Gentex Corporation $GNTX Holdings Cut by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its stake in shares of Gentex Corporation (NASDAQ:GNTX) by 1.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 131,959 shares of the auto parts company’s stock after selling 2,434 shares during the period. PNC Financial Services Group Inc.’s holdings in Gentex were worth $2,902,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Gentex by 487.7% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,447,651 shares of the auto parts company’s stock worth $80,330,000 after acquiring an additional 2,860,969 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Gentex by 142.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,589,585 shares of the auto parts company’s stock worth $106,937,000 after purchasing an additional 2,695,117 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Gentex by 148.5% during the 1st quarter. American Century Companies Inc. now owns 4,119,232 shares of the auto parts company’s stock worth $95,978,000 after purchasing an additional 2,461,835 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Gentex by 46.2% during the 1st quarter. JPMorgan Chase & Co. now owns 7,673,701 shares of the auto parts company’s stock valued at $178,797,000 after buying an additional 2,424,471 shares during the last quarter. Finally, Burgundy Asset Management Ltd. grew its stake in shares of 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 valued at $180,067,000 after buying an additional 2,211,392 shares in the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Gentex from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Robert W. Baird set a $29.00 price target on shares of Gentex in a report on Monday, October 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Gentex in a report on Wednesday, October 8th. Zacks Research downgraded shares of Gentex from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Finally, The Goldman Sachs Group set a $27.00 price target on Gentex and gave the stock a “neutral” rating in a research report on Monday, October 27th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Gentex has a consensus rating of “Hold” and an average price target of $28.29.

Gentex Price Performance

Shares of GNTX opened at $22.28 on Wednesday. The company has a market capitalization of $4.88 billion, a PE ratio of 13.11 and a beta of 0.86. Gentex Corporation has a one year low of $20.28 and a one year high of $31.41. The company’s fifty day moving average price is $25.97 and its 200 day moving average price is $24.80.

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

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 8th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, October 8th. This represents a $0.48 dividend on an annualized basis and a yield of 2.2%. Gentex’s dividend payout ratio (DPR) is 28.24%.

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.