Louisiana State Employees Retirement System Sells 1,600 Shares of Gentex Co. (NASDAQ:GNTX)

Louisiana State Employees Retirement System reduced its position in Gentex Co. (NASDAQ:GNTX) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,800 shares of the auto parts company’s stock after selling 1,600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Gentex were worth $1,894,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. TD Asset Management Inc increased its holdings in Gentex by 41.2% in the 1st quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock valued at $168,957,000 after buying an additional 1,363,898 shares during the period. Cetera Investment Advisers grew its holdings in shares of Gentex by 91.0% during the 1st quarter. Cetera Investment Advisers now owns 127,876 shares of the auto parts company’s stock valued at $4,619,000 after purchasing an additional 60,934 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Gentex by 15.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 411,535 shares of the auto parts company’s stock valued at $14,865,000 after purchasing an additional 55,748 shares during the last quarter. BNP Paribas bought a new stake in shares of Gentex during the 1st quarter valued at approximately $1,073,000. Finally, Disciplined Growth Investors Inc. MN grew its holdings in shares of Gentex by 1.0% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 4,259,831 shares of the auto parts company’s stock valued at $143,599,000 after purchasing an additional 43,457 shares during the last quarter. 86.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday. B. Riley reduced their target price on shares of Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Monday, July 29th. BNP Paribas lowered shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 target price on the stock. in a report on Tuesday, July 30th. Bank of America reduced their price objective on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Finally, UBS Group began coverage on shares of Gentex in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price objective on the stock. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Gentex presently has a consensus rating of “Hold” and an average price target of $36.00.

Gentex Trading Down 0.7 %

GNTX opened at $31.11 on Thursday. The company’s fifty day moving average price is $29.99 and its two-hundred day moving average price is $32.12. Gentex Co. has a 1-year low of $28.25 and a 1-year high of $37.58. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 0.91 and a beta of 0.92.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.54%. Gentex’s dividend payout ratio is currently 25.40%.

Insider Activity

In other news, major shareholder Corp Gentex bought 3,152,500 shares of the stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the completion of the acquisition, the insider now directly owns 6,463,808 shares in the company, valued at approximately $32,319,040. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.41% of the stock is currently 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.