Gentex (NASDAQ:GNTX) Issues Earnings Results, Beats Expectations By $0.04 EPS

Gentex (NASDAQ:GNTX) released its quarterly earnings results on Friday. The auto parts company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04, FiscalAI reports. Gentex had a net margin of 15.19% and a return on equity of 16.05%. The business had revenue of $675.44 million during the quarter, compared to analyst estimates of $649.42 million. During the same period last year, the business earned $0.42 EPS. The business’s revenue was up 17.1% on a year-over-year basis.

Gentex Trading Up 1.6%

Gentex stock traded up $0.36 during midday trading on Friday, hitting $23.39. The stock had a trading volume of 2,606,834 shares, compared to its average volume of 2,217,893. The business has a fifty day moving average price of $22.37 and a 200 day moving average price of $23.38. Gentex has a 12 month low of $20.48 and a 12 month high of $29.38. The stock has a market cap of $5.00 billion, a P/E ratio of 13.43 and a beta of 0.77.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Wednesday, April 8th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Wednesday, April 8th. Gentex’s dividend payout ratio (DPR) is 27.59%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Freedom Capital upgraded Gentex to a “strong-buy” rating in a research note on Friday, March 27th. Wall Street Zen raised Gentex from a “hold” rating to a “buy” rating in a report on Sunday, March 8th. Weiss Ratings restated a “hold (c)” rating on shares of Gentex in a research note on Thursday, January 22nd. B. Riley Financial dropped their price objective on Gentex from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. Finally, UBS Group reissued a “neutral” rating and set a $24.00 price target (down from $25.00) on shares of Gentex in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Gentex has a consensus rating of “Hold” and a consensus price target of $26.17.

Insiders Place Their Bets

In related news, CTO Neil Boehm sold 11,248 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $24.82, for a total transaction of $279,175.36. Following the transaction, the chief technology officer directly owned 58,951 shares in the company, valued at $1,463,163.82. This trade represents a 16.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevin C. Nash sold 11,885 shares of Gentex stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $24.98, for a total transaction of $296,887.30. Following the completion of the transaction, the chief financial officer directly owned 59,430 shares of the company’s stock, valued at approximately $1,484,561.40. This represents a 16.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 58,133 shares of company stock valued at $1,442,313 in the last quarter. Insiders own 0.45% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Invesco Ltd. grew its position in shares of Gentex by 17.8% during the 4th quarter. Invesco Ltd. now owns 471,394 shares of the auto parts company’s stock valued at $10,969,000 after buying an additional 71,114 shares during the last quarter. Corient Private Wealth LLC boosted its stake in Gentex by 63.8% in the fourth quarter. Corient Private Wealth LLC now owns 73,115 shares of the auto parts company’s stock valued at $1,549,000 after acquiring an additional 28,466 shares during the period. First Citizens Bank & Trust Co. grew its holdings in shares of Gentex by 1.9% during the fourth quarter. First Citizens Bank & Trust Co. now owns 29,807 shares of the auto parts company’s stock valued at $694,000 after purchasing an additional 559 shares during the last quarter. EP Wealth Advisors LLC bought a new position in shares of Gentex during the fourth quarter valued at approximately $231,000. Finally, Empowered Funds LLC raised its position in shares of Gentex by 1,871.6% during the 4th quarter. Empowered Funds LLC now owns 266,879 shares of the auto parts company’s stock worth $6,210,000 after purchasing an additional 253,343 shares during the period. 86.76% of the stock is currently owned by institutional investors.

Gentex Company Profile

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).