New York State Common Retirement Fund Has $9.74 Million Stock Holdings in Gentex Co. (NASDAQ:GNTX)

New York State Common Retirement Fund reduced its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 7.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 338,922 shares of the auto parts company’s stock after selling 27,200 shares during the period. New York State Common Retirement Fund’s holdings in Gentex were worth $9,737,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its stake in Gentex by 179.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company’s stock valued at $59,404,000 after purchasing an additional 1,285,519 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Gentex by 5.6% during the third quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company’s stock valued at $159,406,000 after buying an additional 285,802 shares during the last quarter. Barclays PLC grew its holdings in Gentex by 54.4% during the third quarter. Barclays PLC now owns 107,930 shares of the auto parts company’s stock worth $3,205,000 after buying an additional 38,027 shares in the last quarter. Reinhart Partners LLC. raised its position in Gentex by 1.9% in the 4th quarter. Reinhart Partners LLC. now owns 1,124,403 shares of the auto parts company’s stock valued at $32,304,000 after buying an additional 20,624 shares during the last quarter. Finally, Hendershot Investments Inc. lifted its stake in Gentex by 3.8% during the 4th quarter. Hendershot Investments Inc. now owns 659,066 shares of the auto parts company’s stock valued at $18,935,000 after acquiring an additional 24,231 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the stock. UBS Group lowered their target price on shares of Gentex from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. JPMorgan Chase & Co. cut their target price on Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Robert W. Baird set a $31.00 price target on Gentex in a report on Monday, February 3rd. B. Riley reaffirmed a “buy” rating and set a $32.50 target price (down from $37.00) on shares of Gentex in a research report on Monday, February 3rd. Finally, Guggenheim reduced their price target on shares of Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $32.31.

Gentex Stock Performance

GNTX stock opened at $24.67 on Wednesday. The stock has a fifty day moving average of $26.99 and a 200-day moving average of $28.99. Gentex Co. has a fifty-two week low of $24.10 and a fifty-two week high of $37.58. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 0.84 and a beta of 0.91.

Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.10). Gentex had a return on equity of 16.74% and a net margin of 17.49%. During the same quarter in the prior year, the business posted $0.50 EPS. Equities analysts predict that Gentex Co. will post 2.04 EPS for the current year.

Gentex 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.