Gentex Corporation $GNTX Position Trimmed by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its holdings in Gentex Corporation (NASDAQ:GNTX) by 7.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 62,566 shares of the auto parts company’s stock after selling 5,100 shares during the quarter. Handelsbanken Fonder AB’s holdings in Gentex were worth $1,376,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GNTX. Addison Advisors LLC acquired a new position in shares of Gentex in the 2nd quarter worth $25,000. Brooklyn Investment Group lifted its holdings in shares of Gentex by 305.7% during the first quarter. Brooklyn Investment Group now owns 1,217 shares of the auto parts company’s stock valued at $28,000 after purchasing an additional 917 shares during the last quarter. State of Wyoming purchased a new stake in shares of Gentex during the first quarter valued at $45,000. Steph & Co. acquired a new position in shares of Gentex in the 2nd quarter valued at $45,000. Finally, UMB Bank n.a. increased its stake in Gentex by 34.4% in the 2nd quarter. UMB Bank n.a. now owns 2,854 shares of the auto parts company’s stock worth $63,000 after purchasing an additional 730 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Gentex Price Performance

NASDAQ GNTX opened at $22.73 on Friday. The company has a 50 day simple moving average of $25.11 and a 200-day simple moving average of $24.79. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 13.37 and a beta of 0.86. Gentex Corporation has a 52-week low of $20.28 and a 52-week high of $31.26.

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

Wall Street Analyst Weigh In

A number of analysts have commented on GNTX shares. Robert W. Baird set a $29.00 price objective on shares of Gentex in a research note on Monday, October 27th. JPMorgan Chase & Co. boosted their price target on shares of Gentex from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, October 20th. Weiss Ratings restated a “hold (c)” rating on shares of Gentex in a research report on Wednesday, October 8th. Zacks Research lowered shares of Gentex from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Finally, UBS Group reissued a “neutral” rating and set a $29.00 target price (up from $28.00) on shares of Gentex in a research note on Monday, October 6th. 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 MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $28.29.

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.