Gentex (NASDAQ:GNTX) Issues Earnings Results

Gentex (NASDAQ:GNTX) issued its quarterly earnings results on Friday. The auto parts company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03, reports. Gentex had a return on equity of 17.78% and a net margin of 17.87%. The firm had revenue of $608.53 million for the quarter, compared to analyst estimates of $611.33 million. Gentex updated its FY 2025 guidance to EPS and its FY 2024 guidance to EPS.

Gentex Stock Performance

Gentex stock opened at $31.25 on Friday. The stock’s 50 day moving average price is $29.93 and its 200 day moving average price is $32.19. The firm has a market capitalization of $7.19 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 0.91 and a beta of 0.92. Gentex has a one year low of $27.86 and a one year high of $37.58.

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.54%. The ex-dividend date was Wednesday, October 9th. Gentex’s dividend payout ratio (DPR) is presently 26.82%.

Insider Buying and Selling

In related news, major shareholder Corp Gentex purchased 3,152,500 shares of Gentex stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average cost of $5.00 per share, with a total value of $15,762,500.00. Following the transaction, the insider now owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.41% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Gentex

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quest Partners LLC purchased a new stake in Gentex during the 2nd quarter worth approximately $31,000. Gladius Capital Management LP purchased a new stake in Gentex during the 2nd quarter worth approximately $34,000. EverSource Wealth Advisors LLC increased its holdings in Gentex by 173.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock worth $42,000 after purchasing an additional 850 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Gentex by 227.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock worth $54,000 after purchasing an additional 1,269 shares during the last quarter. Finally, HHM Wealth Advisors LLC purchased a new stake in Gentex during the 2nd quarter worth approximately $67,000. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GNTX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. The Goldman Sachs Group decreased their price target on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. UBS Group began coverage on Gentex in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price target on the stock. Bank of America reduced their price objective on Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Finally, StockNews.com lowered Gentex from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $36.13.

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.