Farther Finance Advisors LLC Reduces Position in Gentex Corporation $GNTX

Farther Finance Advisors LLC decreased its holdings in shares of Gentex Corporation (NASDAQ:GNTX) by 27.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,713 shares of the auto parts company’s stock after selling 2,570 shares during the quarter. Farther Finance Advisors LLC’s holdings in Gentex were worth $148,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its holdings in Gentex by 4.0% in the first 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 acquiring an additional 62,137 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Gentex by 0.4% in the first quarter. Principal Financial Group Inc. now owns 523,489 shares of the auto parts company’s stock valued at $12,197,000 after acquiring an additional 1,923 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in Gentex by 5.9% in the first quarter. Asset Management One Co. Ltd. now owns 219,454 shares of the auto parts company’s stock valued at $5,113,000 after acquiring an additional 12,168 shares during the last quarter. Praxis Investment Management Inc. acquired a new position in Gentex in the first quarter valued at $359,000. Finally, Speece Thorson Capital Group Inc. boosted its holdings in Gentex by 18.3% in the first quarter. Speece Thorson Capital Group Inc. now owns 682,684 shares of the auto parts company’s stock valued at $15,907,000 after acquiring an additional 105,446 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. B. Riley lifted their target price on Gentex from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, July 28th. The Goldman Sachs Group set a $32.00 target price on Gentex in a report on Monday. Zacks Research cut Gentex from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. UBS Group boosted 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, Wall Street Zen upgraded Gentex from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $29.75.

Gentex Stock Down 0.4%

Shares of Gentex stock opened at $27.84 on Friday. The firm has a market cap of $6.11 billion, a P/E ratio of 15.73 and a beta of 0.84. Gentex Corporation has a fifty-two week low of $20.28 and a fifty-two week high of $31.48. The business has a 50-day moving average price of $27.82 and a 200 day moving average price of $24.21.

Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, July 25th. The auto parts company reported $0.47 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $591.94 million. During the same period in the previous year, the firm posted $0.37 earnings per share. 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 anticipate that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex Announces Dividend

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 given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Wednesday, October 8th. Gentex’s dividend payout ratio is 27.12%.

Gentex declared that its board has initiated a stock buyback plan on Wednesday, July 16th that authorizes the company to repurchase 40,000,000 outstanding shares. This repurchase authorization authorizes the auto parts company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

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.