New York State Teachers Retirement System Sells 16,000 Shares of Gentex Co. (NASDAQ:GNTX)

New York State Teachers Retirement System lowered its position in shares of Gentex Co. (NASDAQ:GNTX) by 6.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 249,171 shares of the auto parts company’s stock after selling 16,000 shares during the quarter. New York State Teachers Retirement System owned about 0.11% of Gentex worth $8,400,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. LaFleur & Godfrey LLC grew its position in shares of Gentex by 1.0% during the 2nd quarter. LaFleur & Godfrey LLC now owns 173,051 shares of the auto parts company’s stock worth $5,834,000 after buying an additional 1,663 shares during the period. Scharf Investments LLC grew its holdings in Gentex by 36,001.4% in the second quarter. Scharf Investments LLC now owns 2,278,357 shares of the auto parts company’s stock worth $76,803,000 after purchasing an additional 2,272,046 shares during the period. Fifth Third Wealth Advisors LLC acquired a new position in shares of Gentex during the second quarter valued at about $254,000. West Coast Financial LLC boosted its position in shares of Gentex by 0.4% during the 2nd quarter. West Coast Financial LLC now owns 212,829 shares of the auto parts company’s stock worth $7,174,000 after purchasing an additional 936 shares in the last quarter. Finally, First Citizens Bank & Trust Co. grew its stake in shares of Gentex by 20.9% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 18,071 shares of the auto parts company’s stock valued at $609,000 after buying an additional 3,129 shares during the period. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Gentex Price Performance

NASDAQ GNTX opened at $31.21 on Friday. The business’s fifty day moving average is $32.14 and its 200-day moving average is $34.10. Gentex Co. has a one year low of $27.86 and a one year high of $37.58. The stock has a market capitalization of $7.22 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 0.91 and a beta of 0.93.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, July 26th. The auto parts company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.15). The business had revenue of $572.93 million during the quarter, compared to the consensus estimate of $623.28 million. Gentex had a return on equity of 17.78% and a net margin of 17.87%. Research analysts expect that Gentex Co. will post 2.02 EPS for the current fiscal year.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 17th. Investors of record on Friday, July 5th were paid a $0.12 dividend. The ex-dividend date was Friday, July 5th. This represents a $0.48 annualized dividend and a dividend yield of 1.54%. Gentex’s payout ratio is presently 25.40%.

Analyst Ratings Changes

A number of research analysts recently weighed in on GNTX shares. Robert W. Baird dropped their price target on Gentex from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. JPMorgan Chase & Co. cut their target price on Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. B. Riley decreased their price target on shares of Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Monday, July 29th. StockNews.com lowered shares of Gentex from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. Finally, BNP Paribas downgraded shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 target price for the company. in a research report on Tuesday, July 30th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $37.33.

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.