Corebridge Financial Inc. Sells 14,876 Shares of Gentex Co. (NASDAQ:GNTX)

Corebridge Financial Inc. reduced its stake in Gentex Co. (NASDAQ:GNTX) by 5.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 257,373 shares of the auto parts company’s stock after selling 14,876 shares during the quarter. Corebridge Financial Inc.’s holdings in Gentex were worth $7,394,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of GNTX. LPL Financial LLC lifted its position in shares of Gentex by 31.6% during the fourth quarter. LPL Financial LLC now owns 189,254 shares of the auto parts company’s stock valued at $5,437,000 after purchasing an additional 45,475 shares in the last quarter. Fox Run Management L.L.C. increased its stake in Gentex by 198.3% in the 4th quarter. Fox Run Management L.L.C. now owns 24,054 shares of the auto parts company’s stock valued at $691,000 after buying an additional 15,990 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Gentex during the 4th quarter worth approximately $1,862,000. American Century Companies Inc. boosted its stake in shares of Gentex by 66.9% in the 4th quarter. American Century Companies Inc. now owns 1,657,397 shares of the auto parts company’s stock worth $47,617,000 after buying an additional 664,389 shares during the last quarter. Finally, Virtu Financial LLC grew its holdings in shares of Gentex by 14.5% in the fourth quarter. Virtu Financial LLC now owns 12,594 shares of the auto parts company’s stock valued at $362,000 after acquiring an additional 1,598 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GNTX. JPMorgan Chase & Co. cut their price objective on Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Guggenheim set a $30.00 price target on shares of Gentex in a research report on Wednesday, March 5th. B. Riley reaffirmed a “buy” rating and issued a $32.50 price objective (down previously from $37.00) on shares of Gentex in a research report on Monday, February 3rd. Robert W. Baird set a $31.00 target price on shares of Gentex in a research report on Monday, February 3rd. Finally, UBS Group decreased their price target on shares of Gentex from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $31.81.

Gentex Trading Down 2.0 %

Shares of GNTX stock opened at $23.40 on Friday. The firm’s 50 day moving average is $25.20 and its 200 day moving average is $28.06. The stock has a market capitalization of $5.32 billion, a P/E ratio of 13.30, a PEG ratio of 0.84 and a beta of 0.90. Gentex Co. has a 12 month low of $23.27 and a 12 month high of $36.46.

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

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.05%. The ex-dividend date is Wednesday, April 9th. Gentex’s dividend payout ratio is 27.27%.

About Gentex

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.