New York State Teachers Retirement System Cuts Holdings in Gentex Co. (NASDAQ:GNTX)

New York State Teachers Retirement System lessened its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 9.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 226,471 shares of the auto parts company’s stock after selling 22,700 shares during the period. New York State Teachers Retirement System owned approximately 0.10% of Gentex worth $6,724,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GNTX. Wealth Enhancement Advisory Services LLC increased its stake in Gentex by 38.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 26,750 shares of the auto parts company’s stock valued at $966,000 after purchasing an additional 7,449 shares in the last quarter. Private Advisor Group LLC grew its position in shares of Gentex by 3.7% in the first quarter. Private Advisor Group LLC now owns 19,768 shares of the auto parts company’s stock valued at $714,000 after purchasing an additional 704 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Gentex during the 1st quarter worth approximately $196,000. GSA Capital Partners LLP acquired a new position in shares of Gentex during the 1st quarter worth approximately $842,000. Finally, Chevy Chase Trust Holdings LLC grew its holdings in Gentex by 1.3% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 83,695 shares of the auto parts company’s stock valued at $3,023,000 after buying an additional 1,048 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Insider Buying and Selling at Gentex

In other Gentex news, major shareholder Corp Gentex purchased 3,152,500 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $5.00 per share, with a total value of $15,762,500.00. Following the acquisition, the insider now owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.41% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GNTX. Robert W. Baird lifted their price objective on Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Bank of America dropped their price objective on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, October 14th. B. Riley dropped their price target on Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Monday, July 29th. BNP Paribas lowered Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research note on Tuesday, July 30th. Finally, The Goldman Sachs Group dropped their target price on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Gentex presently has a consensus rating of “Hold” and an average price target of $36.00.

Gentex Stock Performance

NASDAQ:GNTX opened at $30.09 on Tuesday. The company has a market capitalization of $6.93 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 0.98 and a beta of 0.91. Gentex Co. has a one year low of $28.30 and a one year high of $37.58. The stock has a 50-day simple moving average of $29.95 and a 200 day simple moving average of $32.04.

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Wednesday, October 9th. Gentex’s dividend payout ratio is presently 25.67%.

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.