Teacher Retirement System of Texas Sells 1,131 Shares of Gentex Co. (NASDAQ:GNTX)

Teacher Retirement System of Texas lessened its stake in Gentex Co. (NASDAQ:GNTX) by 0.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 209,242 shares of the auto parts company’s stock after selling 1,131 shares during the quarter. Teacher Retirement System of Texas owned about 0.09% of Gentex worth $6,012,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of GNTX. Midwest Capital Advisors LLC acquired a new stake in shares of Gentex in the fourth quarter valued at approximately $26,000. Synergy Asset Management LLC acquired a new stake in shares of Gentex in the 4th quarter valued at $34,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Gentex by 32.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,419 shares of the auto parts company’s stock worth $70,000 after acquiring an additional 593 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Gentex during the third quarter worth $125,000. Finally, GAMMA Investing LLC lifted its stake in shares of Gentex by 159.1% during the fourth quarter. GAMMA Investing LLC now owns 5,133 shares of the auto parts company’s stock valued at $147,000 after acquiring an additional 3,152 shares during the period. 86.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on GNTX. B. Riley reissued a “buy” rating and set a $32.50 price objective (down from $37.00) on shares of Gentex in a report on Monday, February 3rd. Guggenheim set a $30.00 price objective on shares of Gentex in a report on Wednesday, March 5th. Robert W. Baird set a $31.00 price objective on shares of Gentex in a research note on Monday, February 3rd. UBS Group dropped their target price on shares of Gentex from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Six investment 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 stock currently has an average rating of “Hold” and an average target price of $31.81.

Gentex Trading Down 0.7 %

NASDAQ:GNTX opened at $23.91 on Monday. Gentex Co. has a 1 year low of $23.50 and a 1 year high of $36.46. The stock has a 50-day moving average price of $25.53 and a two-hundred day moving average price of $28.24. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 0.84 and a beta of 0.90.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, January 31st. The auto parts company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.10). Gentex had a net margin of 17.49% and a return on equity of 16.74%. During the same period last year, the business earned $0.50 earnings per share. Sell-side analysts forecast that Gentex Co. will post 2.04 earnings per share for the current year.

Gentex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Wednesday, April 9th. Gentex’s payout ratio is presently 27.27%.

About Gentex

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.