North Point Portfolio Managers Corp OH Sells 6,327 Shares of Gentex Corporation $GNTX

North Point Portfolio Managers Corp OH lessened its position in Gentex Corporation (NASDAQ:GNTX) by 1.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 342,645 shares of the auto parts company’s stock after selling 6,327 shares during the period. North Point Portfolio Managers Corp OH owned approximately 0.15% of Gentex worth $7,535,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of GNTX. Northwestern Mutual Wealth Management Co. lifted 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 worth $277,000 after purchasing an additional 521 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Gentex by 85.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,222 shares of the auto parts company’s stock valued at $28,000 after buying an additional 563 shares in the last quarter. State of Michigan Retirement System lifted its stake in shares of Gentex by 1.1% in the first quarter. State of Michigan Retirement System now owns 54,440 shares of the auto parts company’s stock valued at $1,268,000 after buying an additional 600 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Gentex by 1.0% during the first quarter. Louisiana State Employees Retirement System now owns 63,700 shares of the auto parts company’s stock valued at $1,484,000 after buying an additional 600 shares during the last quarter. Finally, Values First Advisors Inc. increased its position in shares of Gentex by 1.3% during the first quarter. Values First Advisors Inc. now owns 51,873 shares of the auto parts company’s stock worth $1,209,000 after acquiring an additional 676 shares in the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Gentex Trading Down 0.7%

Shares of GNTX opened at $26.01 on Monday. The stock has a 50 day moving average of $27.72 and a 200 day moving average of $24.41. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 14.69 and a beta of 0.84. Gentex Corporation has a 12 month low of $20.28 and a 12 month high of $31.48.

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. Gentex had a return on equity of 16.86% and a net margin of 16.82%.The business had revenue of $657.86 million for the quarter, compared to analysts’ expectations of $591.94 million. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. Gentex has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex Announces Dividend

The firm 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 $0.12 dividend. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a $0.48 annualized dividend and a yield of 1.8%. Gentex’s payout ratio is currently 27.12%.

Gentex declared that its Board of Directors has approved a share repurchase plan 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. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GNTX shares. The Goldman Sachs Group set a $32.00 price target on shares of Gentex in a research report on Monday, September 29th. B. Riley increased their price objective on Gentex from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gentex in a research report on Wednesday, October 8th. UBS Group reiterated a “neutral” rating and set a $29.00 price target (up previously from $28.00) on shares of Gentex in a report on Monday, October 6th. Finally, Zacks Research cut Gentex from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Two investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $29.14.

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.