Oak Family Advisors LLC Acquires 21,721 Shares of Gentex Corporation $GNTX

Oak Family Advisors LLC grew its holdings in shares of Gentex Corporation (NASDAQ:GNTX) by 18.4% during the second quarter, Holdings Channel reports. The firm owned 139,575 shares of the auto parts company’s stock after purchasing an additional 21,721 shares during the period. Oak Family Advisors LLC’s holdings in Gentex were worth $3,069,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Janney Montgomery Scott LLC raised its holdings in shares of Gentex by 5.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 1,118,695 shares of the auto parts company’s stock valued at $24,600,000 after purchasing an additional 57,003 shares in the last quarter. Norris Perne & French LLP MI raised its holdings in Gentex by 9.7% in the 2nd quarter. Norris Perne & French LLP MI now owns 21,618 shares of the auto parts company’s stock worth $475,000 after acquiring an additional 1,908 shares during the period. Signaturefd LLC raised its holdings in Gentex by 104.7% in the 2nd quarter. Signaturefd LLC now owns 13,001 shares of the auto parts company’s stock worth $286,000 after acquiring an additional 6,649 shares during the period. Steph & Co. bought a new position in Gentex in the 2nd quarter worth $45,000. Finally, LVZ Inc. raised its holdings in Gentex by 11.1% in the 2nd quarter. LVZ Inc. now owns 22,170 shares of the auto parts company’s stock worth $488,000 after acquiring an additional 2,218 shares during the period. Institutional investors own 86.76% of the company’s stock.

Gentex Stock Performance

NASDAQ:GNTX opened at $28.35 on Tuesday. The firm’s 50-day moving average is $27.56 and its 200-day moving average is $24.13. Gentex Corporation has a 52-week low of $20.28 and a 52-week high of $31.48. The company has a market cap of $6.22 billion, a price-to-earnings ratio of 16.02 and a beta of 0.85.

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

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

Gentex Dividend Announcement

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

Wall Street Analysts Forecast Growth

GNTX has been the topic of several recent analyst reports. Industrial Alliance Securities set a $25.00 target price on shares of Gentex in a report on Friday, July 11th. Zacks Research downgraded shares of Gentex from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. B. Riley lifted their target price on shares of Gentex from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Robert W. Baird lifted their target price on shares of Gentex from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, July 28th. Finally, The Goldman Sachs Group set a $32.00 target price on shares of Gentex in a report on Monday. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Gentex presently has an average rating of “Hold” and a consensus price target of $29.75.

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.