MQS Management LLC Sells 8,762 Shares of Gentex Corporation $GNTX

MQS Management LLC trimmed its position in Gentex Corporation (NASDAQ:GNTX) by 33.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,717 shares of the auto parts company’s stock after selling 8,762 shares during the quarter. MQS Management LLC’s holdings in Gentex were worth $390,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Gentex by 4.6% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 11,875 shares of the auto parts company’s stock valued at $277,000 after purchasing an additional 521 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Gentex by 85.4% in 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 during the period. State of Michigan Retirement System raised its holdings in shares of Gentex by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 54,440 shares of the auto parts company’s stock valued at $1,268,000 after purchasing an additional 600 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of Gentex by 1.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 63,700 shares of the auto parts company’s stock valued at $1,484,000 after purchasing an additional 600 shares during the period. Finally, Values First Advisors Inc. raised its holdings in shares of Gentex by 1.3% in the 1st quarter. Values First Advisors Inc. now owns 51,873 shares of the auto parts company’s stock valued at $1,209,000 after purchasing an additional 676 shares during the period. 86.76% of the stock is owned by institutional investors.

Gentex Stock Down 10.2%

Shares of NASDAQ:GNTX opened at $23.64 on Monday. The company’s 50 day moving average price is $27.57 and its two-hundred day moving average price is $24.57. Gentex Corporation has a 12-month low of $20.28 and a 12-month high of $31.48. The firm has a market cap of $5.19 billion, a PE ratio of 13.91 and a beta of 0.84.

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 analysts’ consensus estimates of $0.47 by ($0.01). Gentex had a return on equity of 15.86% and a net margin of 15.61%.The business had revenue of $655.24 million for the quarter, compared to analyst estimates of $661.10 million. During the same quarter in the previous year, the company earned $0.53 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. Gentex has set its FY 2025 guidance at EPS. On average, research analysts expect that Gentex Corporation will post 2.04 EPS for the current year.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 8th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Wednesday, October 8th. Gentex’s dividend payout ratio is presently 28.24%.

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

Analysts Set New Price Targets

GNTX has been the topic of a number of research analyst reports. Industrial Alliance Securities set a $25.00 target price on shares of Gentex in a report on Friday, July 11th. UBS Group reiterated a “neutral” rating and issued a $29.00 price target (up previously from $28.00) on shares of Gentex in a research note on Monday, October 6th. Wall Street Zen upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Robert W. Baird upped their price target on shares of Gentex from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. Finally, JPMorgan Chase & Co. upped their price target on shares of Gentex from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, October 20th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Gentex currently has an average rating of “Hold” and a consensus price target of $29.14.

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.