Gentex Co. (NASDAQ:GNTX) Position Trimmed by State of Michigan Retirement System

State of Michigan Retirement System lowered its stake in Gentex Co. (NASDAQ:GNTX) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 53,840 shares of the auto parts company’s stock after selling 800 shares during the period. State of Michigan Retirement System’s holdings in Gentex were worth $1,547,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of GNTX. Lindenwold Advisors INC grew its holdings in shares of Gentex by 2.8% in the 3rd quarter. Lindenwold Advisors INC now owns 12,539 shares of the auto parts company’s stock worth $372,000 after acquiring an additional 347 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in Gentex by 5.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,446 shares of the auto parts company’s stock worth $221,000 after purchasing an additional 408 shares in the last quarter. 180 Wealth Advisors LLC raised its holdings in Gentex by 0.7% during the 4th quarter. 180 Wealth Advisors LLC now owns 65,805 shares of the auto parts company’s stock worth $1,891,000 after buying an additional 437 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in Gentex by 6.5% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 7,445 shares of the auto parts company’s stock valued at $214,000 after buying an additional 457 shares in the last quarter. Finally, Intellectus Partners LLC boosted its holdings in shares of Gentex by 6.1% in the third quarter. Intellectus Partners LLC now owns 8,452 shares of the auto parts company’s stock worth $251,000 after buying an additional 484 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Price Performance

Shares of NASDAQ GNTX opened at $25.39 on Friday. Gentex Co. has a one year low of $23.63 and a one year high of $36.75. The business’s 50-day moving average price is $26.25 and its two-hundred day moving average price is $28.72. The company has a market capitalization of $5.77 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 0.84 and a beta of 0.90.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, January 31st. The auto parts company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.10). Gentex had a net margin of 17.49% and a return on equity of 16.74%. During the same period in the prior year, the firm posted $0.50 earnings per share. On average, equities analysts anticipate that Gentex Co. will post 2.04 EPS for the current year.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.89%. Gentex’s dividend payout ratio (DPR) is 27.27%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Guggenheim cut their price target on shares of Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Robert W. Baird set a $31.00 target price on shares of Gentex in a research note on Monday, February 3rd. JPMorgan Chase & Co. decreased their target price on Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. B. Riley reissued a “buy” rating and set a $32.50 price target (down from $37.00) on shares of Gentex in a research report on Monday, February 3rd. Finally, UBS Group reduced their price objective on Gentex from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Gentex has a consensus rating of “Hold” and an average price target of $32.31.

About Gentex

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.