Gentex Corporation $GNTX Stock Position Lowered by Icon Advisers Inc. Co.

by · The Cerbat Gem

Icon Advisers Inc. Co. decreased its position in Gentex Corporation (NASDAQ:GNTX – Free Report) by 26.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 42,783 shares of the auto parts company’s stock after selling 15,717 shares during the period. Icon Advisers Inc. Co.’s holdings in Gentex were worth $941,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Gentex by 4.1% in the first quarter. Vanguard Group Inc. now owns 22,581,938 shares of the auto parts company’s stock worth $526,159,000 after buying an additional 886,785 shares during the period. Burgundy Asset Management Ltd. lifted its stake in Gentex by 40.1% in the 1st quarter. Burgundy Asset Management Ltd. now owns 7,728,209 shares of the auto parts company’s stock worth $180,067,000 after acquiring an additional 2,211,392 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Gentex by 46.2% during the 1st quarter. JPMorgan Chase & Co. now owns 7,673,701 shares of the auto parts company’s stock worth $178,797,000 after acquiring an additional 2,424,471 shares during the period. Ariel Investments LLC grew its stake in Gentex by 10.7% during the 1st quarter. Ariel Investments LLC now owns 7,082,055 shares of the auto parts company’s stock valued at $165,012,000 after acquiring an additional 687,329 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Gentex by 60.5% in the 2nd quarter. American Century Companies Inc. now owns 6,611,258 shares of the auto parts company’s stock valued at $145,382,000 after purchasing an additional 2,492,026 shares during the period. 86.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Get Our Latest Research Report on GNTX

Gentex Trading Up 0.4%

Gentex stock opened at $22.83 on Monday. Gentex Corporation has a 1-year low of $20.28 and a 1-year high of $31.25. The firm’s fifty day simple moving average is $24.99 and its 200-day simple moving average is $24.81. The company has a market capitalization of $5.00 billion, a P/E ratio of 13.43 and a beta of 0.86.

Gentex (NASDAQ:GNTX – Get Free Report) last posted 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 business had revenue of $570.32 million for the quarter, compared to analyst estimates of $661.10 million. During the same period in the previous year, the company earned $0.53 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. Gentex has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Wednesday, January 7th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, January 7th. Gentex’s dividend payout ratio (DPR) is presently 28.24%.

Gentex Company Profile

(Free Report)

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.

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