KBC Group NV Reduces Stock Position in Gentex Corporation $GNTX

KBC Group NV trimmed its holdings in shares of Gentex Corporation (NASDAQ:GNTX) by 31.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,290 shares of the auto parts company’s stock after selling 2,941 shares during the period. KBC Group NV’s holdings in Gentex were worth $138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in GNTX. Victory Capital Management Inc. lifted its stake in Gentex by 26.8% during the first quarter. Victory Capital Management Inc. now owns 93,735 shares of the auto parts company’s stock worth $2,184,000 after purchasing an additional 19,799 shares during the last quarter. Y Intercept Hong Kong Ltd raised its holdings in Gentex by 156.5% during the first quarter. Y Intercept Hong Kong Ltd now owns 59,800 shares of the auto parts company’s stock worth $1,393,000 after purchasing an additional 36,490 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Gentex during the 1st quarter worth approximately $474,000. Advisor OS LLC boosted its holdings in shares of Gentex by 31.4% in the 1st quarter. Advisor OS LLC now owns 12,864 shares of the auto parts company’s stock valued at $300,000 after buying an additional 3,077 shares in the last quarter. Finally, Lincluden Management Ltd. grew its position in shares of Gentex by 7.1% in the 1st quarter. Lincluden Management Ltd. now owns 148,193 shares of the auto parts company’s stock valued at $3,453,000 after buying an additional 9,821 shares during the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GNTX. Zacks Research cut shares of Gentex from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. UBS Group reissued a “neutral” rating and issued a $29.00 target price (up from $28.00) on shares of Gentex in a report on Monday, October 6th. The Goldman Sachs Group set a $27.00 price target on Gentex and gave the stock a “neutral” rating in a research note on Monday, October 27th. Robert W. Baird set a $29.00 price objective on Gentex in a research note on Monday, October 27th. Finally, JPMorgan Chase & Co. increased their price objective on Gentex from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, October 20th. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $28.29.

Gentex Trading Down 1.4%

Gentex stock opened at $21.83 on Friday. The stock has a 50 day moving average of $25.72 and a two-hundred day moving average of $24.76. Gentex Corporation has a twelve month low of $20.28 and a twelve month high of $31.41. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 12.84 and a beta of 0.86.

Gentex (NASDAQ:GNTX) last released its 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). Gentex had a net margin of 15.61% and a return on equity of 15.86%. The company had revenue of $570.32 million during the quarter, compared to analyst estimates of $661.10 million. During the same period in the previous year, the firm posted $0.53 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Gentex has set its FY 2025 guidance at EPS. Equities analysts predict that Gentex Corporation will post 2.04 earnings per share for the current year.

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.