Teacher Retirement System of Texas Buys 15,938 Shares of Gentex Corporation (NASDAQ:GNTX)

Teacher Retirement System of Texas raised its holdings in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 7.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 225,180 shares of the auto parts company's stock after acquiring an additional 15,938 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.10% of Gentex worth $5,247,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in GNTX. TD Private Client Wealth LLC boosted its holdings in shares of Gentex by 138.8% in the 4th quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company's stock valued at $33,000 after buying an additional 662 shares during the last quarter. Harbor Investment Advisory LLC lifted its holdings in Gentex by 208.2% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,618 shares of the auto parts company's stock valued at $38,000 after purchasing an additional 1,093 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Gentex by 103.3% during the first quarter. UMB Bank n.a. now owns 2,124 shares of the auto parts company's stock worth $49,000 after buying an additional 1,079 shares in the last quarter. NBC Securities Inc. lifted its holdings in shares of Gentex by 268,600.0% during the first quarter. NBC Securities Inc. now owns 2,687 shares of the auto parts company's stock worth $62,000 after buying an additional 2,686 shares in the last quarter. Finally, LRI Investments LLC lifted its holdings in shares of Gentex by 33.2% during the fourth quarter. LRI Investments LLC now owns 2,750 shares of the auto parts company's stock worth $79,000 after buying an additional 686 shares in the last quarter. 86.76% of the stock is owned by institutional investors.

Gentex Stock Down 1.6%

GNTX traded down $0.38 during trading on Monday, hitting $22.75. The company's stock had a trading volume of 1,941,228 shares, compared to its average volume of 2,249,435. Gentex Corporation has a twelve month low of $20.28 and a twelve month high of $35.32. The stock's fifty day moving average price is $22.00 and its 200-day moving average price is $23.99. The firm has a market capitalization of $5.11 billion, a P/E ratio of 13.30, a PEG ratio of 1.14 and a beta of 0.81.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The auto parts company reported $0.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.43. Gentex had a return on equity of 16.11% and a net margin of 17.01%. The firm had revenue of $576.77 million for the quarter, compared to analyst estimates of $578.68 million. During the same period in the previous year, the firm earned $0.47 earnings per share. The company's revenue was down 2.3% compared to the same quarter last year. Equities research analysts expect that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.11%. The ex-dividend date is Wednesday, July 9th. Gentex's dividend payout ratio (DPR) is presently 28.07%.

Insider Transactions at Gentex

In other news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $22.87, for a total transaction of $86,082.68. Following the transaction, the director directly owned 5,939 shares of the company's stock, valued at $135,824.93. This represents a 38.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.45% of the company's stock.

Wall Street Analysts Forecast Growth

GNTX has been the subject of a number of analyst reports. UBS Group dropped their price target on Gentex from $29.00 to $21.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. The Goldman Sachs Group dropped their price target on Gentex from $28.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Guggenheim dropped their price target on Gentex from $30.00 to $24.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Robert W. Baird reiterated a "neutral" rating and issued a $25.00 target price (down previously from $31.00) on shares of Gentex in a research report on Tuesday, April 15th. Finally, Baird R W cut Gentex from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $28.31.

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.