Gentex Co. (GNTX) Holdings Cut by Louisiana State Employees Retirement System
Louisiana State Employees Retirement System trimmed its stake in shares of Gentex Co. (NASDAQ:GNTX) by 5.6% during the 4th quarter, HoldingsChannel reports. The firm owned 69,600 shares of the auto parts company’s stock after selling 4,100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Gentex were worth $1,407,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Palo Capital Inc. raised its position in shares of Gentex by 3.1% in the third quarter. Palo Capital Inc. now owns 165,636 shares of the auto parts company’s stock valued at $3,555,000 after buying an additional 4,938 shares during the last quarter. Avitas Wealth Management LLC raised its position in shares of Gentex by 4.0% in the third quarter. Avitas Wealth Management LLC now owns 88,265 shares of the auto parts company’s stock valued at $1,894,000 after buying an additional 3,407 shares during the last quarter. Vanguard Group Inc raised its position in shares of Gentex by 1.1% in the third quarter. Vanguard Group Inc now owns 24,110,056 shares of the auto parts company’s stock valued at $517,401,000 after buying an additional 272,847 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Gentex in the third quarter valued at about $4,300,000. Finally, Carnegie Capital Asset Management LLC acquired a new stake in shares of Gentex in the third quarter valued at about $338,000. 85.93% of the stock is currently owned by institutional investors and hedge funds.
Gentex stock opened at $22.37 on Friday. Gentex Co. has a 12-month low of $17.80 and a 12-month high of $25.41. The stock has a market cap of $5.84 billion, a P/E ratio of 17.48, a PEG ratio of 1.12 and a beta of 1.11.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 23rd. Shareholders of record on Wednesday, January 9th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Tuesday, January 8th. Gentex’s dividend payout ratio (DPR) is presently 34.38%.
A number of brokerages have recently commented on GNTX. ValuEngine cut shares of Gentex from a “hold” rating to a “sell” rating in a research report on Saturday, October 6th. Craig Hallum restated a “hold” rating and set a $20.00 price objective on shares of Gentex in a research report on Friday, October 19th. Zacks Investment Research cut shares of Gentex from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 7th. Robert W. Baird raised their price objective on shares of Gentex from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, October 22nd. Finally, BidaskClub cut shares of Gentex from a “hold” rating to a “sell” rating in a research report on Friday, December 7th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $24.11.
In other Gentex news, General Counsel Scott P. Ryan sold 3,000 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $19.88, for a total transaction of $59,640.00. Following the completion of the transaction, the general counsel now owns 22,513 shares of the company’s stock, valued at $447,558.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders have acquired 1,167 shares of company stock valued at $23,226. 0.60% of the stock is currently owned by insiders.
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Gentex Corporation provides automatic-dimming and non-dimming rearview mirrors, and electronics for the automotive industry; dimmable aircraft windows for the aviation industry; and commercial smoke alarms and signaling devices for the fire protection industry worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and interior and exterior non-automatic-dimming rearview mirrors with electronic features for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.
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