State of New Jersey Common Pension Fund D Has $3.54 Million Stock Position in Gentex Co. (NASDAQ:GNTX)

State of New Jersey Common Pension Fund D trimmed its position in Gentex Co. (NASDAQ:GNTX) by 13.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 108,353 shares of the auto parts company’s stock after selling 17,027 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Gentex were worth $3,539,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. VisionPoint Advisory Group LLC grew its position in shares of Gentex by 123.6% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,203 shares of the auto parts company’s stock worth $39,000 after buying an additional 665 shares during the period. GAMMA Investing LLC acquired a new position in shares of Gentex during the 4th quarter worth about $46,000. Global Retirement Partners LLC grew its position in shares of Gentex by 371.3% during the 4th quarter. Global Retirement Partners LLC now owns 2,738 shares of the auto parts company’s stock worth $89,000 after buying an additional 2,157 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Gentex by 283.3% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,066 shares of the auto parts company’s stock worth $100,000 after buying an additional 2,266 shares during the period. Finally, Lavaca Capital LLC acquired a new position in shares of Gentex during the 3rd quarter worth about $206,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Gentex

In other news, Director Richard O. Schaum sold 6,022 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $33.93, for a total transaction of $204,326.46. Following the sale, the director now owns 62,555 shares in the company, valued at approximately $2,122,491.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Richard O. Schaum sold 6,022 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $33.93, for a total transaction of $204,326.46. Following the sale, the director now owns 62,555 shares in the company, valued at approximately $2,122,491.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kevin C. Nash sold 13,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total value of $446,040.00. Following the sale, the chief financial officer now owns 44,321 shares in the company, valued at approximately $1,464,365.84. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Gentex Stock Performance

NASDAQ GNTX opened at $34.71 on Friday. The stock has a market capitalization of $8.03 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 0.73 and a beta of 0.99. The stock’s 50 day moving average price is $35.67 and its two-hundred day moving average price is $33.09. Gentex Co. has a 52 week low of $25.85 and a 52 week high of $37.58.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, April 26th. The auto parts company reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. The firm had revenue of $590.23 million for the quarter, compared to analysts’ expectations of $600.38 million. Gentex had a return on equity of 19.25% and a net margin of 18.63%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 EPS. On average, equities research analysts forecast that Gentex Co. will post 2.17 EPS for the current year.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Friday, April 5th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Thursday, April 4th. Gentex’s dividend payout ratio is currently 26.09%.

Analyst Upgrades and Downgrades

GNTX has been the subject of several research analyst reports. B. Riley boosted their price objective on Gentex from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group boosted their price objective on Gentex from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. JPMorgan Chase & Co. boosted their price objective on Gentex from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. StockNews.com upgraded Gentex from a “hold” rating to a “buy” rating in a research report on Friday, February 23rd. Finally, Guggenheim boosted their price objective on Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.83.

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.