New York State Teachers Retirement System Purchases 40,426 Shares of Gentex Corporation $GNTX

New York State Teachers Retirement System lifted its position in shares of Gentex Corporation (NASDAQ:GNTX) by 19.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 250,597 shares of the auto parts company’s stock after purchasing an additional 40,426 shares during the period. New York State Teachers Retirement System owned 0.11% of Gentex worth $5,831,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Gentex during the 3rd quarter worth $38,000. Clearstead Advisors LLC increased its stake in Gentex by 82.3% during the 3rd quarter. Clearstead Advisors LLC now owns 2,042 shares of the auto parts company’s stock worth $58,000 after acquiring an additional 922 shares during the period. CIBC Private Wealth Group LLC increased its stake in Gentex by 2,420.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company’s stock worth $58,000 after acquiring an additional 1,985 shares during the period. Grey Fox Wealth Advisors LLC bought a new position in Gentex during the 3rd quarter worth $65,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Gentex during the 4th quarter worth $73,000. Institutional investors own 86.76% of the company’s stock.

Gentex Stock Performance

Shares of GNTX opened at $23.55 on Thursday. Gentex Corporation has a 52-week low of $20.48 and a 52-week high of $29.38. The business’s fifty day moving average is $22.23 and its 200-day moving average is $23.20. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of 13.23 and a beta of 0.78.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.04. Gentex had a return on equity of 16.27% and a net margin of 14.75%.The company had revenue of $675.44 million for the quarter, compared to analyst estimates of $649.42 million. During the same quarter last year, the company posted $0.42 EPS. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. As a group, research analysts forecast that Gentex Corporation will post 1.92 EPS for the current fiscal year.

Gentex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th were paid a $0.12 dividend. The ex-dividend date was Wednesday, April 8th. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. Gentex’s dividend payout ratio (DPR) is presently 26.97%.

Insiders Place Their Bets

In other news, CEO Steven R. Downing sold 35,000 shares of Gentex stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $24.75, for a total value of $866,250.00. Following the transaction, the chief executive officer owned 211,670 shares in the company, valued at approximately $5,238,832.50. This trade represents a 14.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard O. Schaum sold 4,815 shares of Gentex stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $23.31, for a total value of $112,237.65. Following the completion of the transaction, the director owned 81,443 shares in the company, valued at approximately $1,898,436.33. The trade was a 5.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 62,948 shares of company stock worth $1,554,550. 0.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on GNTX shares. JPMorgan Chase & Co. lowered their price objective on Gentex from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, April 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Gentex in a research note on Thursday, January 22nd. UBS Group set a $26.00 price objective on Gentex in a research note on Sunday, April 26th. Robert W. Baird raised their price objective on Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Finally, B. Riley Financial restated a “buy” rating and set a $29.00 price objective (up from $28.00) on shares of Gentex in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $26.67.

Gentex Company Profile

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).