New York State Common Retirement Fund Lowers Holdings in Gentex Co. (NASDAQ:GNTX)

New York State Common Retirement Fund lessened its holdings in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 7.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 338,922 shares of the auto parts company's stock after selling 27,200 shares during the quarter. New York State Common Retirement Fund owned about 0.15% of Gentex worth $9,737,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in 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 acquiring an additional 1,285,519 shares in the last quarter. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 285,802 shares in the last quarter. Barclays PLC raised its holdings in Gentex by 54.4% in the third quarter. Barclays PLC now owns 107,930 shares of the auto parts company's stock valued at $3,205,000 after acquiring an additional 38,027 shares in the last quarter. Reinhart Partners LLC. raised its holdings in Gentex by 1.9% in the fourth quarter. Reinhart Partners LLC. now owns 1,124,403 shares of the auto parts company's stock valued at $32,304,000 after acquiring an additional 20,624 shares in the last quarter. Finally, Hendershot Investments Inc. raised its holdings in Gentex by 3.8% in the fourth quarter. Hendershot Investments Inc. now owns 659,066 shares of the auto parts company's stock valued at $18,935,000 after acquiring an additional 24,231 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company's stock.

Gentex Price Performance

Shares of GNTX remained flat at $24.32 during mid-day trading on Friday. 2,523,649 shares of the stock were exchanged, compared to its average volume of 1,932,422. The stock has a market cap of $5.53 billion, a PE ratio of 13.82, a PEG ratio of 0.84 and a beta of 0.91. The stock's 50-day simple moving average is $26.70 and its two-hundred day simple moving average is $28.90. Gentex Co. has a twelve month low of $24.07 and a twelve month high of $37.58.

Gentex (NASDAQ:GNTX - Get Free Report) last announced its 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 return on equity of 16.74% and a net margin of 17.49%. During the same quarter in the previous year, the business earned $0.50 EPS. As a group, equities analysts forecast that Gentex Co. will post 2.04 EPS for the current year.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, April 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.97%. Gentex's dividend payout ratio (DPR) is presently 27.27%.

Analysts Set New Price Targets

GNTX has been the topic of several analyst reports. UBS Group reduced their target price on shares of Gentex from $30.00 to $29.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. Robert W. Baird set a $31.00 price objective on shares of Gentex in a report on Monday, February 3rd. JPMorgan Chase & Co. cut their price objective on shares of Gentex from $34.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. B. Riley reissued a "buy" rating and set a $32.50 price objective (down previously from $37.00) on shares of Gentex in a report on Monday, February 3rd. Finally, Guggenheim cut their price objective on shares of Gentex from $35.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, November 21st. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $32.31.

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.