PGGM Investments Reduces Stock Holdings in Gentex Co. (NASDAQ:GNTX)

PGGM Investments decreased its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 8.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 220,504 shares of the auto parts company’s stock after selling 19,605 shares during the quarter. PGGM Investments’ holdings in Gentex were worth $7,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Russell Investments Group Ltd. raised its holdings in Gentex by 37.0% during the 4th quarter. Russell Investments Group Ltd. now owns 92,897 shares of the auto parts company’s stock valued at $3,034,000 after acquiring an additional 25,067 shares during the period. Motley Fool Asset Management LLC raised its holdings in Gentex by 0.7% during the 4th quarter. Motley Fool Asset Management LLC now owns 310,600 shares of the auto parts company’s stock valued at $10,144,000 after acquiring an additional 2,009 shares during the period. Alaska Permanent Fund Corp raised its holdings in Gentex by 0.4% during the 4th quarter. Alaska Permanent Fund Corp now owns 202,750 shares of the auto parts company’s stock valued at $6,622,000 after acquiring an additional 729 shares during the period. Cumberland Partners Ltd raised its holdings in Gentex by 104.1% during the 4th quarter. Cumberland Partners Ltd now owns 184,655 shares of the auto parts company’s stock valued at $6,030,000 after acquiring an additional 94,195 shares during the period. Finally, GAMMA Investing LLC bought a new stake in Gentex during the 4th quarter valued at $46,000. Institutional investors own 86.76% of the company’s stock.

Gentex Stock Performance

GNTX traded up $0.06 during trading on Friday, reaching $34.71. The stock had a trading volume of 2,150,577 shares, compared to its average volume of 1,224,465. The stock has a market cap of $8.03 billion, a PE ratio of 18.86, a PEG ratio of 0.73 and a beta of 0.99. Gentex Co. has a one year low of $25.85 and a one year high of $37.58. The business has a 50-day moving average of $35.67 and a 200-day moving average of $33.09.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, April 26th. The auto parts company reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. The business had revenue of $590.23 million for the quarter, compared to analysts’ expectations of $600.38 million. Gentex had a return on equity of 19.25% and a net margin of 18.63%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Equities research analysts forecast that Gentex Co. will post 2.17 EPS for the current fiscal year.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Friday, April 5th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $0.48 annualized dividend and a yield of 1.38%. Gentex’s payout ratio is 26.09%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GNTX shares. B. Riley boosted their target price on shares of Gentex from $42.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. JPMorgan Chase & Co. upped their price target on shares of Gentex from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. StockNews.com raised shares of Gentex from a “hold” rating to a “buy” rating in a report on Friday, February 23rd. Guggenheim upped their price target on shares of Gentex from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, The Goldman Sachs Group upped their price target on shares of Gentex from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Gentex currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.83.

Insider Buying and Selling at Gentex

In other Gentex news, Director Richard O. Schaum sold 6,022 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $33.93, for a total transaction of $204,326.46. Following the completion of the sale, the director now directly owns 62,555 shares in the company, valued at $2,122,491.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Gentex news, CFO Kevin C. Nash sold 13,500 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total transaction of $446,040.00. Following the completion of the sale, the chief financial officer now directly owns 44,321 shares in the company, valued at $1,464,365.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard O. Schaum sold 6,022 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $33.93, for a total transaction of $204,326.46. Following the sale, the director now owns 62,555 shares of the company’s stock, valued at $2,122,491.15. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

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.