VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Gentex Corporation $GNTX

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Gentex Corporation (NASDAQ:GNTX) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 147,000 shares of the auto parts company’s stock, valued at approximately $3,715,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.07% of Gentex as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GNTX. Clearstead Advisors LLC grew its stake in shares of Gentex by 21.4% in the fourth quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company’s stock worth $58,000 after acquiring an additional 437 shares in the last quarter. Gagnon Securities LLC boosted its holdings in Gentex by 0.8% in the fourth quarter. Gagnon Securities LLC now owns 55,672 shares of the auto parts company’s stock valued at $1,295,000 after purchasing an additional 458 shares during the period. Crumly & Associates Inc. boosted its holdings in Gentex by 3.7% in the second quarter. Crumly & Associates Inc. now owns 13,291 shares of the auto parts company’s stock valued at $336,000 after purchasing an additional 478 shares during the period. First Citizens Bank & Trust Co. grew its stake in Gentex by 1.6% during the 1st quarter. First Citizens Bank & Trust Co. now owns 30,294 shares of the auto parts company’s stock worth $662,000 after purchasing an additional 487 shares in the last quarter. Finally, Sei Investments Co. grew its stake in Gentex by 0.3% during the 1st quarter. Sei Investments Co. now owns 196,776 shares of the auto parts company’s stock worth $4,300,000 after purchasing an additional 521 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Gentex Price Performance

Shares of NASDAQ GNTX opened at $22.66 on Thursday. The business has a 50-day moving average of $23.64 and a two-hundred day moving average of $23.37. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of 11.99 and a beta of 0.80. Gentex Corporation has a 1 year low of $20.48 and a 1 year high of $29.38.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, July 24th. The auto parts company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. The business had revenue of $651.30 million for the quarter, compared to the consensus estimate of $669.65 million. Gentex had a return on equity of 16.78% and a net margin of 15.50%.The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.43 EPS. As a group, equities research analysts expect that Gentex Corporation will post 2.07 earnings per share for the current year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Wednesday, October 7th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, October 7th. Gentex’s dividend payout ratio is currently 25.40%.

Analyst Ratings Changes

A number of research firms have issued reports on GNTX. Weiss Ratings raised Gentex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Freedom Capital cut shares of Gentex from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Wall Street Zen downgraded shares of Gentex from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. JPMorgan Chase & Co. lowered their price target on shares of Gentex from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, August 10th. Finally, UBS Group reissued a “neutral” rating and issued a $25.00 price objective (down from $26.00) on shares of Gentex in a research report on Thursday, July 9th. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.80.

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).