Gentex Corporation $GNTX Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its holdings in Gentex Corporation (NASDAQ:GNTX) by 13.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 556,277 shares of the auto parts company’s stock after selling 88,840 shares during the period. Retirement Systems of Alabama’s holdings in Gentex were worth $12,093,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Fulcrum Asset Management LLP acquired a new position in Gentex during the 3rd quarter worth $278,000. 180 Wealth Advisors LLC increased its holdings in shares of Gentex by 4.1% in the 3rd quarter. 180 Wealth Advisors LLC now owns 91,858 shares of the auto parts company’s stock valued at $1,997,000 after acquiring an additional 3,602 shares during the last quarter. Villanova Investment Management Co bought a new stake in shares of Gentex in the 3rd quarter valued at approximately $1,533,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Gentex during the third quarter worth $427,000. Finally, State of Wyoming raised its holdings in shares of Gentex by 80.6% during the third quarter. State of Wyoming now owns 26,847 shares of the auto parts company’s stock worth $584,000 after purchasing an additional 11,985 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Trading Down 1.1%

Gentex stock opened at $19.37 on Friday. The company’s 50-day moving average price is $21.35 and its two-hundred day moving average price is $22.93. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of 9.99 and a beta of 0.85. Gentex Corporation has a 52 week low of $19.21 and a 52 week high of $26.48.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, October 23rd. The auto parts company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company had revenue of $647.71 million for the quarter, compared to analyst estimates of $669.69 million. Gentex had a net margin of 15.15% and a return on equity of 16.67%. Gentex’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 EPS. Research analysts expect that Gentex Corporation will post 2.02 earnings per share for the current fiscal year.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 21st. Stockholders of record on Wednesday, October 7th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, October 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.5%. Gentex’s payout ratio is currently 25.81%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Robert W. Baird decreased their price target on shares of Gentex from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, October 26th. UBS Group reiterated a “neutral” rating and set a $21.00 price target (down from $24.00) on shares of Gentex in a research report on Monday, October 26th. BNP Paribas Exane reduced their price objective on Gentex from $23.00 to $22.50 and set a “hold” rating for the company in a research report on Monday, October 26th. The Goldman Sachs Group cut Gentex from a “neutral” rating to a “sell” rating and cut their target price for the company from $23.00 to $20.00 in a research note on Tuesday, October 6th. Finally, B. Riley Financial lowered their price target on shares of Gentex from $29.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, October 26th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $23.08.

Gentex Profile

Gentex Corporation is a technology company headquartered in Zeeland, Michigan. It develops and manufactures products primarily for the global automotive industry, including automatic-dimming rearview and exterior mirrors, camera-based visibility systems, and other electronic features for vehicles. Its automotive offerings also include HomeLink, a vehicle-based wireless control system for compatible garage doors, gates, and home devices. Gentex supplies automakers around the world and works with customers to integrate its products into new vehicles.