.00 target price (up from $28.00) on shares of Gentex in a research note on Monday, October 6th. The Goldman Sachs Group set a $27.00 price objective on shares of Gentex and gave the company a “neutral” rating in a research note on Monday, October 27th. JPMorgan Chase & Co. raised their price objective on Gentex from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Gentex in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $28.29.

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.