Teacher Retirement System of Texas Trims Holdings in Gentex Corporation $GNTX

Teacher Retirement System of Texas reduced its holdings in shares of Gentex Corporation (NASDAQ:GNTX) by 18.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 201,794 shares of the auto parts company’s stock after selling 46,804 shares during the period. Teacher Retirement System of Texas’ holdings in Gentex were worth $5,711,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Addison Advisors LLC bought a new position in shares of Gentex during the second quarter valued at approximately $25,000. Grey Fox Wealth Advisors LLC bought a new stake in shares of Gentex in the 3rd quarter worth approximately $65,000. Steph & Co. grew its stake in shares of Gentex by 30.5% in the 3rd quarter. Steph & Co. now owns 2,684 shares of the auto parts company’s stock worth $76,000 after buying an additional 627 shares during the last quarter. Bayforest Capital Ltd bought a new position in Gentex during the 2nd quarter valued at approximately $81,000. Finally, EverSource Wealth Advisors LLC increased its position in Gentex by 2,038.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,512 shares of the auto parts company’s stock valued at $99,000 after buying an additional 4,301 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Gentex Stock Up 0.3%

Shares of NASDAQ GNTX opened at $23.65 on Tuesday. The firm’s 50-day moving average price is $23.43 and its 200-day moving average price is $25.26. Gentex Corporation has a 52-week low of $20.28 and a 52-week high of $29.38. The company has a market cap of $5.18 billion, a PE ratio of 13.91 and a beta of 0.78.

Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, October 24th. The auto parts company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). Gentex had a return on equity of 15.86% and a net margin of 15.61%.The company had revenue of $570.32 million during the quarter, compared to analysts’ expectations of $661.10 million. During the same quarter in the prior year, the business posted $0.53 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Stockholders of record on Wednesday, January 7th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Wednesday, January 7th. Gentex’s dividend payout ratio (DPR) is 28.24%.

Wall Street Analyst Weigh In

Several research firms have commented on GNTX. Robert W. Baird set a $26.00 target price on Gentex in a report on Wednesday, January 14th. UBS Group restated a “neutral” rating and set a $29.00 price objective (up from $28.00) on shares of Gentex in a research note on Monday, October 6th. JPMorgan Chase & Co. lifted their target price on shares of Gentex from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. The Goldman Sachs Group set a $27.00 price target on shares of Gentex and gave the company a “neutral” rating in a report on Monday, October 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Gentex in a report on Thursday. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $27.86.

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).