California State Teachers Retirement System lifted its holdings in Gentex Corporation (NASDAQ:GNTX - Free Report) by 25.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 260,762 shares of the auto parts company's stock after acquiring an additional 52,961 shares during the period. California State Teachers Retirement System owned approximately 0.12% of Gentex worth $5,698,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in GNTX. Bank of Montreal Can raised its holdings in shares of Gentex by 14,398.7% during the fourth quarter. Bank of Montreal Can now owns 7,726,057 shares of the auto parts company's stock valued at $179,785,000 after purchasing an additional 7,672,769 shares during the period. Caisse de depot et placement du Quebec increased its position in Gentex by 297.0% in the 4th quarter. Caisse de depot et placement du Quebec now owns 3,144,881 shares of the auto parts company's stock valued at $73,181,000 after buying an additional 2,352,668 shares in the last quarter. Norges Bank bought a new stake in Gentex in the 4th quarter valued at about $52,767,000. Wellington Management Group LLP raised its stake in 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 worth $419,636,000 after buying an additional 1,383,203 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Gentex by 25.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,629,380 shares of the auto parts company's stock worth $154,271,000 after buying an additional 1,349,445 shares during the period. 86.76% of the stock is owned by institutional investors and hedge funds.
Gentex Stock Performance
NASDAQ:GNTX opened at $23.54 on Friday. Gentex Corporation has a 52 week low of $20.48 and a 52 week high of $29.38. The firm has a 50-day moving average price of $24.52 and a two-hundred day moving average price of $23.49. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 12.46 and a beta of 0.79.
Gentex (NASDAQ:GNTX - Get Free Report) last released its earnings results on Friday, July 24th. The auto parts company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.08. The company had revenue of $651.30 million during the quarter, compared to analyst estimates of $669.65 million. Gentex had a return on equity of 16.78% and a net margin of 15.50%.Gentex's quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 earnings per share. As a group, sell-side analysts forecast that Gentex Corporation will post 1.99 earnings per share for the current year.
Gentex Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th were issued 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, July 8th. Gentex's payout ratio is 25.40%.
Insider Activity
In other Gentex news, Director Brian C. Walker sold 5,939 shares of Gentex stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $22.98, for a total value of $136,478.22. Following the sale, the director owned 24,205 shares of the company's stock, valued at approximately $556,230.90. The trade was a 19.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph B. Anderson, Jr. sold 5,939 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. The SEC filing for this sale provides additional information. 0.55% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
GNTX has been the topic of a number of research reports. Freedom Capital lowered Gentex from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 29th. Wall Street Zen downgraded shares of Gentex from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. JPMorgan Chase & Co. boosted their price target on shares of Gentex from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. Weiss Ratings upgraded shares of Gentex from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, June 23rd. Finally, Robert W. Baird raised their price objective on shares of Gentex from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $27.00.
View Our Latest Report on Gentex
About Gentex
(
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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