State of Tennessee Treasury Department grew its position in shares of Gentex Co. (NASDAQ:GNTX) by 23.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,976 shares of the auto parts company’s stock after buying an additional 9,238 shares during the period. State of Tennessee Treasury Department’s holdings in Gentex were worth $1,085,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Smithfield Trust Co. increased its position in Gentex by 174.7% during the 1st quarter. Smithfield Trust Co. now owns 1,305 shares of the auto parts company’s stock worth $29,000 after buying an additional 830 shares during the period. Tompkins Financial Corp bought a new position in shares of Gentex in the first quarter worth $29,000. Chevy Chase Trust Holdings Inc. bought a new position in shares of Gentex in the fourth quarter worth $39,000. GQ Asset Management LLC bought a new position in shares of Gentex in the first quarter worth $32,000. Finally, Private Capital Group LLC increased its position in shares of Gentex by 2,267.6% in the first quarter. Private Capital Group LLC now owns 1,681 shares of the auto parts company’s stock worth $37,000 after purchasing an additional 1,610 shares during the period. Hedge funds and other institutional investors own 82.22% of the company’s stock.

Shares of GNTX stock opened at $25.98 on Friday. The business’s 50-day moving average price is $26.23 and its 200-day moving average price is $26.71. Gentex Co. has a 12 month low of $19.48 and a 12 month high of $31.27. The firm has a market capitalization of $6.36 billion, a price-to-earnings ratio of 16.14 and a beta of 1.14.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.36 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.36. Gentex had a return on equity of 21.58% and a net margin of 22.23%. The firm had revenue of $453.76 million for the quarter, compared to analyst estimates of $430.65 million. During the same period last year, the firm posted $0.40 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, analysts forecast that Gentex Co. will post 1.25 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Friday, July 10th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Thursday, July 9th. Gentex’s payout ratio is 28.92%.

A number of research analysts recently commented on the company. BidaskClub cut Gentex from a “hold” rating to a “sell” rating in a research report on Friday, March 27th. B. Riley reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Gentex in a research note on Monday, June 29th. Robert W. Baird raised Gentex from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $27.00 to $32.00 in a research note on Monday, June 1st. Goldman Sachs Group began coverage on Gentex in a research note on Tuesday, April 14th. They issued a “sell” rating and a $19.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price objective on Gentex from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, June 19th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. Gentex presently has an average rating of “Hold” and a consensus price target of $29.38.

About Gentex

Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It designs, develops, manufactures, and markets 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, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.

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Institutional Ownership by Quarter for Gentex (NASDAQ:GNTX)

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