American Century Companies Inc. Acquires 2,492,026 Shares of Gentex Corporation $GNTX

American Century Companies Inc. boosted its stake in shares of Gentex Corporation (NASDAQ:GNTX) by 60.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,611,258 shares of the auto parts company’s stock after acquiring an additional 2,492,026 shares during the quarter. American Century Companies Inc. owned 2.94% of Gentex worth $145,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the company. Segall Bryant & Hamill LLC raised its position in shares of Gentex by 20.0% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 591,391 shares of the auto parts company’s stock worth $13,005,000 after acquiring an additional 98,480 shares in the last quarter. Legal & General Group Plc raised its holdings in Gentex by 4.7% in the second quarter. Legal & General Group Plc now owns 500,905 shares of the auto parts company’s stock worth $11,015,000 after purchasing an additional 22,552 shares in the last quarter. MAI Capital Management raised its holdings in Gentex by 17.4% in the second quarter. MAI Capital Management now owns 10,982 shares of the auto parts company’s stock worth $242,000 after purchasing an additional 1,624 shares in the last quarter. Entropy Technologies LP lifted its position in Gentex by 7.3% during the second quarter. Entropy Technologies LP now owns 20,397 shares of the auto parts company’s stock valued at $449,000 after buying an additional 1,392 shares during the period. Finally, Magnetar Financial LLC bought a new stake in shares of Gentex during the 2nd quarter valued at $4,465,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Wall Street Analyst Weigh In

GNTX has been the subject of several research reports. UBS Group reiterated a “neutral” rating and issued a $29.00 price target (up from $28.00) on shares of Gentex in a research note on Monday, October 6th. B. Riley lifted their target price on shares of Gentex from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, July 28th. Zacks Research downgraded Gentex from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. JPMorgan Chase & Co. raised their price objective on Gentex from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. Finally, Robert W. Baird set a $29.00 target price on Gentex in a report on Monday, October 27th. Two investment 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 company has an average rating of “Hold” and an average target price of $28.29.

Gentex Stock Performance

Shares of NASDAQ:GNTX opened at $22.28 on Tuesday. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of 13.11 and a beta of 0.86. The business has a 50-day simple moving average of $25.48 and a two-hundred day simple moving average of $24.81. Gentex Corporation has a fifty-two week low of $20.28 and a fifty-two week high of $31.41.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, October 24th. The auto parts company reported $0.46 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 analysts’ expectations of $661.10 million. During the same quarter last year, the company posted $0.53 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. Gentex has set its FY 2025 guidance at EPS. As a group, research analysts predict that Gentex Corporation will post 2.04 earnings per share for the current year.

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.