Gentex Co. (NASDAQ:GNTX) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 4.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 76,330 shares of the auto parts company’s stock after selling 3,700 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Gentex were worth $2,493,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of GNTX. Neo Ivy Capital Management purchased a new stake in Gentex during the fourth quarter worth approximately $29,000. National Bank of Canada FI grew its stake in Gentex by 159.1% during the fourth quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock worth $30,000 after buying an additional 571 shares during the period. VisionPoint Advisory Group LLC grew its stake in Gentex by 123.6% during the third 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 purchased a new stake in Gentex during the fourth quarter worth approximately $46,000. Finally, Global Retirement Partners LLC boosted its position in shares of Gentex by 371.3% in the fourth 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. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Insiders Place Their Bets

In other news, Director Joseph B. Anderson, Jr. sold 4,716 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $34.46, for a total value of $162,513.36. Following the completion of the sale, the director now directly owns 3,764 shares in the company, valued at approximately $129,707.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is currently owned by company insiders.

Gentex Trading Down 1.1 %

Gentex stock opened at $33.70 on Friday. Gentex Co. has a 52 week low of $27.04 and a 52 week high of $37.58. The stock has a market cap of $7.79 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 0.96 and a beta of 0.97. The stock has a 50 day moving average of $34.38 and a 200-day moving average of $34.19.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, April 26th. The auto parts company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The company had revenue of $590.23 million for the quarter, compared to the consensus estimate of $600.38 million. Gentex had a net margin of 18.77% and a return on equity of 19.19%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 earnings per share. As a group, equities analysts predict that Gentex Co. will post 2.11 earnings per share for the current fiscal year.

Gentex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 17th. Shareholders of record on Friday, July 5th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Friday, July 5th. Gentex’s payout ratio is currently 25.40%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. StockNews.com raised Gentex from a “hold” rating to a “buy” rating in a research report on Sunday, June 16th. B. Riley boosted their target price on shares of Gentex from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, Guggenheim raised their price target on shares of Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.83.

Gentex 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.