Gentex Is A Steady Option In An Unsteady Auto Components Sector
Despite global auto sales softening, Gentex's leverage to ADAS mandates and higher-value products like Full Display Mirrors positions it as a more reliable option in the volatile auto components market. Management is looking beyond its core mirrors business with new products such as dimmable surfaces, in-cabin air quality monitors, and smart home solutions, broadening its market reach and growth potential. I believe that improving the mix could drive an EPS beat in the upcoming Q2 earnings report, but I'm concerned that a weakening auto market could drag down expectations for 2H'24.
Gentex Co. (NASDAQ:GNTX) Position Lowered by Quadrant Capital Group LLC
Quadrant Capital Group LLC reduced its position in Gentex Co. (NASDAQ:GNTX – Free Report) by 4.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,823 shares of the auto parts company’s stock after selling 398 shares during the quarter. Quadrant Capital Group LLC’s holdings in Gentex were worth $256,000 at the end of the most recent quarter. Several other institutional investors and hedge funds have also recently bought and sold shares of GNTX. National Bank of Canada FI increased its holdings in shares of Gentex by 159.1% in the 4th quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock valued at $30,000 after acquiring an additional 571 shares during the last quarter. VisionPoint Advisory Group LLC increased its stake in Gentex by 123.6% during the third quarter. VisionPoint Advisory Group LLC now owns 1,203 shares of the auto parts company’s stock valued at $39,000 after purchasing an additional 665 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Gentex during the fourth quarter worth $46,000. Global Retirement Partners LLC lifted its position in shares of Gentex by 371.3% in the 4th quarter. Global Retirement Partners LLC now owns 2,738 shares of the auto parts company’s stock worth $89,000 after buying an additional 2,157 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Gentex by 283.3% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,066 shares of the auto parts company’s stock valued at $100,000 after buying an additional 2,266 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock. Wall Street Analyst Weigh In A number of analysts have recently weighed in on GNTX shares. B. Riley increased their price target on Gentex from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Guggenheim raised their target price on Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. The Goldman Sachs Group boosted their price target on shares of Gentex from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, January 29th. StockNews.com cut shares of Gentex from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Gentex from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $37.83. Check Out Our Latest Analysis on Gentex Insider Activity at Gentex In other Gentex news, CFO Kevin C. Nash sold 13,500 shares of Gentex stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total value of $446,040.00. Following the transaction, the chief financial officer now owns 44,321 shares in the company, valued at $1,464,365.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.41% of the company’s stock. Gentex Trading Up 0.1 % Gentex stock opened at $34.65 on Monday. Gentex Co. has a 52 week low of $25.86 and a 52 week high of $37.58. The stock has a market cap of $8.01 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 0.76 and a beta of 0.98. The company’s 50-day moving average price is $35.18 and its two-hundred day moving average price is $33.58. Gentex (NASDAQ:GNTX – Get Free Report) last posted its quarterly earnings data on Friday, April 26th. The auto parts company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The firm had revenue of $590.23 million during the quarter, compared to the consensus estimate of $600.38 million. Gentex had a return on equity of 19.19% and a net margin of 18.77%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 EPS. Research analysts expect that Gentex Co. will post 2.11 earnings per share for the current fiscal year. Gentex Dividend Announcement The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Friday, April 5th were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.39%. Gentex’s payout ratio is currently 25.40%. About Gentex (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.
