State of Michigan Retirement System Has $2.07 Million Stock Holdings in Gentex Co. (NASDAQ:GNTX)

State of Michigan Retirement System increased its stake in shares of Gentex Co. (NASDAQ:GNTX) by 2.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,240 shares of the auto parts company’s stock after buying an additional 1,300 shares during the quarter. State of Michigan Retirement System’s holdings in Gentex were worth $2,068,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IFG Advisory LLC boosted its holdings in shares of Gentex by 85.1% in the 4th quarter. IFG Advisory LLC now owns 129,203 shares of the auto parts company’s stock worth $4,220,000 after acquiring an additional 59,407 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Gentex by 129.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 111,827 shares of the auto parts company’s stock worth $3,652,000 after purchasing an additional 63,152 shares in the last quarter. TD Asset Management Inc boosted its stake in Gentex by 58.1% in the fourth quarter. TD Asset Management Inc now owns 3,313,757 shares of the auto parts company’s stock worth $108,227,000 after purchasing an additional 1,217,278 shares in the last quarter. Thematics Asset Management grew its holdings in shares of Gentex by 51.2% during the fourth quarter. Thematics Asset Management now owns 523,207 shares of the auto parts company’s stock worth $17,088,000 after purchasing an additional 177,207 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Gentex by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 22,280,716 shares of the auto parts company’s stock valued at $727,688,000 after buying an additional 163,373 shares in the last quarter. 86.76% of the stock is owned by institutional investors.

Gentex Trading Down 0.1 %

Shares of NASDAQ:GNTX opened at $33.77 on Friday. Gentex Co. has a 1-year low of $27.86 and a 1-year high of $37.58. The stock has a market capitalization of $7.81 billion, a P/E ratio of 17.87, a P/E/G ratio of 0.95 and a beta of 0.93. The business has a 50-day moving average price of $34.32 and a two-hundred day moving average price of $34.38.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, April 26th. The auto parts company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Gentex had a return on equity of 19.19% and a net margin of 18.77%. The business had revenue of $590.23 million for the quarter, compared to the consensus estimate of $600.38 million. During the same period last year, the firm earned $0.42 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, equities analysts predict that Gentex Co. will post 2.11 EPS for the current year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 17th. Stockholders of record on Friday, July 5th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. Gentex’s dividend payout ratio is currently 25.40%.

Insider Transactions at Gentex

In other news, Director Joseph B. Anderson, Jr. sold 4,716 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $34.46, for a total value of $162,513.36. Following the completion of the sale, the director now directly owns 3,764 shares of the company’s stock, valued at approximately $129,707.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.41% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GNTX. B. Riley upped their price target on shares of Gentex from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. StockNews.com lowered shares of Gentex from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Guggenheim raised their price target on shares of Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Gentex currently has an average rating of “Hold” and a consensus target price of $37.83.

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.