Gentex Corporation $GNTX Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama increased its holdings in Gentex Corporation (NASDAQ:GNTX) by 8.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 659,755 shares of the auto parts company’s stock after purchasing an additional 52,502 shares during the quarter. Retirement Systems of Alabama owned 0.29% of Gentex worth $14,508,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of GNTX. Larson Financial Group LLC raised its holdings in Gentex by 1,471.0% in the 1st quarter. Larson Financial Group LLC now owns 1,084 shares of the auto parts company’s stock worth $25,000 after purchasing an additional 1,015 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in 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 worth $28,000 after purchasing an additional 563 shares during the period. Brooklyn Investment Group raised its holdings in Gentex by 305.7% in the 1st quarter. Brooklyn Investment Group now owns 1,217 shares of the auto parts company’s stock worth $28,000 after purchasing an additional 917 shares during the period. State of Wyoming acquired a new position in shares of Gentex during the first quarter valued at approximately $45,000. Finally, Steph & Co. acquired a new position in shares of Gentex during the second quarter valued at approximately $45,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Gentex in a report on Wednesday, October 8th. Robert W. Baird set a $29.00 target price on Gentex in a report on Monday, October 27th. JPMorgan Chase & Co. increased their target price on Gentex from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, October 20th. The Goldman Sachs Group set a $27.00 target price on Gentex and gave the company a “neutral” rating in a report on Monday, October 27th. Finally, B. Riley increased their target price on Gentex from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, July 28th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $28.29.

Gentex Stock Performance

NASDAQ:GNTX opened at $23.45 on Friday. Gentex Corporation has a one year low of $20.28 and a one year high of $31.41. The stock has a market cap of $5.15 billion, a PE ratio of 13.79 and a beta of 0.84. The stock has a 50 day moving average price of $27.18 and a 200 day moving average price of $24.65.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, October 24th. The auto parts company reported $0.46 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 $655.24 million during the quarter, compared to analyst estimates of $661.10 million. During the same period in the prior year, the business posted $0.53 EPS. Gentex’s revenue for the quarter was up 7.7% compared to the same quarter last year. Gentex has set its FY 2025 guidance at EPS. As a group, analysts predict that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, October 8th. Gentex’s dividend payout ratio (DPR) is currently 28.24%.

Gentex declared that its Board of Directors has authorized a stock repurchase program on Wednesday, July 16th that allows the company to repurchase 40,000,000 shares. This repurchase authorization allows the auto parts company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

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.