Teacher Retirement System of Texas Sells 46,804 Shares of Gentex Corporation $GNTX

Teacher Retirement System of Texas lowered its stake in shares of Gentex Corporation (NASDAQ:GNTX) by 18.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 201,794 shares of the auto parts company’s stock after selling 46,804 shares during the quarter. Teacher Retirement System of Texas owned 0.09% of Gentex worth $5,711,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC boosted its stake in Gentex by 5.1% in the third quarter. CWM LLC now owns 9,648 shares of the auto parts company’s stock worth $273,000 after buying an additional 467 shares in the last quarter. Orion Porfolio Solutions LLC increased its stake in Gentex by 4.5% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 13,025 shares of the auto parts company’s stock worth $286,000 after purchasing an additional 562 shares during the period. Nisa Investment Advisors LLC lifted its position in Gentex by 0.4% in the second quarter. Nisa Investment Advisors LLC now owns 139,315 shares of the auto parts company’s stock valued at $3,064,000 after purchasing an additional 614 shares during the last quarter. Steph & Co. boosted its stake in shares of Gentex by 30.5% during the third quarter. Steph & Co. now owns 2,684 shares of the auto parts company’s stock valued at $76,000 after purchasing an additional 627 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Gentex by 5.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 12,509 shares of the auto parts company’s stock valued at $275,000 after purchasing an additional 634 shares during the period. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Gentex Trading Up 0.3%

Shares of GNTX opened at $23.65 on Tuesday. Gentex Corporation has a 1-year low of $20.28 and a 1-year high of $29.38. The firm’s 50-day moving average price is $23.43 and its 200-day moving average price is $25.26. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of 13.91 and a beta of 0.78.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, October 24th. The auto parts company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The company had revenue of $570.32 million during the quarter, compared to the consensus estimate of $661.10 million. Gentex had a return on equity of 15.86% and a net margin of 15.61%.Gentex’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 earnings per share. On average, research analysts forecast that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Wednesday, January 7th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, January 7th. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. Gentex’s payout ratio is currently 28.24%.

Wall Street Analysts Forecast Growth

GNTX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of Gentex from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, October 20th. The Goldman Sachs Group set a $27.00 price objective on shares of Gentex and gave the company a “neutral” rating in a research report on Monday, October 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Gentex in a report on Thursday. Robert W. Baird set a $26.00 target price on Gentex in a research note on Wednesday, January 14th. Finally, UBS Group reaffirmed a “neutral” rating and set a $29.00 price target (up previously from $28.00) on shares of Gentex in a research report on Monday, October 6th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $27.86.

About Gentex

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).