Whittier Trust Co. Sells 1,068 Shares of Gentex Corporation $GNTX

Whittier Trust Co. trimmed its holdings in Gentex Corporation (NASDAQ:GNTX) by 33.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,124 shares of the auto parts company’s stock after selling 1,068 shares during the quarter. Whittier Trust Co.’s holdings in Gentex were worth $47,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC raised its holdings in shares of Gentex by 1,471.0% in the first quarter. Larson Financial Group LLC now owns 1,084 shares of the auto parts company’s stock valued at $25,000 after buying an additional 1,015 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings 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 during the last quarter. Brooklyn Investment Group raised its holdings in shares of Gentex by 305.7% in the first quarter. Brooklyn Investment Group now owns 1,217 shares of the auto parts company’s stock valued at $28,000 after buying an additional 917 shares during the last quarter. State of Wyoming bought a new position in shares of Gentex in the first quarter valued at about $45,000. Finally, Steph & Co. bought a new position in shares of Gentex in the second quarter valued at about $45,000. 86.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

GNTX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on Gentex from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, October 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Gentex in a research report on Wednesday, October 8th. Wall Street Zen upgraded Gentex from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Zacks Research lowered Gentex from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Finally, UBS Group reiterated a “neutral” rating and issued a $29.00 price objective (up from $28.00) on shares of Gentex in a research report 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $29.14.

Gentex Trading Down 10.2%

Gentex stock opened at $23.64 on Friday. The firm has a market capitalization of $5.19 billion, a P/E ratio of 13.36 and a beta of 0.84. Gentex Corporation has a 1 year low of $20.28 and a 1 year high of $31.48. The business has a 50-day moving average of $27.57 and a 200-day moving average of $24.52.

Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, October 24th. The auto parts company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). The company had revenue of $655.24 million for the quarter, compared to analyst estimates of $661.10 million. Gentex had a return on equity of 16.86% and a net margin of 16.82%.Gentex’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 earnings per share. Gentex has set its FY 2025 guidance at EPS. Research analysts anticipate that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 8th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Wednesday, October 8th. Gentex’s payout ratio is presently 27.12%.

Gentex declared that its board has initiated a stock buyback program on Wednesday, July 16th that authorizes the company to buyback 40,000,000 shares. This buyback authorization authorizes the auto parts company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.