New York Life Investment Management LLC Sells 344 Shares of Gentex Co. (NASDAQ:GNTX)

New York Life Investment Management LLC trimmed its position in shares of Gentex Co. (NASDAQ:GNTX) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,532 shares of the auto parts company’s stock after selling 344 shares during the quarter. New York Life Investment Management LLC’s holdings in Gentex were worth $801,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP boosted its holdings in Gentex by 95.4% in the third quarter. Wellington Management Group LLP now owns 6,823,022 shares of the auto parts company’s stock worth $222,021,000 after acquiring an additional 3,330,502 shares in the last quarter. Retirement Systems of Alabama boosted its stake in Gentex by 61.5% in the 4th quarter. Retirement Systems of Alabama now owns 556,849 shares of the auto parts company’s stock worth $18,187,000 after purchasing an additional 211,978 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in Gentex by 110.1% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 375,336 shares of the auto parts company’s stock worth $12,356,000 after purchasing an additional 196,718 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Gentex by 66.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 250,000 shares of the auto parts company’s stock valued at $8,135,000 after purchasing an additional 100,000 shares in the last quarter. Finally, Reinhart Partners LLC. increased its stake in Gentex by 10.7% during the 4th quarter. Reinhart Partners LLC. now owns 979,355 shares of the auto parts company’s stock valued at $31,986,000 after purchasing an additional 94,794 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Kevin C. Nash sold 13,500 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total value of $446,040.00. Following the transaction, the chief financial officer now directly owns 44,321 shares of the company’s stock, valued at $1,464,365.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.41% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Gentex Trading Up 0.6 %

Shares of Gentex stock opened at $34.86 on Thursday. Gentex Co. has a twelve month low of $25.86 and a twelve month high of $37.58. The firm has a market capitalization of $8.06 billion, a PE ratio of 18.44, a P/E/G ratio of 0.75 and a beta of 0.98. The firm’s 50-day moving average price is $35.46 and its 200 day moving average price is $33.28.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, April 26th. The auto parts company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The firm had revenue of $590.23 million for the quarter, compared to analyst estimates of $600.38 million. Gentex had a net margin of 18.77% and a return on equity of 19.19%. Gentex’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 EPS. On average, sell-side analysts predict that Gentex Co. will post 2.11 EPS for the current fiscal year.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Friday, April 5th were issued a $0.12 dividend. The ex-dividend date was Thursday, April 4th. This represents a $0.48 dividend on an annualized basis and a yield of 1.38%. Gentex’s payout ratio is currently 25.40%.

Gentex Company Profile

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.