Norris Perne & French LLP MI Has $475,000 Holdings in Gentex Corporation $GNTX

Norris Perne & French LLP MI increased its stake in Gentex Corporation (NASDAQ:GNTX) by 9.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,618 shares of the auto parts company’s stock after buying an additional 1,908 shares during the quarter. Norris Perne & French LLP MI’s holdings in Gentex were worth $475,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Signaturefd LLC boosted its holdings in shares of Gentex by 104.7% in the 2nd quarter. Signaturefd LLC now owns 13,001 shares of the auto parts company’s stock valued at $286,000 after buying an additional 6,649 shares during the last quarter. Steph & Co. acquired a new position in Gentex during the second quarter worth approximately $45,000. LVZ Inc. increased its position in Gentex by 11.1% during the second quarter. LVZ Inc. now owns 22,170 shares of the auto parts company’s stock worth $488,000 after buying an additional 2,218 shares during the last quarter. Alpha Omega Wealth Management LLC increased its position in Gentex by 9.3% during the second quarter. Alpha Omega Wealth Management LLC now owns 206,089 shares of the auto parts company’s stock worth $4,532,000 after buying an additional 17,565 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new position in Gentex during the second quarter worth approximately $315,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Price Performance

GNTX stock opened at $28.90 on Monday. The stock has a market capitalization of $6.34 billion, a price-to-earnings ratio of 16.33 and a beta of 0.85. The business’s fifty day moving average price is $27.45 and its two-hundred day moving average price is $24.10. Gentex Corporation has a fifty-two week low of $20.28 and a fifty-two week high of $31.72.

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

Gentex declared that its Board of Directors has approved a share buyback program on Wednesday, July 16th that authorizes the company to repurchase 40,000,000 outstanding shares. This repurchase authorization authorizes the auto parts company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Gentex Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently weighed in on GNTX. Robert W. Baird increased their price target on Gentex from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. B. Riley increased their price target on Gentex from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, July 28th. UBS Group increased their price target on Gentex from $23.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. Zacks Research cut Gentex from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Finally, Wall Street Zen upgraded Gentex from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Two investment 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, Gentex has an average rating of “Hold” and a consensus price target of $28.63.

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.