Bank of Montreal Can Sells 313,280 Shares of Gentex Corporation $GNTX

Bank of Montreal Can trimmed its holdings in Gentex Corporation (NASDAQ:GNTX) by 83.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 60,484 shares of the auto parts company’s stock after selling 313,280 shares during the quarter. Bank of Montreal Can’s holdings in Gentex were worth $1,330,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of GNTX. Cambiar Investors LLC grew its position in Gentex by 65.8% in the 2nd quarter. Cambiar Investors LLC now owns 461,347 shares of the auto parts company’s stock valued at $10,145,000 after acquiring an additional 183,035 shares during the last quarter. AdvisorShares Investments LLC boosted its stake in shares of Gentex by 21.5% during the second quarter. AdvisorShares Investments LLC now owns 19,779 shares of the auto parts company’s stock valued at $435,000 after purchasing an additional 3,499 shares during the period. Retirement Systems of Alabama grew its holdings in shares of Gentex by 8.6% in the second quarter. Retirement Systems of Alabama now owns 659,755 shares of the auto parts company’s stock worth $14,508,000 after purchasing an additional 52,502 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Gentex by 328.0% in the second quarter. Hantz Financial Services Inc. now owns 4,811 shares of the auto parts company’s stock worth $106,000 after purchasing an additional 3,687 shares during the last quarter. Finally, Eubel Brady & Suttman Asset Management Inc. increased its stake in Gentex by 31.6% in the 2nd quarter. Eubel Brady & Suttman Asset Management Inc. now owns 886,145 shares of the auto parts company’s stock worth $19,486,000 after buying an additional 212,949 shares during the period. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Gentex in a research report on Wednesday, October 8th. Zacks Research downgraded shares of Gentex from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Robert W. Baird set a $29.00 price objective on Gentex in a research note on Monday, October 27th. Wall Street Zen upgraded Gentex from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Finally, JPMorgan Chase & Co. lifted their target price on Gentex from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. Two equities 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 an average rating of “Hold” and a consensus price target of $28.29.

Gentex Stock Down 1.7%

Shares of GNTX stock opened at $22.89 on Friday. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 13.46 and a beta of 0.86. Gentex Corporation has a 52-week low of $20.28 and a 52-week high of $31.41. The company’s 50 day moving average is $26.21 and its 200 day moving average is $24.75.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, October 24th. The auto parts company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). Gentex had a net margin of 15.61% and a return on equity of 15.86%. The company had revenue of $570.32 million for the quarter, compared to the consensus estimate of $661.10 million. During the same period last year, the business posted $0.53 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. Gentex has set its FY 2025 guidance at EPS. Analysts anticipate that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 8th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.1%. The ex-dividend date was Wednesday, October 8th. Gentex’s payout ratio is 28.24%.

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.