Seaport Res Ptn Predicts Gentex FY2024 Earnings

Gentex Co. (NASDAQ:GNTX) – Equities researchers at Seaport Res Ptn issued their FY2024 earnings per share (EPS) estimates for Gentex in a note issued to investors on Monday, October 28th. Seaport Res Ptn analyst G. Chin forecasts that the auto parts company will post earnings of $1.85 per share for the year. The consensus estimate for Gentex’s current full-year earnings is $1.85 per share. Seaport Res Ptn also issued estimates for Gentex’s Q4 2024 earnings at $0.48 EPS and FY2025 earnings at $2.04 EPS.

A number of other analysts have also weighed in on the company. Bank of America lowered their target price on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, October 14th. UBS Group assumed coverage on Gentex in a report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. BNP Paribas lowered Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective for the company. in a report on Tuesday, July 30th. Finally, B. Riley decreased their price objective on Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a report on Monday, July 29th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $36.00.

Gentex Stock Up 0.7 %

Gentex stock opened at $30.53 on Thursday. The business has a fifty day moving average of $29.97 and a two-hundred day moving average of $32.08. The firm has a market cap of $7.03 billion, a P/E ratio of 16.33, a P/E/G ratio of 1.01 and a beta of 0.92. Gentex has a twelve month low of $28.30 and a twelve month high of $37.58.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Wednesday, October 9th. Gentex’s dividend payout ratio is currently 25.67%.

Insider Activity

In other Gentex news, major shareholder Corp Gentex bought 3,152,500 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were acquired at an average cost of $5.00 per share, with a total value of $15,762,500.00. Following the purchase, the insider now directly owns 6,463,808 shares of the company’s stock, valued at $32,319,040. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Gentex

Several institutional investors have recently modified their holdings of GNTX. Scharf Investments LLC raised its holdings in shares of Gentex by 36,001.4% in the second quarter. Scharf Investments LLC now owns 2,278,357 shares of the auto parts company’s stock valued at $76,803,000 after buying an additional 2,272,046 shares during the last quarter. TD Asset Management Inc increased its position in shares of Gentex by 41.2% in the first quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock worth $168,957,000 after acquiring an additional 1,363,898 shares in the last quarter. Motley Fool Asset Management LLC grew its holdings in Gentex by 287.7% during the 1st quarter. Motley Fool Asset Management LLC now owns 1,204,152 shares of the auto parts company’s stock valued at $43,494,000 after purchasing an additional 893,552 shares in the last quarter. Epoch Investment Partners Inc. grew its holdings in Gentex by 32.6% during the 1st quarter. Epoch Investment Partners Inc. now owns 2,963,250 shares of the auto parts company’s stock worth $107,033,000 after acquiring an additional 727,913 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Gentex by 14.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,989,248 shares of the auto parts company’s stock valued at $134,475,000 after buying an additional 489,689 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Company 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.