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

Corebridge Financial Inc. trimmed its position in Gentex Co. (NASDAQ:GNTX) by 5.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 257,373 shares of the auto parts company’s stock after selling 14,876 shares during the period. Corebridge Financial Inc. owned 0.11% of Gentex worth $7,394,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Midwest Capital Advisors LLC acquired a new position in Gentex in the 4th quarter worth about $26,000. TD Private Client Wealth LLC increased its stake in shares of Gentex by 138.8% in the fourth quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company’s stock valued at $33,000 after buying an additional 662 shares during the period. Synergy Asset Management LLC bought a new position in Gentex in the 4th quarter valued at approximately $34,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in Gentex by 32.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,419 shares of the auto parts company’s stock worth $70,000 after buying an additional 593 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in Gentex during the 3rd quarter worth approximately $125,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Stock Down 2.0 %

NASDAQ:GNTX opened at $23.40 on Friday. The firm has a market capitalization of $5.32 billion, a P/E ratio of 13.30, a P/E/G ratio of 0.84 and a beta of 0.90. Gentex Co. has a twelve month low of $23.27 and a twelve month high of $36.46. The company has a fifty day moving average of $25.20 and a 200-day moving average of $28.06.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, January 31st. The auto parts company reported $0.39 earnings per share for the quarter, missing the consensus estimate 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 quarter last year, the business posted $0.50 EPS. On average, analysts anticipate that Gentex Co. will post 2.04 EPS for the current fiscal year.

Gentex Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GNTX shares. B. Riley restated a “buy” rating and issued a $32.50 price objective (down from $37.00) on shares of Gentex in a report on Monday, February 3rd. Guggenheim set a $30.00 price target on Gentex in a research note on Wednesday, March 5th. JPMorgan Chase & Co. reduced their target price on Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a 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 dropped their price target on shares of Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Gentex has an average rating of “Hold” and an average target price of $31.81.

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.