New York State Common Retirement Fund Sells 23,608 Shares of Gentex Co. (NASDAQ:GNTX)

New York State Common Retirement Fund decreased its position in Gentex Co. (NASDAQ:GNTX) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 526,727 shares of the auto parts company’s stock after selling 23,608 shares during the period. New York State Common Retirement Fund’s holdings in Gentex were worth $17,203,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GNTX. 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 period. 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 period. 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 period. Lavaca Capital LLC acquired a new position in Gentex in the third quarter valued at about $206,000. Finally, Shakespeare Wealth Management Inc. acquired a new position in Gentex in the third quarter valued at about $209,000. Institutional investors own 86.76% of the company’s stock.

Gentex Price Performance

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

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

Gentex Dividend Announcement

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

Insider Buying and Selling at Gentex

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

Wall Street Analysts Forecast Growth

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

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.