Gentex Co. (NASDAQ:GNTX) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its holdings in Gentex Co. (NASDAQ:GNTX - Free Report) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 526,727 shares of the auto parts company's stock after selling 23,608 shares during the quarter. New York State Common Retirement Fund owned about 0.23% of Gentex worth $17,203,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in shares of Gentex by 95.4% during the third quarter. Wellington Management Group LLP now owns 6,823,022 shares of the auto parts company's stock valued at $222,021,000 after acquiring an additional 3,330,502 shares in the last quarter. Burgundy Asset Management Ltd. increased its holdings in Gentex by 2.5% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 3,843,342 shares of the auto parts company's stock worth $125,062,000 after buying an additional 93,104 shares in the last quarter. Schroder Investment Management Group increased its holdings in Gentex by 3.3% in the 3rd quarter. Schroder Investment Management Group now owns 2,356,505 shares of the auto parts company's stock worth $76,681,000 after buying an additional 76,071 shares in the last quarter. TD Asset Management Inc increased its holdings in Gentex by 1.3% in the 3rd quarter. TD Asset Management Inc now owns 2,096,479 shares of the auto parts company's stock worth $68,219,000 after buying an additional 27,279 shares in the last quarter. Finally, Epoch Investment Partners Inc. increased its holdings in Gentex by 1.9% in the 3rd quarter. Epoch Investment Partners Inc. now owns 1,951,077 shares of the auto parts company's stock worth $63,488,000 after buying an additional 36,461 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company's stock.

Gentex Stock Performance

NASDAQ:GNTX traded up $0.15 during trading hours on Monday, reaching $34.86. The stock had a trading volume of 2,087,319 shares, compared to its average volume of 1,432,445. Gentex Co. has a 52 week low of $25.86 and a 52 week high of $37.58. The company has a 50 day moving average price of $35.67 and a two-hundred day moving average price of $33.10. The stock has a market capitalization of $8.06 billion, a PE ratio of 18.37, a PEG ratio of 0.73 and a beta of 0.99.

Gentex (NASDAQ:GNTX - Get Free Report) last released its earnings results on Friday, April 26th. The auto parts company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. The firm had revenue of $590.23 million for the quarter, compared to the consensus estimate of $600.38 million. Gentex had a return on equity of 19.19% and a net margin of 18.77%. The company's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS. Equities research analysts predict that Gentex Co. will post 2.17 EPS for the current year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Friday, April 5th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Thursday, April 4th. Gentex's dividend payout ratio (DPR) is 25.40%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GNTX. Guggenheim lifted their price objective on Gentex from $40.00 to $41.00 and gave the stock a "buy" rating in a report on Wednesday, April 17th. B. Riley boosted their price target on Gentex from $42.00 to $44.00 and gave the company a "buy" rating in a research note on Wednesday, March 20th. The Goldman Sachs Group lifted their price objective on Gentex from $31.00 to $35.00 and gave the company a "neutral" rating in a research report on Monday, January 29th. JPMorgan Chase & Co. lifted their price objective on Gentex from $36.00 to $37.00 and gave the company a "neutral" rating in a research report on Thursday, January 25th. Finally, StockNews.com raised Gentex from a "hold" rating to a "buy" rating in a research report on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $37.83.

Insider Buying and Selling

In other Gentex news, CFO Kevin C. Nash sold 13,500 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total transaction of $446,040.00. Following the transaction, the chief financial officer now owns 44,321 shares in the company, valued at $1,464,365.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Kevin C. Nash sold 13,500 shares of Gentex stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total transaction of $446,040.00. Following the transaction, the chief financial officer now owns 44,321 shares in the company, valued at $1,464,365.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard O. Schaum sold 6,022 shares of the firm's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $33.93, for a total value of $204,326.46. Following the sale, the director now directly owns 62,555 shares of the company's stock, valued at approximately $2,122,491.15. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

Gentex Company 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.