New York State Teachers Retirement System Sells 6,900 Shares of Gentex Co. (NASDAQ:GNTX)

New York State Teachers Retirement System lessened its stake in Gentex Co. (NASDAQ:GNTX) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 219,571 shares of the auto parts company’s stock after selling 6,900 shares during the quarter. New York State Teachers Retirement System owned approximately 0.10% of Gentex worth $6,308,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Gentex by 179.7% in the third quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company’s stock valued at $59,404,000 after purchasing an additional 1,285,519 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Gentex by 5.6% in the third quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company’s stock valued at $159,406,000 after purchasing an additional 285,802 shares in the last quarter. Barclays PLC lifted its holdings in Gentex by 54.4% during the third quarter. Barclays PLC now owns 107,930 shares of the auto parts company’s stock worth $3,205,000 after acquiring an additional 38,027 shares during the period. Reinhart Partners LLC. lifted its holdings in Gentex by 1.9% during the fourth quarter. Reinhart Partners LLC. now owns 1,124,403 shares of the auto parts company’s stock worth $32,304,000 after acquiring an additional 20,624 shares during the period. Finally, Hendershot Investments Inc. lifted its holdings in Gentex by 3.8% during the fourth quarter. Hendershot Investments Inc. now owns 659,066 shares of the auto parts company’s stock worth $18,935,000 after acquiring an additional 24,231 shares during the period. Institutional investors own 86.76% of the company’s stock.

Gentex Trading Down 1.5 %

NASDAQ GNTX opened at $24.41 on Thursday. Gentex Co. has a 1-year low of $24.20 and a 1-year high of $37.58. The stock has a 50-day moving average of $27.59 and a 200-day moving average of $29.14. The firm has a market cap of $5.55 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 0.84 and a beta of 0.91.

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

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, January 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.97%. Gentex’s dividend payout ratio (DPR) is 27.27%.

Analyst Ratings Changes

A number of brokerages recently commented on GNTX. Robert W. Baird lifted their price target on Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. JPMorgan Chase & Co. dropped their price target on Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. UBS Group dropped their price target on Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Guggenheim decreased their target price on Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Finally, B. Riley reissued a “buy” rating and issued a $32.50 target price (down from $37.00) on shares of Gentex in a research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $33.06.

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.