State of Alaska Department of Revenue Lowers Stake in Gentex Co. (NASDAQ:GNTX)

State of Alaska Department of Revenue trimmed its position in Gentex Co. (NASDAQ:GNTX) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,472 shares of the auto parts company’s stock after selling 815 shares during the quarter. State of Alaska Department of Revenue’s holdings in Gentex were worth $2,972,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Synergy Asset Management LLC purchased a new position in Gentex in the fourth quarter valued at approximately $34,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Gentex by 227.8% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock worth $54,000 after acquiring an additional 1,269 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Gentex in the 3rd quarter valued at $125,000. GAMMA Investing LLC lifted its stake in shares of Gentex by 159.1% during the fourth quarter. GAMMA Investing LLC now owns 5,133 shares of the auto parts company’s stock worth $147,000 after purchasing an additional 3,152 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Gentex by 13.3% during the third quarter. KBC Group NV now owns 5,664 shares of the auto parts company’s stock worth $168,000 after purchasing an additional 667 shares in the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Gentex Trading Up 0.1 %

GNTX opened at $25.06 on Monday. The business’s 50 day moving average is $28.39 and its 200-day moving average is $29.48. The stock has a market cap of $5.70 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 0.86 and a beta of 0.91. Gentex Co. has a twelve month low of $24.57 and a twelve month high of $37.58.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share 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 company posted $0.50 EPS. As a group, analysts forecast that Gentex Co. will post 2.04 EPS for the current year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, January 8th. This represents a $0.48 dividend on an annualized basis and a yield of 1.92%. Gentex’s dividend payout ratio is presently 27.27%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GNTX shares. Bank of America dropped their target price on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. JPMorgan Chase & Co. reduced their price target on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Robert W. Baird lifted their price target on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, October 28th. B. Riley reissued a “buy” rating and issued a $32.50 target price (down previously from $37.00) on shares of Gentex in a report on Monday, February 3rd. Finally, UBS Group lowered their target price on Gentex from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Gentex 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.