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

New York State Teachers Retirement System lowered its stake in Gentex Co. (NASDAQ:GNTX) by 3.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 219,571 shares of the auto parts company’s stock after selling 6,900 shares during the quarter. New York State Teachers Retirement System’s holdings in Gentex were worth $6,308,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Lindenwold Advisors INC grew its stake 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 buying an additional 347 shares during the last quarter. Coldstream Capital Management Inc. lifted its position 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 valued at $221,000 after acquiring an additional 408 shares in the last quarter. 180 Wealth Advisors LLC lifted its position in Gentex by 0.7% in the 4th quarter. 180 Wealth Advisors LLC now owns 65,805 shares of the auto parts company’s stock valued at $1,891,000 after acquiring an additional 437 shares in the last quarter. Intellectus Partners LLC lifted its position in Gentex by 6.1% in the 3rd quarter. Intellectus Partners LLC now owns 8,452 shares of the auto parts company’s stock valued at $251,000 after acquiring an additional 484 shares in the last quarter. Finally, Atria Investments Inc lifted its position in Gentex by 2.0% in the 3rd quarter. Atria Investments Inc now owns 28,940 shares of the auto parts company’s stock valued at $859,000 after acquiring an additional 577 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Trading Down 1.5 %

Shares of GNTX stock opened at $24.41 on Thursday. Gentex Co. has a 12-month low of $24.20 and a 12-month high of $37.58. The stock’s 50-day moving average price is $27.59 and its 200-day moving average price is $29.14. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 0.84 and a beta of 0.91.

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

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, January 8th. This represents a $0.48 annualized dividend and a yield of 1.97%. Gentex’s payout ratio is currently 27.27%.

Analyst Ratings Changes

Several equities analysts recently issued reports on GNTX shares. Robert W. Baird upped 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. B. Riley reaffirmed a “buy” rating and issued a $32.50 price objective (down from $37.00) on shares of Gentex in a research report on Monday, February 3rd. JPMorgan Chase & Co. lowered their price target on Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. UBS Group lowered their price target on Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Finally, Guggenheim lowered their price target on Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $33.06.

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.