GAMMA Investing LLC Acquires 764 Shares of Gentex Corporation $GNTX

GAMMA Investing LLC lifted its position in Gentex Corporation (NASDAQ:GNTX) by 12.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,721 shares of the auto parts company’s stock after purchasing an additional 764 shares during the quarter. GAMMA Investing LLC’s holdings in Gentex were worth $148,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its position in 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 valued at $37,798,000 after purchasing an additional 62,137 shares during the last quarter. Principal Financial Group Inc. boosted its stake 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 valued at $12,197,000 after purchasing an additional 1,923 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake 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 valued at $5,113,000 after purchasing an additional 12,168 shares during the last quarter. Praxis Investment Management Inc. purchased a new position in shares of Gentex in the 1st quarter worth $359,000. Finally, Speece Thorson Capital Group Inc. boosted its stake in shares of Gentex by 18.3% in 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 buying an additional 105,446 shares during the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GNTX shares. B. Riley boosted their price objective on Gentex from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Wall Street Zen raised Gentex from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. The Goldman Sachs Group set a $32.00 price objective on Gentex in a research note on Monday. UBS Group increased their price objective on Gentex from $23.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. Finally, Zacks Research lowered Gentex from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Gentex currently has an average rating of “Hold” and an average price target of $29.75.

Gentex Stock Down 1.9%

NASDAQ:GNTX opened at $28.35 on Tuesday. Gentex Corporation has a 52 week low of $20.28 and a 52 week high of $31.48. The stock has a market capitalization of $6.22 billion, a PE ratio of 16.02 and a beta of 0.85. The stock’s 50-day moving average price is $27.56 and its 200-day moving average price is $24.13.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, July 25th. The auto parts company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.08. The firm had revenue of $657.86 million for the quarter, compared to analyst estimates of $591.94 million. Gentex had a net margin of 16.82% and a return on equity of 16.86%. Gentex’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period last year, the company posted $0.37 EPS. Gentex has set its FY 2025 guidance at EPS. Sell-side analysts expect that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.7%. The ex-dividend date is Wednesday, October 8th. Gentex’s dividend payout ratio (DPR) is 27.12%.

Gentex declared that its board has approved a stock buyback program on Wednesday, July 16th that allows the company to repurchase 40,000,000 shares. This repurchase authorization allows the auto parts company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership 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.