State of Wyoming Purchases New Shares in Gentex Corporation $GNTX

State of Wyoming purchased a new stake in Gentex Corporation (NASDAQ:GNTX) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,942 shares of the auto parts company’s stock, valued at approximately $45,000.

A number of other institutional investors have also recently bought and sold shares of the business. Larson Financial Group LLC raised its stake in shares of Gentex by 1,471.0% during the 1st quarter. Larson Financial Group LLC now owns 1,084 shares of the auto parts company’s stock worth $25,000 after purchasing an additional 1,015 shares in the last quarter. Brooklyn Investment Group increased its position in Gentex by 305.7% in the 1st quarter. Brooklyn Investment Group now owns 1,217 shares of the auto parts company’s stock worth $28,000 after buying an additional 917 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in Gentex by 85.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,222 shares of the auto parts company’s stock worth $28,000 after buying an additional 563 shares during the period. Harbor Investment Advisory LLC grew its holdings in shares of Gentex by 208.2% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,618 shares of the auto parts company’s stock worth $38,000 after purchasing an additional 1,093 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Gentex by 103.3% during the 1st quarter. UMB Bank n.a. now owns 2,124 shares of the auto parts company’s stock worth $49,000 after purchasing an additional 1,079 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Gentex Trading Down 0.7%

NASDAQ:GNTX opened at $28.02 on Thursday. Gentex Corporation has a 1 year low of $20.28 and a 1 year high of $31.72. The stock has a market cap of $6.15 billion, a price-to-earnings ratio of 15.83 and a beta of 0.85. The stock has a 50-day moving average price of $26.12 and a two-hundred day moving average price of $23.78.

Gentex (NASDAQ:GNTX) last posted its 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 analysts’ expectations of $591.94 million. Gentex had a return on equity of 16.86% and a net margin of 16.82%.The company’s revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 earnings per share. Gentex has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 8th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, October 8th. Gentex’s dividend payout ratio is currently 27.12%.

Gentex declared that its Board of Directors has approved a stock repurchase plan 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 plans are usually a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GNTX. UBS Group lifted their price objective on Gentex from $23.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, July 28th. Robert W. Baird lifted their price objective 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 reaffirmed a “neutral” rating on shares of Gentex in a research note on Friday, July 11th. B. Riley boosted their price target on Gentex from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Finally, Wall Street Zen raised Gentex from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $28.63.

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.