State of Tennessee Treasury Department Trims Stake in Gentex Co. (NASDAQ:GNTX)

State of Tennessee Treasury Department lowered its position in Gentex Co. (NASDAQ:GNTX) by 7.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,554 shares of the auto parts company’s stock after selling 3,276 shares during the quarter. State of Tennessee Treasury Department’s holdings in Gentex were worth $1,411,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Amundi Pioneer Asset Management Inc. grew its position in Gentex by 1.7% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 149,220 shares of the auto parts company’s stock worth $3,086,000 after buying an additional 2,536 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Gentex by 14.7% during the fourth quarter. Victory Capital Management Inc. now owns 448,980 shares of the auto parts company’s stock worth $15,234,000 after purchasing an additional 57,405 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Gentex by 3.8% during the fourth quarter. California Public Employees Retirement System now owns 586,275 shares of the auto parts company’s stock worth $19,892,000 after purchasing an additional 21,229 shares in the last quarter. Treasurer of the State of North Carolina increased its position in shares of Gentex by 0.3% in the fourth quarter. Treasurer of the State of North Carolina now owns 94,017 shares of the auto parts company’s stock worth $3,190,000 after purchasing an additional 320 shares during the last quarter. Finally, Sigma Investment Counselors Inc. raised its stake in Gentex by 101.8% in the fourth quarter. Sigma Investment Counselors Inc. now owns 103,621 shares of the auto parts company’s stock valued at $3,516,000 after purchasing an additional 52,266 shares in the last quarter. Institutional investors own 82.22% of the company’s stock.

In other Gentex news, CTO Neil Boehm sold 2,053 shares of the business’s stock in a transaction that occurred on Wednesday, March 31st. The stock was sold at an average price of $35.66, for a total value of $73,209.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Matthew Chiodo sold 6,851 shares of the stock in a transaction that occurred on Wednesday, March 31st. The shares were sold at an average price of $35.66, for a total value of $244,306.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,405 shares of company stock worth $995,906. Company insiders own 0.38% of the company’s stock.

Shares of GNTX opened at $34.12 on Friday. Gentex Co. has a 1 year low of $24.69 and a 1 year high of $37.75. The stock has a 50 day moving average price of $35.18. The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of 22.60, a P/E/G ratio of 1.71 and a beta of 1.08.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Thursday, April 22nd. The auto parts company reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.03). The business had revenue of $483.70 million during the quarter, compared to analysts’ expectations of $498.37 million. Gentex had a net margin of 21.62% and a return on equity of 19.81%. Gentex’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the company posted $0.36 EPS. On average, sell-side analysts predict that Gentex Co. will post 1.99 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 21st. Stockholders of record on Friday, July 9th will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, July 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.41%. Gentex’s dividend payout ratio (DPR) is currently 34.04%.

Separately, B. Riley increased their price target on shares of Gentex from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, April 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $33.14.

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, 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.

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Institutional Ownership by Quarter for Gentex (NASDAQ:GNTX)

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