Seaport Res Ptn Predicts Gentex FY2024 Earnings

Gentex Co. (NASDAQ:GNTX) – Seaport Res Ptn issued their FY2024 EPS estimates for Gentex in a research note issued on Monday, October 28th. Seaport Res Ptn analyst G. Chin forecasts that the auto parts company will post earnings per share of $1.85 for the year. The consensus estimate for Gentex’s current full-year earnings is $1.94 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.

Several other analysts have also recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. BNP Paribas downgraded Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research report on Tuesday, July 30th. The Goldman Sachs Group dropped their target price on Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. B. Riley decreased their price target on Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Monday, July 29th. Finally, Robert W. Baird raised their price target on Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Gentex currently has a consensus rating of “Hold” and an average target price of $36.00.

Gentex Stock Down 2.6 %

Gentex stock opened at $30.31 on Thursday. Gentex has a 52-week low of $28.25 and a 52-week high of $37.58. The firm’s fifty day moving average is $29.98 and its 200 day moving average is $32.11. The company has a market cap of $6.98 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 0.91 and a beta of 0.92.

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Wednesday, October 9th. Gentex’s dividend payout ratio (DPR) is presently 25.67%.

Insiders Place Their Bets

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

Institutional Trading of Gentex

Institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its position in Gentex by 38.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 26,750 shares of the auto parts company’s stock valued at $966,000 after purchasing an additional 7,449 shares in the last quarter. State of Michigan Retirement System raised its holdings in shares of Gentex by 2.3% in the first quarter. State of Michigan Retirement System now owns 57,240 shares of the auto parts company’s stock valued at $2,068,000 after acquiring an additional 1,300 shares in the last quarter. Private Advisor Group LLC lifted its stake in Gentex by 3.7% in the first quarter. Private Advisor Group LLC now owns 19,768 shares of the auto parts company’s stock worth $714,000 after acquiring an additional 704 shares during the period. Janney Montgomery Scott LLC grew its holdings in Gentex by 15.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 411,535 shares of the auto parts company’s stock worth $14,865,000 after acquiring an additional 55,748 shares in the last quarter. Finally, BNP Paribas purchased a new position in Gentex during the 1st quarter valued at about $1,073,000. Institutional investors own 86.76% of the company’s stock.

About Gentex

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.