Thrivent Financial for Lutherans Reduces Holdings in Gentex Corporation $GNTX

Thrivent Financial for Lutherans decreased its position in shares of Gentex Corporation (NASDAQ:GNTX) by 45.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 147,302 shares of the auto parts company’s stock after selling 124,669 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Gentex were worth $4,169,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Burgundy Asset Management Ltd. increased its position in Gentex by 3.1% during the second quarter. Burgundy Asset Management Ltd. now owns 7,964,555 shares of the auto parts company’s stock worth $175,141,000 after buying an additional 236,346 shares during the period. State Street Corp raised its position in Gentex by 1.0% in the 2nd quarter. State Street Corp now owns 7,439,333 shares of the auto parts company’s stock valued at $163,591,000 after purchasing an additional 74,779 shares during the last quarter. Ariel Investments LLC boosted its stake in Gentex by 3.9% during the 2nd quarter. Ariel Investments LLC now owns 7,359,272 shares of the auto parts company’s stock worth $161,830,000 after purchasing an additional 277,217 shares during the period. American Century Companies Inc. grew its position in Gentex by 60.5% during the 2nd quarter. American Century Companies Inc. now owns 6,611,258 shares of the auto parts company’s stock worth $145,382,000 after purchasing an additional 2,492,026 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Gentex by 0.4% in the second quarter. Geode Capital Management LLC now owns 5,681,405 shares of the auto parts company’s stock valued at $124,948,000 after purchasing an additional 20,795 shares during the period. 86.76% of the stock is owned by institutional investors and hedge funds.

Gentex Stock Performance

Shares of NASDAQ GNTX opened at $24.12 on Friday. Gentex Corporation has a one year low of $20.28 and a one year high of $29.38. The firm has a market capitalization of $5.28 billion, a P/E ratio of 13.86 and a beta of 0.78. The company’s fifty day moving average is $23.70 and its two-hundred day moving average is $25.30.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, January 30th. The auto parts company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The firm had revenue of $644.40 million during the quarter, compared to analysts’ expectations of $650.90 million. Gentex had a net margin of 15.19% and a return on equity of 16.05%. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.39 earnings per share. On average, sell-side analysts forecast that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Stockholders of record on Wednesday, January 7th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, January 7th. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. Gentex’s payout ratio is 27.59%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Gentex from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Gentex in a report on Thursday, January 22nd. B. Riley Financial lowered their price objective on shares of Gentex from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd. UBS Group set a $25.00 price objective on shares of Gentex in a research report on Monday, February 2nd. Finally, Robert W. Baird set a $26.00 target price on shares of Gentex in a research note on Wednesday, January 14th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Gentex currently has a consensus rating of “Hold” and a consensus target price of $26.71.

Gentex Company Profile

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).