B. Riley Estimates Gentex’s FY2024 Earnings (NASDAQ:GNTX)

Gentex Co. (NASDAQ:GNTX) – Stock analysts at B. Riley dropped their FY2024 earnings per share (EPS) estimates for Gentex in a note issued to investors on Monday, October 28th. B. Riley analyst J. Nichols now forecasts that the auto parts company will post earnings of $1.82 per share for the year, down from their prior forecast of $1.92. B. Riley has a “Buy” rating and a $41.00 price target on the stock. The consensus estimate for Gentex’s current full-year earnings is $1.94 per share. B. Riley also issued estimates for Gentex’s Q4 2024 earnings at $0.45 EPS and FY2025 earnings at $1.97 EPS.

Other research analysts have also recently issued reports about the stock. The Goldman Sachs Group decreased their price objective on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. UBS Group started coverage on Gentex in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price target on the stock. Robert W. Baird upped their price objective on Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday. BNP Paribas cut Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 target price on the stock. in a research report on Tuesday, July 30th. Finally, StockNews.com cut shares of Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. 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, the company presently has an average rating of “Hold” and an average target price of $36.00.

Gentex Stock Down 0.7 %

GNTX stock opened at $31.11 on Tuesday. The company’s 50-day moving average price is $29.99 and its two-hundred day moving average price is $32.12. The firm has a market cap of $7.19 billion, a P/E ratio of 16.46, a P/E/G ratio of 0.91 and a beta of 0.92. Gentex has a 12 month low of $28.25 and a 12 month high of $37.58.

Institutional Trading of Gentex

Institutional investors and hedge funds have recently bought and sold shares of the stock. TD Asset Management Inc grew its position in shares of Gentex by 41.2% in the 1st quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock valued at $168,957,000 after buying an additional 1,363,898 shares during the last quarter. Cetera Investment Advisers increased its position in Gentex by 91.0% during the 1st quarter. Cetera Investment Advisers now owns 127,876 shares of the auto parts company’s stock valued at $4,619,000 after purchasing an additional 60,934 shares during the period. Janney Montgomery Scott LLC increased its position 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 valued at $14,865,000 after purchasing an additional 55,748 shares during the period. BNP Paribas bought a new position in Gentex during the 1st quarter worth approximately $1,073,000. Finally, Leeward Investments LLC MA acquired a new position in shares of Gentex in the 1st quarter worth approximately $28,289,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Gentex

In other Gentex news, major shareholder Corp Gentex acquired 3,152,500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the acquisition, the insider now directly owns 6,463,808 shares in the company, valued at $32,319,040. This 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. Company insiders own 0.41% of the company’s stock.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Wednesday, October 9th. Gentex’s payout ratio is 25.40%.

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.