Texas Permanent School Fund Corp Lowers Position in Gentex Co. (NASDAQ:GNTX)

Texas Permanent School Fund Corp trimmed its holdings in shares of Gentex Co. (NASDAQ:GNTXFree Report) by 3.7% during the third quarter, Holdings Channel reports. The firm owned 198,254 shares of the auto parts company’s stock after selling 7,518 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Gentex were worth $6,451,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Gentex by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 23,483,145 shares of the auto parts company’s stock valued at $559,838,000 after purchasing an additional 93,928 shares during the period. BlackRock Inc. boosted its stake in Gentex by 0.4% during the 1st quarter. BlackRock Inc. now owns 21,794,462 shares of the auto parts company’s stock valued at $610,899,000 after purchasing an additional 94,837 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in Gentex by 99,783.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,630,950 shares of the auto parts company’s stock valued at $235,366,000 after purchasing an additional 8,622,309 shares during the period. Ariel Investments LLC boosted its stake in Gentex by 92.4% during the 1st quarter. Ariel Investments LLC now owns 8,174,011 shares of the auto parts company’s stock valued at $238,436,000 after purchasing an additional 3,925,355 shares during the period. Finally, State Street Corp boosted its stake in Gentex by 1.5% during the 1st quarter. State Street Corp now owns 6,886,387 shares of the auto parts company’s stock valued at $193,025,000 after purchasing an additional 100,063 shares during the period. 84.60% of the stock is owned by institutional investors and hedge funds.

Gentex Price Performance

Shares of GNTX opened at $35.32 on Monday. The firm’s 50 day moving average is $32.45 and its 200-day moving average is $31.88. The stock has a market capitalization of $8.24 billion, a P/E ratio of 19.20, a P/E/G ratio of 0.94 and a beta of 0.97. Gentex Co. has a 12-month low of $25.77 and a 12-month high of $35.35.

Gentex (NASDAQ:GNTXGet Free Report) last announced its quarterly earnings data on Friday, January 26th. The auto parts company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.06. Gentex had a net margin of 18.63% and a return on equity of 19.25%. The company had revenue of $589.13 million for the quarter, compared to analysts’ expectations of $563.42 million. During the same quarter in the previous year, the company posted $0.37 EPS. The business’s revenue was up 19.3% compared to the same quarter last year. As a group, equities research analysts forecast that Gentex Co. will post 2.17 EPS for the current fiscal year.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 17th. Shareholders of record on Friday, January 5th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Thursday, January 4th. Gentex’s payout ratio is 26.09%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GNTX. The Goldman Sachs Group boosted their target price on shares of Gentex from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. increased their price objective on shares of Gentex from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. StockNews.com cut shares of Gentex from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, B. Riley increased their price objective on shares of Gentex from $36.00 to $42.00 and gave the company a “buy” rating in a report on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $36.80.

Check Out Our Latest Stock Analysis on GNTX

Insiders Place Their Bets

In other Gentex news, Director Richard O. Schaum sold 6,022 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $33.93, for a total value of $204,326.46. Following the completion of the transaction, the director now directly owns 62,555 shares in the company, valued at $2,122,491.15. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.47% of the company’s stock.

Gentex Company Profile

(Free Report)

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, 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.

See Also

Want to see what other hedge funds are holding GNTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gentex Co. (NASDAQ:GNTXFree Report).

Institutional Ownership by Quarter for Gentex (NASDAQ:GNTX)

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