JPMorgan Chase & Co. Trims Holdings in Gentex Corporation $GNTX

JPMorgan Chase & Co. lowered its holdings in Gentex Corporation (NASDAQ:GNTX) by 28.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,519,366 shares of the auto parts company’s stock after selling 2,154,335 shares during the period. JPMorgan Chase & Co.’s holdings in Gentex were worth $121,371,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its position in Gentex by 4.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,622,237 shares of the auto parts company’s stock valued at $37,798,000 after purchasing an additional 62,137 shares during the period. Hsbc Holdings PLC purchased a new stake in shares of Gentex in the 1st quarter worth about $700,000. Nuveen LLC bought a new stake in shares of Gentex during the 1st quarter valued at about $11,732,000. Jump Financial LLC purchased a new position in shares of Gentex during the first quarter valued at about $3,803,000. Finally, OMERS ADMINISTRATION Corp bought a new position in Gentex in the first quarter worth about $1,694,000. 86.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on GNTX shares. Robert W. Baird set a $29.00 price objective on shares of Gentex in a report on Monday, October 27th. Weiss Ratings restated a “hold (c)” rating on shares of Gentex in a research note on Wednesday, October 8th. UBS Group restated a “neutral” rating and set a $29.00 price target (up from $28.00) on shares of Gentex in a research report on Monday, October 6th. Zacks Research downgraded Gentex from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Finally, JPMorgan Chase & Co. raised their price objective on Gentex from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $28.29.

Gentex Stock Down 0.0%

Gentex stock opened at $22.73 on Thursday. Gentex Corporation has a twelve month low of $20.28 and a twelve month high of $31.26. The company has a market capitalization of $4.98 billion, a P/E ratio of 13.37 and a beta of 0.86. The stock’s 50 day moving average is $25.23 and its 200 day moving average is $24.80.

Gentex (NASDAQ:GNTX) last released its 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 return on equity of 15.86% and a net margin of 15.61%.The company had revenue of $570.32 million during the quarter, compared to the consensus estimate of $661.10 million. During the same period last year, the firm posted $0.53 earnings per share. The company’s revenue was up 7.7% compared to the same quarter last year. Gentex has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Gentex Corporation will post 2.04 EPS for the current year.

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.