Novem Group Has $216,000 Position in Gentex Corporation $GNTX

Novem Group cut its stake in Gentex Corporation (NASDAQ:GNTX) by 15.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,842 shares of the auto parts company’s stock after selling 1,867 shares during the period. Novem Group’s holdings in Gentex were worth $216,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC boosted its holdings in Gentex by 1,471.0% in the first quarter. Larson Financial Group LLC now owns 1,084 shares of the auto parts company’s stock valued at $25,000 after acquiring an additional 1,015 shares during the last quarter. Brooklyn Investment Group boosted its holdings in Gentex by 305.7% in the first quarter. Brooklyn Investment Group now owns 1,217 shares of the auto parts company’s stock valued at $28,000 after acquiring an additional 917 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Gentex by 85.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,222 shares of the auto parts company’s stock valued at $28,000 after acquiring an additional 563 shares during the last quarter. Harbor Investment Advisory LLC boosted its holdings in Gentex by 208.2% in the first quarter. Harbor Investment Advisory LLC now owns 1,618 shares of the auto parts company’s stock valued at $38,000 after acquiring an additional 1,093 shares during the last quarter. Finally, State of Wyoming bought a new stake in Gentex in the first quarter valued at approximately $45,000. 86.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GNTX. UBS Group upped their target price on Gentex from $23.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, July 28th. B. Riley increased their price target on Gentex from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Zacks Research cut Gentex from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Wall Street Zen upgraded Gentex from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Finally, The Goldman Sachs Group restated a “neutral” rating on shares of Gentex in a report on Friday, July 11th. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $28.63.

Gentex Trading Up 1.9%

NASDAQ GNTX opened at $28.90 on Friday. The firm has a market capitalization of $6.34 billion, a P/E ratio of 16.33 and a beta of 0.85. The business has a fifty day simple moving average of $27.45 and a 200 day simple moving average of $24.10. Gentex Corporation has a 12 month low of $20.28 and a 12 month high of $31.72.

Gentex (NASDAQ:GNTX) last released its quarterly 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. The business had revenue of $657.86 million during the quarter, compared to analyst estimates of $591.94 million. Gentex had a return on equity of 16.86% and a net margin of 16.82%.Gentex’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 EPS. Gentex has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, July 16th that allows the company to buyback 40,000,000 shares. This buyback authorization allows the auto parts company to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Gentex Announces Dividend

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

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.