New York State Common Retirement Fund Buys 104,582 Shares of Gentex Corporation $GNTX

New York State Common Retirement Fund boosted its stake in Gentex Corporation (NASDAQ:GNTX) by 97.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,504 shares of the auto parts company’s stock after purchasing an additional 104,582 shares during the quarter. New York State Common Retirement Fund owned about 0.10% of Gentex worth $5,986,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of GNTX. Royal Bank of Canada increased its holdings in shares of Gentex by 33.1% in the 1st quarter. Royal Bank of Canada now owns 189,561 shares of the auto parts company’s stock worth $4,418,000 after buying an additional 47,150 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Gentex by 1.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,321,634 shares of the auto parts company’s stock valued at $30,794,000 after acquiring an additional 23,454 shares during the last quarter. Empowered Funds LLC increased its stake in Gentex by 255.6% in the first quarter. Empowered Funds LLC now owns 81,142 shares of the auto parts company’s stock valued at $1,891,000 after acquiring an additional 58,323 shares during the last quarter. KLP Kapitalforvaltning AS raised its position in Gentex by 5.7% during the second quarter. KLP Kapitalforvaltning AS now owns 68,500 shares of the auto parts company’s stock valued at $1,506,000 after purchasing an additional 3,700 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Gentex by 11.2% during the second quarter. Blue Trust Inc. now owns 14,209 shares of the auto parts company’s stock worth $312,000 after purchasing an additional 1,426 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors.

Gentex Stock Down 1.5%

Shares of NASDAQ GNTX opened at $24.48 on Friday. The firm’s fifty day moving average is $23.67 and its 200 day moving average is $25.28. Gentex Corporation has a 52 week low of $20.28 and a 52 week high of $29.38. The company has a market cap of $5.36 billion, a price-to-earnings ratio of 14.07 and a beta of 0.78.

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

Gentex Announces Dividend

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

Analyst Upgrades and Downgrades

GNTX has been the topic of several recent research reports. B. Riley reduced their price objective on Gentex from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday. The Goldman Sachs Group set a $27.00 price target on shares of Gentex and gave the company a “neutral” rating in a research report on Monday, October 27th. Weiss Ratings restated a “hold (c)” rating on shares of Gentex in a report on Thursday, January 22nd. JPMorgan Chase & Co. upped their price objective on shares of Gentex from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, October 20th. Finally, Robert W. Baird set a $26.00 price target on shares of Gentex in a research note on Wednesday, January 14th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.71.

Gentex 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).