VIRGINIA RETIREMENT SYSTEMS ET Al Purchases 46,400 Shares of Gentex Corporation $GNTX

VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in Gentex Corporation (NASDAQ:GNTX) by 31.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 193,400 shares of the auto parts company’s stock after purchasing an additional 46,400 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Gentex were worth $4,205,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Choreo LLC raised its position in Gentex by 42.1% in the third quarter. Choreo LLC now owns 24,956 shares of the auto parts company’s stock valued at $543,000 after purchasing an additional 7,388 shares during the period. Norris Perne & French LLP MI purchased a new position in shares of Gentex during the 3rd quarter worth $693,000. Signaturefd LLC grew its holdings in shares of Gentex by 51.1% during the 3rd quarter. Signaturefd LLC now owns 23,975 shares of the auto parts company’s stock worth $521,000 after purchasing an additional 8,104 shares during the period. Citizens Financial Group Inc. RI acquired a new stake in shares of Gentex during the 3rd quarter worth about $219,000. Finally, Inspire Investing LLC increased its position in shares of Gentex by 8.5% during the 3rd quarter. Inspire Investing LLC now owns 29,061 shares of the auto parts company’s stock worth $632,000 after purchasing an additional 2,269 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on GNTX shares. Robert W. Baird reduced their price objective on shares of Gentex from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Monday, October 26th. UBS Group reaffirmed a “neutral” rating and set a $21.00 target price (down from $24.00) on shares of Gentex in a research note on Monday, October 26th. B. Riley Financial dropped their price target on shares of Gentex from $29.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, October 26th. Seaport Research Partners set a $25.00 price objective on shares of Gentex in a report on Monday, October 26th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Gentex from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Monday, October 26th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $23.08.

Gentex Stock Performance

Shares of GNTX stock opened at $19.87 on Monday. The stock has a market capitalization of $4.23 billion, a P/E ratio of 10.68 and a beta of 0.85. The company has a 50 day moving average price of $21.92 and a 200 day moving average price of $23.10. Gentex Corporation has a fifty-two week low of $19.75 and a fifty-two week high of $26.48.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, October 23rd. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Gentex had a return on equity of 16.67% and a net margin of 15.15%. The business had revenue of $647.71 million for the quarter, compared to analyst estimates of $669.69 million. During the same quarter last year, the company earned $0.46 earnings per share. Gentex’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, research analysts forecast that Gentex Corporation will post 2.02 EPS for the current fiscal year.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 21st. Stockholders of record on Wednesday, October 7th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Wednesday, October 7th. Gentex’s dividend payout ratio (DPR) is presently 25.81%.

About Gentex

Gentex Corporation (NASDAQ:GNTX) is a technology manufacturer headquartered in Zeeland, Michigan. Founded in 1974, the company develops products primarily for the automotive industry, along with selected applications in the aerospace and fire-protection markets.

Gentex is best known for its automatic-dimming rearview and side-view mirrors, which use electrochromic technology to reduce glare. Its automotive product portfolio also includes camera-based driver-assistance systems, digital vision and sensing technologies, connected-car products, overhead console systems, and HomeLink universal garage-door and home-control systems.