Gentex Co. (NASDAQ:GNTX) Stake Cut by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its stake in Gentex Co. (NASDAQ:GNTX) by 4.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 526,727 shares of the auto parts company’s stock after selling 23,608 shares during the quarter. New York State Common Retirement Fund owned approximately 0.23% of Gentex worth $17,203,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. VisionPoint Advisory Group LLC lifted its stake in Gentex by 123.6% in the third quarter. VisionPoint Advisory Group LLC now owns 1,203 shares of the auto parts company’s stock valued at $39,000 after buying an additional 665 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Gentex by 371.3% in the fourth quarter. Global Retirement Partners LLC now owns 2,738 shares of the auto parts company’s stock valued at $89,000 after buying an additional 2,157 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Gentex by 283.3% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,066 shares of the auto parts company’s stock valued at $100,000 after buying an additional 2,266 shares during the last quarter. Lavaca Capital LLC bought a new stake in Gentex in the third quarter valued at $206,000. Finally, Shakespeare Wealth Management Inc. bought a new stake in Gentex in the third quarter valued at $209,000. 86.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GNTX has been the topic of a number of recent research reports. The Goldman Sachs Group raised their target price on Gentex from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Guggenheim raised their price target on Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. B. Riley raised their price target on Gentex from $42.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. StockNews.com raised Gentex from a “hold” rating to a “buy” rating in a report on Friday, February 23rd. Finally, JPMorgan Chase & Co. raised their price target on Gentex from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Gentex has a consensus rating of “Moderate Buy” and a consensus target price of $37.83.

Insider Buying and Selling

In related news, Director Richard O. Schaum sold 6,022 shares of Gentex stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $33.93, for a total value of $204,326.46. Following the transaction, the director now owns 62,555 shares of the company’s stock, valued at approximately $2,122,491.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Kevin C. Nash sold 13,500 shares of Gentex stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total value of $446,040.00. Following the transaction, the chief financial officer now owns 44,321 shares of the company’s stock, valued at approximately $1,464,365.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard O. Schaum sold 6,022 shares of Gentex stock in a transaction dated Thursday, February 1st. The stock was 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 approximately $2,122,491.15. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

Gentex Stock Up 0.2 %

NASDAQ:GNTX opened at $34.71 on Monday. The business’s 50-day moving average price is $35.67 and its 200 day moving average price is $33.10. The firm has a market cap of $8.03 billion, a P/E ratio of 18.86, a PEG ratio of 0.73 and a beta of 0.99. Gentex Co. has a 52-week low of $25.85 and a 52-week high of $37.58.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, April 26th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. The firm had revenue of $590.23 million for the quarter, compared to analyst estimates of $600.38 million. Gentex had a return on equity of 19.25% and a net margin of 18.63%. Gentex’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 earnings per share. Sell-side analysts expect that Gentex Co. will post 2.17 EPS for the current year.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Friday, April 5th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Thursday, April 4th. Gentex’s payout ratio is currently 26.09%.

Gentex 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.