Oregon Public Employees Retirement Fund reduced its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 8.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 96,563 shares of the auto parts company’s stock after selling 8,669 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Gentex were worth $2,798,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Man Group plc lifted its position in shares of Gentex by 142.3% during the 3rd quarter. Man Group plc now owns 534,330 shares of the auto parts company’s stock worth $14,713,000 after buying an additional 313,828 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in Gentex in the 3rd quarter worth about $10,338,000. Russell Investments Group Ltd. increased its holdings in Gentex by 397.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 458,316 shares of the auto parts company’s stock worth $12,623,000 after purchasing an additional 366,147 shares in the last quarter. Taylor Hoffman Wealth Management acquired a new position in Gentex in the 3rd quarter worth about $107,000. Finally, California Public Employees Retirement System increased its holdings in Gentex by 31.1% in the 3rd quarter. California Public Employees Retirement System now owns 616,780 shares of the auto parts company’s stock worth $16,983,000 after purchasing an additional 146,206 shares in the last quarter. Institutional investors and hedge funds own 79.78% of the company’s stock.
In other news, Director James H. Wallace sold 12,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $30.06, for a total value of $360,720.00. Following the completion of the sale, the director now owns 33,803 shares of the company’s stock, valued at $1,016,118.18. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.37% of the company’s stock.
A number of brokerages have issued reports on GNTX. Zacks Investment Research cut Gentex from a “hold” rating to a “sell” rating and set a $31.00 target price for the company. in a report on Tuesday, December 24th. B. Riley reaffirmed a “buy” rating and issued a $35.00 target price on shares of Gentex in a report on Thursday, December 19th. Cfra upped their target price on Gentex from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Guggenheim set a $31.00 target price on Gentex and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, ValuEngine cut Gentex from a “hold” rating to a “sell” rating in a report on Tuesday, February 4th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $32.33.
Shares of GNTX opened at $30.40 on Friday. Gentex Co. has a 12-month low of $19.82 and a 12-month high of $31.27. The business has a 50-day simple moving average of $30.06 and a two-hundred day simple moving average of $28.29. The stock has a market cap of $7.74 billion, a PE ratio of 18.55, a PEG ratio of 3.46 and a beta of 1.12.
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, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $443.84 million during the quarter, compared to analysts’ expectations of $445.94 million. Gentex had a return on equity of 22.29% and a net margin of 22.85%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 EPS. As a group, equities analysts forecast that Gentex Co. will post 1.76 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th were paid a $0.115 dividend. The ex-dividend date was Tuesday, January 7th. This represents a $0.46 annualized dividend and a dividend yield of 1.51%. Gentex’s payout ratio is 27.71%.
Gentex Company Profile
Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It designs, develops, manufactures, and markets 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, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.
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