Wealth Enhancement Advisory Services LLC Sells 1,232 Shares of Gentex Corporation $GNTX

Wealth Enhancement Advisory Services LLC cut its stake in shares of Gentex Corporation (NASDAQ:GNTX) by 2.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,824 shares of the auto parts company’s stock after selling 1,232 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Gentex were worth $1,129,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of GNTX. Fuller & Thaler Asset Management Inc. lifted its stake in Gentex by 487.7% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,447,651 shares of the auto parts company’s stock valued at $80,330,000 after acquiring an additional 2,860,969 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Gentex by 142.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,589,585 shares of the auto parts company’s stock worth $106,937,000 after purchasing an additional 2,695,117 shares during the period. American Century Companies Inc. raised its stake in shares of Gentex by 148.5% during the 1st quarter. American Century Companies Inc. now owns 4,119,232 shares of the auto parts company’s stock worth $95,978,000 after purchasing an additional 2,461,835 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Gentex by 46.2% during the 1st quarter. JPMorgan Chase & Co. now owns 7,673,701 shares of the auto parts company’s stock worth $178,797,000 after purchasing an additional 2,424,471 shares during the period. Finally, Burgundy Asset Management Ltd. raised its stake in shares of Gentex by 40.1% during the 1st quarter. Burgundy Asset Management Ltd. now owns 7,728,209 shares of the auto parts company’s stock worth $180,067,000 after purchasing an additional 2,211,392 shares during the period. 86.76% of the stock is currently owned by institutional investors.

Gentex Stock Performance

Shares of GNTX opened at $27.94 on Thursday. The stock has a 50-day moving average price of $27.74 and a 200 day moving average price of $24.18. Gentex Corporation has a one year low of $20.28 and a one year high of $31.48. The company has a market capitalization of $6.13 billion, a P/E ratio of 15.79 and a beta of 0.84.

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

Gentex Dividend Announcement

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

Gentex declared that its board has approved a share repurchase program on Wednesday, July 16th that permits the company to buyback 40,000,000 outstanding shares. This buyback authorization permits the auto parts company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have weighed in on GNTX. UBS Group increased their target price on shares of Gentex from $23.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, July 28th. Industrial Alliance Securities set a $25.00 price objective on Gentex in a research note on Friday, July 11th. Robert W. Baird boosted their target price on Gentex from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, July 28th. Wall Street Zen upgraded Gentex from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Finally, B. Riley boosted their target price on Gentex from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Gentex has a consensus rating of “Hold” and an average target price of $29.75.

Gentex 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.