Mutual of America Capital Management LLC Sells 16,630 Shares of Gentex Co. (NASDAQ:GNTX)

Mutual of America Capital Management LLC reduced its position in shares of Gentex Co. (NASDAQ:GNTXFree Report) by 9.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,765 shares of the auto parts company’s stock after selling 16,630 shares during the period. Mutual of America Capital Management LLC owned approximately 0.07% of Gentex worth $4,938,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Belpointe Asset Management LLC grew its position in shares of Gentex by 414.3% during the 1st quarter. Belpointe Asset Management LLC now owns 900 shares of the auto parts company’s stock valued at $25,000 after purchasing an additional 725 shares in the last quarter. Covestor Ltd grew its position in Gentex by 79.2% in the first quarter. Covestor Ltd now owns 1,887 shares of the auto parts company’s stock worth $55,000 after acquiring an additional 834 shares in the last quarter. Quent Capital LLC grew its position in Gentex by 209.0% in the third quarter. Quent Capital LLC now owns 1,749 shares of the auto parts company’s stock worth $57,000 after acquiring an additional 1,183 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in Gentex by 31.7% in the first quarter. Steward Partners Investment Advisory LLC now owns 2,774 shares of the auto parts company’s stock worth $78,000 after acquiring an additional 667 shares in the last quarter. Finally, ICA Group Wealth Management LLC purchased a new position in Gentex in the fourth quarter worth $93,000. 84.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Richard O. Schaum sold 6,022 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $33.93, for a total value of $204,326.46. Following the completion of the transaction, the director now directly owns 62,555 shares of the company’s stock, valued at $2,122,491.15. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.47% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GNTX. The Goldman Sachs Group upped their target price on shares of Gentex from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. B. Riley upped their target price on shares of Gentex from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. StockNews.com lowered shares of Gentex from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of Gentex from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $36.80.

Read Our Latest Stock Report on Gentex

Gentex Stock Down 0.5 %

NASDAQ GNTX opened at $35.16 on Tuesday. The firm has a market cap of $8.20 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 0.94 and a beta of 0.97. The company has a 50-day simple moving average of $32.54 and a two-hundred day simple moving average of $31.90. Gentex Co. has a 12-month low of $25.77 and a 12-month high of $35.44.

Gentex (NASDAQ:GNTXGet Free Report) last issued its quarterly earnings data 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 the consensus estimate of $563.42 million. Gentex had a net margin of 18.63% and a return on equity of 19.25%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 earnings per share. Equities analysts expect that Gentex Co. will post 2.17 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 17th. Investors of record on Friday, January 5th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Thursday, January 4th. Gentex’s payout ratio is currently 26.09%.

Gentex Company Profile

(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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