Inspire Investing LLC Buys 2,626 Shares of Gentex Corporation $GNTX

Inspire Investing LLC grew its stake in shares of Gentex Corporation (NASDAQ:GNTX) by 9.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,651 shares of the auto parts company’s stock after acquiring an additional 2,626 shares during the quarter. Inspire Investing LLC’s holdings in Gentex were worth $674,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC increased its holdings in shares of Gentex by 1,471.0% during 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 in the last quarter. Brooklyn Investment Group increased its stake in Gentex by 305.7% during the 1st quarter. Brooklyn Investment Group now owns 1,217 shares of the auto parts company’s stock valued at $28,000 after purchasing an additional 917 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Gentex by 85.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,222 shares of the auto parts company’s stock valued at $28,000 after purchasing an additional 563 shares in the last quarter. State of Wyoming bought a new stake in shares of Gentex during the first quarter valued at approximately $45,000. Finally, Steph & Co. bought a new stake in shares of Gentex during the second quarter valued at approximately $45,000. 86.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GNTX shares. Weiss Ratings reissued a “hold (c)” rating on shares of Gentex in a research report on Wednesday, October 8th. The Goldman Sachs Group set a $32.00 price objective on Gentex in a report on Monday, September 29th. UBS Group reiterated a “neutral” rating and issued a $29.00 price objective (up from $28.00) on shares of Gentex in a report on Monday, October 6th. Zacks Research lowered shares of Gentex from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Finally, Industrial Alliance Securities set a $25.00 price objective on shares of Gentex in a report on Friday, July 11th. Two investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $29.88.

Gentex Stock Down 2.3%

Gentex stock opened at $25.63 on Monday. The business has a 50-day simple moving average of $27.77 and a two-hundred day simple moving average of $24.31. The company has a market cap of $5.63 billion, a P/E ratio of 14.48 and a beta of 0.84. Gentex Corporation has a 52-week low of $20.28 and a 52-week high of $31.48.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, July 25th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $591.94 million. During the same period in the previous year, the business posted $0.37 earnings per share. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. Gentex has set its FY 2025 guidance at EPS. Research analysts anticipate that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 8th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 8th. Gentex’s payout ratio is currently 27.12%.

Gentex announced that its board has initiated a stock buyback program on Wednesday, July 16th that permits the company to repurchase 40,000,000 shares. This repurchase authorization permits the auto parts company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

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.