Arizona State Retirement System Has $1.87 Million Stock Holdings in Gentex Co. (NASDAQ:GNTX)

Arizona State Retirement System lessened its position in shares of Gentex Co. (NASDAQ:GNTX – Get Rating) by 0.6% during the 1st quarter, HoldingsChannel reports. The fund owned 63,935 shares of the auto parts company’s stock after selling 379 shares during the quarter. Arizona State Retirement System’s holdings in Gentex were worth $1,865,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. EdgePoint Investment Group Inc. lifted its stake in Gentex by 97.9% in the fourth quarter. EdgePoint Investment Group Inc. now owns 7,793,008 shares of the auto parts company’s stock valued at $271,586,000 after buying an additional 3,856,036 shares during the period. State Street Corp lifted its stake in Gentex by 1.0% in the fourth quarter. State Street Corp now owns 6,314,445 shares of the auto parts company’s stock valued at $220,058,000 after buying an additional 65,579 shares during the period. Ceredex Value Advisors LLC lifted its stake in Gentex by 24.2% in the fourth quarter. Ceredex Value Advisors LLC now owns 4,264,938 shares of the auto parts company’s stock valued at $148,633,000 after buying an additional 830,321 shares during the period. Ariel Investments LLC lifted its stake in Gentex by 30.5% in the fourth quarter. Ariel Investments LLC now owns 4,248,656 shares of the auto parts company’s stock valued at $148,065,000 after buying an additional 992,611 shares during the period. Finally, Cooke & Bieler LP lifted its stake in Gentex by 0.6% in the fourth quarter. Cooke & Bieler LP now owns 3,865,907 shares of the auto parts company’s stock valued at $134,727,000 after buying an additional 22,570 shares during the period. Institutional investors and hedge funds own 86.24% of the company’s stock.

Gentex Stock Performance

NASDAQ:GNTX opened at $28.22 on Monday. The company has a market cap of $6.62 billion, a PE ratio of 20.90, a PEG ratio of 1.52 and a beta of 0.91. Gentex Co. has a 52-week low of $26.16 and a 52-week high of $37.90. The stock has a 50-day simple moving average of $28.82 and a 200 day simple moving average of $29.49.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 20th. Investors of record on Friday, July 8th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, July 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.70%. Gentex’s payout ratio is presently 35.56%.

Wall Street Analysts Forecast Growth

GNTX has been the topic of several analyst reports. B. Riley cut their target price on Gentex from $37.50 to $35.00 and set a “buy” rating on the stock in a research note on Monday, July 25th. BNP Paribas began coverage on Gentex in a research report on Monday, April 11th. They set an “outperform” rating on the stock. Guggenheim dropped their price target on Gentex to $33.00 in a research report on Monday, July 25th. Robert W. Baird raised their price target on Gentex from $33.00 to $34.00 in a research report on Monday, April 25th. Finally, Jefferies Financial Group dropped their price target on Gentex from $36.00 to $33.00 and set a “maintains” rating on the stock in a research report on Monday, July 25th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, Gentex has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Insider Buying and Selling

In related news, Director Gary F. Goode sold 2,845 shares of the stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $30.17, for a total transaction of $85,833.65. Following the completion of the transaction, the director now directly owns 27,861 shares in the company, valued at $840,566.37. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.16% of the stock is owned by corporate insiders.

Gentex Company Profile

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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.