New York Life Investment Management LLC Increases Stock Holdings in Gentex Co. (NASDAQ:GNTX)

New York Life Investment Management LLC boosted its holdings in shares of Gentex Co. (NASDAQ:GNTXFree Report) by 112.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,876 shares of the auto parts company’s stock after purchasing an additional 13,161 shares during the quarter. New York Life Investment Management LLC’s holdings in Gentex were worth $809,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GNTX. Belpointe Asset Management LLC increased its holdings in shares of Gentex by 414.3% in the 1st quarter. Belpointe Asset Management LLC now owns 900 shares of the auto parts company’s stock valued at $25,000 after acquiring an additional 725 shares during the last quarter. Covestor Ltd boosted its position in Gentex by 79.2% during the 1st quarter. Covestor Ltd now owns 1,887 shares of the auto parts company’s stock valued at $55,000 after purchasing an additional 834 shares during the period. Quent Capital LLC boosted its position in Gentex by 209.0% during the 3rd quarter. Quent Capital LLC now owns 1,749 shares of the auto parts company’s stock valued at $57,000 after purchasing an additional 1,183 shares during the period. Steward Partners Investment Advisory LLC boosted its position in Gentex by 31.7% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 2,774 shares of the auto parts company’s stock valued at $78,000 after purchasing an additional 667 shares during the period. Finally, ICA Group Wealth Management LLC acquired a new position in Gentex during the 4th quarter valued at approximately $93,000. 84.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GNTX has been the subject of a number of analyst reports. B. Riley boosted their price objective on Gentex from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, January 29th. The Goldman Sachs Group boosted their price target on Gentex from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. StockNews.com lowered Gentex from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. boosted their price target on Gentex from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Gentex presently has an average rating of “Hold” and an average target price of $36.80.

Read Our Latest Stock Analysis on Gentex

Gentex Stock Up 0.1 %

Shares of NASDAQ:GNTX opened at $34.55 on Thursday. The business has a 50 day moving average price of $32.27 and a 200 day moving average price of $31.82. Gentex Co. has a twelve month low of $25.77 and a twelve month high of $35.08. The company has a market cap of $8.06 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 0.73 and a beta of 0.97.

Gentex (NASDAQ:GNTXGet Free Report) last posted its quarterly earnings results on Friday, January 26th. The auto parts company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.44 by $0.06. The firm had revenue of $589.13 million during the quarter, compared to analysts’ expectations of $563.42 million. Gentex had a return on equity of 19.25% and a net margin of 18.63%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 EPS. Analysts anticipate that Gentex Co. will post 2.19 EPS for the current year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 17th. Stockholders of record on Friday, January 5th were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.39%. Gentex’s payout ratio is presently 26.09%.

Insider Transactions at Gentex

In related news, Director Richard O. Schaum sold 6,022 shares of the stock in a transaction that occurred on 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 directly owns 62,555 shares in the company, valued at approximately $2,122,491.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by insiders.

About Gentex

(Free Report)

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, 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.

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Institutional Ownership by Quarter for Gentex (NASDAQ:GNTX)

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