New York State Teachers Retirement System Has $5.83 Million Stake in Gentex Corporation $GNTX

New York State Teachers Retirement System lifted its position in shares of Gentex Corporation (NASDAQ:GNTX – Free Report) by 19.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 250,597 shares of the auto parts company’s stock after acquiring an additional 40,426 shares during the quarter. New York State Teachers Retirement System’s holdings in Gentex were worth $5,831,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP boosted its holdings in shares of Gentex by 10.3% during the 3rd quarter. Wellington Management Group LLP now owns 14,828,120 shares of the auto parts company’s stock valued at $419,636,000 after acquiring an additional 1,383,203 shares in the last quarter. State Street Corp boosted its holdings in shares of Gentex by 1.0% during the 2nd quarter. State Street Corp now owns 7,439,333 shares of the auto parts company’s stock valued at $163,591,000 after acquiring an additional 74,779 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Gentex by 2.0% during the 3rd quarter. American Century Companies Inc. now owns 6,742,293 shares of the auto parts company’s stock valued at $190,807,000 after acquiring an additional 131,035 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Gentex by 21.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,725,426 shares of the auto parts company’s stock valued at $190,330,000 after acquiring an additional 1,206,060 shares in the last quarter. Finally, Boston Partners boosted its holdings in shares of Gentex by 2.1% during the 3rd quarter. Boston Partners now owns 5,912,491 shares of the auto parts company’s stock valued at $167,299,000 after acquiring an additional 123,731 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on GNTX shares. Robert W. Baird lifted their target price on Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Freedom Capital raised Gentex to a “strong-buy” rating in a report on Friday, March 27th. B. Riley Financial reaffirmed a “buy” rating and set a $29.00 target price (up from $28.00) on shares of Gentex in a report on Monday, April 27th. Wall Street Zen raised Gentex from a “hold” rating to a “buy” rating in a report on Sunday, March 8th. Finally, JPMorgan Chase & Co. cut their target price on Gentex from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $26.67.

Get Our Latest Research Report on Gentex

Gentex Trading Up 2.7%

Shares of GNTX opened at $23.55 on Thursday. The company has a market capitalization of $5.03 billion, a PE ratio of 13.23 and a beta of 0.78. Gentex Corporation has a 12 month low of $20.48 and a 12 month high of $29.38. The stock’s 50-day moving average price is $22.23 and its two-hundred day moving average price is $23.20.

Gentex (NASDAQ:GNTX – Get Free Report) last announced its quarterly earnings data on Friday, April 24th. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. The company had revenue of $675.44 million for the quarter, compared to the consensus estimate of $649.42 million. Gentex had a return on equity of 16.27% and a net margin of 14.75%.The firm’s revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. Equities research analysts predict that Gentex Corporation will post 1.92 EPS for the current fiscal year.

Gentex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, April 8th. Gentex’s payout ratio is currently 26.97%.

Insiders Place Their Bets

In other news, CTO Neil Boehm sold 11,248 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $24.82, for a total value of $279,175.36. Following the transaction, the chief technology officer directly owned 58,951 shares of the company’s stock, valued at $1,463,163.82. The trade was a 16.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin C. Nash sold 11,885 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $24.98, for a total value of $296,887.30. Following the completion of the transaction, the chief financial officer directly owned 59,430 shares in the company, valued at $1,484,561.40. This represents a 16.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 62,948 shares of company stock valued at $1,554,550 over the last 90 days. 0.55% of the stock is owned by company insiders.

Gentex Company Profile

(Free Report)

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).

Further Reading

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