South Dakota Investment Council Has $9.20 Million Position in Gentex Corporation $GNTX

South Dakota Investment Council grew its stake in shares of Gentex Corporation (NASDAQ:GNTX) by 22.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 421,137 shares of the auto parts company’s stock after buying an additional 75,996 shares during the period. South Dakota Investment Council’s holdings in Gentex were worth $9,202,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Anchor Investment Management LLC bought a new position in Gentex during the first quarter valued at about $26,000. AdvisorNet Financial Inc raised its holdings in Gentex by 2,299.0% in the 1st quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock valued at $52,000 after acquiring an additional 2,299 shares in the last quarter. Arax Advisory Partners bought a new stake in shares of Gentex in the 4th quarter worth approximately $52,000. Employees Retirement System of Texas bought a new stake in shares of Gentex in the 4th quarter worth approximately $56,000. Finally, Clearstead Advisors LLC grew its holdings in shares of Gentex by 21.4% during the 4th quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company’s stock worth $58,000 after purchasing an additional 437 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Gentex Trading Down 0.3%

NASDAQ GNTX opened at $23.97 on Thursday. Gentex Corporation has a 1-year low of $20.48 and a 1-year high of $29.38. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of 12.68 and a beta of 0.78. The stock’s 50 day moving average is $24.54 and its two-hundred day moving average is $23.51.

Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, July 24th. The auto parts company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. The business had revenue of $651.30 million during the quarter, compared to analysts’ expectations of $669.65 million. Gentex had a return on equity of 16.78% and a net margin of 15.50%.Gentex’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 EPS. On average, analysts predict that Gentex Corporation will post 1.99 earnings per share for the current year.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, July 8th. Gentex’s dividend payout ratio is currently 25.40%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GNTX shares. UBS Group restated a “neutral” rating and set a $25.00 price objective (down from $26.00) on shares of Gentex in a research report on Thursday, July 9th. Wall Street Zen cut Gentex from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. B. Riley Financial reiterated a “buy” rating and set a $29.00 price target (up from $28.00) on shares of Gentex in a research note on Monday, April 27th. Weiss Ratings raised shares of Gentex from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Finally, Robert W. Baird increased their price objective on shares of Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $27.00.

Insider Buying and Selling at Gentex

In other Gentex news, Director Brian C. Walker sold 5,939 shares of Gentex stock in a transaction on Friday, May 15th. The stock was sold at an average price of $22.98, for a total transaction of $136,478.22. Following the completion of the transaction, the director directly owned 24,205 shares of the company’s stock, valued at approximately $556,230.90. This trade represents a 19.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph B. Anderson, Jr. sold 5,939 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. The SEC filing for this sale provides additional information. Corporate insiders own 0.55% of the company’s stock.

Gentex 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).