Gentex Co. (NASDAQ:GNTX) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury lowered its position in shares of Gentex Co. (NASDAQ:GNTX) by 2.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,912 shares of the auto parts company’s stock after selling 2,481 shares during the period. State of Tennessee Department of Treasury’s holdings in Gentex were worth $2,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Midwest Capital Advisors LLC acquired a new stake in Gentex during the fourth quarter worth $26,000. TD Private Client Wealth LLC grew its holdings in shares of Gentex by 138.8% during the 4th quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company’s stock worth $33,000 after purchasing an additional 662 shares during the period. Synergy Asset Management LLC purchased a new stake in Gentex in the 4th quarter valued at about $34,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in Gentex by 32.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,419 shares of the auto parts company’s stock valued at $70,000 after buying an additional 593 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in Gentex during the fourth quarter worth about $96,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GNTX shares. The Goldman Sachs Group decreased their price objective on shares of Gentex from $28.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Robert W. Baird restated a “neutral” rating and set a $25.00 price target (down from $31.00) on shares of Gentex in a research note on Tuesday, April 15th. Baird R W cut Gentex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. B. Riley reissued a “buy” rating and set a $32.50 target price (down previously from $37.00) on shares of Gentex in a research note on Monday, February 3rd. Finally, UBS Group dropped their target price on Gentex from $29.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $28.31.

Gentex Stock Performance

Shares of Gentex stock opened at $21.36 on Monday. The business has a 50-day simple moving average of $23.23 and a 200-day simple moving average of $26.85. Gentex Co. has a one year low of $20.28 and a one year high of $35.33. The company has a market cap of $4.83 billion, a PE ratio of 12.14, a P/E/G ratio of 0.84 and a beta of 0.84.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, April 25th. The auto parts company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. Gentex had a net margin of 17.49% and a return on equity of 16.74%. The company had revenue of $576.77 million during the quarter, compared to analysts’ expectations of $578.68 million. During the same quarter in the previous year, the business posted $0.47 EPS. On average, sell-side analysts predict that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Wednesday, April 9th. Gentex’s dividend payout ratio is presently 28.07%.

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.