Mutual of America Capital Management LLC Sells 7,605 Shares of Gentex Co. (NASDAQ:GNTX)

Mutual of America Capital Management LLC cut its stake in Gentex Co. (NASDAQ:GNTX) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 144,160 shares of the auto parts company’s stock after selling 7,605 shares during the period. Mutual of America Capital Management LLC’s holdings in Gentex were worth $4,708,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Merit Financial Group LLC bought a new position in shares of Gentex in the third quarter worth about $618,000. IFG Advisory LLC raised its stake in shares of Gentex by 85.1% in the fourth quarter. IFG Advisory LLC now owns 129,203 shares of the auto parts company’s stock worth $4,220,000 after acquiring an additional 59,407 shares during the last quarter. New York Life Investment Management LLC raised its stake in shares of Gentex by 112.3% during the third quarter. New York Life Investment Management LLC now owns 24,876 shares of the auto parts company’s stock worth $809,000 after buying an additional 13,161 shares during the last quarter. Jump Financial LLC raised its stake in shares of Gentex by 130.7% during the third quarter. Jump Financial LLC now owns 123,805 shares of the auto parts company’s stock worth $4,029,000 after buying an additional 70,138 shares during the last quarter. Finally, Epoch Investment Partners Inc. raised its stake in shares of Gentex by 1.9% during the third quarter. Epoch Investment Partners Inc. now owns 1,951,077 shares of the auto parts company’s stock worth $63,488,000 after buying an additional 36,461 shares during the last quarter. 86.76% of the stock is owned by institutional investors.

Gentex Stock Down 0.9 %

Gentex stock opened at $33.94 on Tuesday. The stock has a market capitalization of $7.85 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 0.72 and a beta of 0.99. Gentex Co. has a twelve month low of $25.85 and a twelve month high of $37.58. The company has a 50 day moving average of $35.80 and a 200-day moving average of $32.95.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, January 26th. The auto parts company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.06. The company had revenue of $589.13 million during the quarter, compared to analysts’ expectations of $563.42 million. Gentex had a net margin of 18.63% and a return on equity of 19.25%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.37 earnings per share. Equities analysts anticipate that Gentex Co. will post 2.16 EPS for the current fiscal year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 17th. Stockholders of record on Friday, April 5th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Thursday, April 4th. Gentex’s dividend payout ratio (DPR) is presently 26.09%.

Insider Activity

In other news, CFO Kevin C. Nash sold 13,500 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total value of $446,040.00. Following the sale, the chief financial officer now owns 44,321 shares of the company’s stock, valued at $1,464,365.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Richard O. Schaum sold 6,022 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $33.93, for a total value of $204,326.46. Following the sale, the director now owns 62,555 shares of the company’s stock, valued at $2,122,491.15. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Kevin C. Nash sold 13,500 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total transaction of $446,040.00. Following the completion of the sale, the chief financial officer now directly owns 44,321 shares in the company, valued at approximately $1,464,365.84. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Gentex from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. StockNews.com raised shares of Gentex from a “hold” rating to a “buy” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. boosted their price target on shares of Gentex from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. B. Riley boosted their price target on shares of Gentex from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, Guggenheim boosted their price objective on shares of Gentex from $38.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.67.

Gentex Company 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.