Gentex Co. (NASDAQ:GNTX) Receives $37.33 Average Price Target from Brokerages

Shares of Gentex Co. (NASDAQ:GNTX) have been assigned an average recommendation of “Hold” from the seven ratings firms that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $36.86.

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. cut their price target on Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Robert W. Baird reduced their target price on Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Monday, July 29th. UBS Group initiated coverage on Gentex in a research report on Wednesday. They set a “neutral” rating and a $34.00 price target on the stock. BNP Paribas lowered shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research report on Tuesday, July 30th. Finally, StockNews.com lowered shares of Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th.

Insider Transactions at Gentex

In other news, major shareholder Corp Gentex acquired 3,152,500 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $5.00 per share, for a total transaction of $15,762,500.00. Following the acquisition, the insider now owns 6,463,808 shares of the company’s stock, valued at $32,319,040. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Gentex

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Gentex in the fourth quarter valued at about $89,843,000. Scharf Investments LLC increased its holdings in Gentex by 36,001.4% during the 2nd quarter. Scharf Investments LLC now owns 2,278,357 shares of the auto parts company’s stock valued at $76,803,000 after purchasing an additional 2,272,046 shares during the period. First Trust Advisors LP raised its position in Gentex by 301.6% during the 4th quarter. First Trust Advisors LP now owns 2,568,775 shares of the auto parts company’s stock valued at $83,896,000 after purchasing an additional 1,929,150 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Gentex by 27.9% in the 4th quarter. Wellington Management Group LLP now owns 8,728,378 shares of the auto parts company’s stock worth $285,069,000 after buying an additional 1,905,356 shares during the period. Finally, TD Asset Management Inc grew its position in shares of Gentex by 41.2% in the 1st quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock worth $168,957,000 after buying an additional 1,363,898 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.

Gentex Price Performance

Shares of NASDAQ:GNTX opened at $30.59 on Tuesday. Gentex has a 1 year low of $27.86 and a 1 year high of $37.58. The company has a market capitalization of $7.07 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 1.03 and a beta of 0.93. The business has a fifty day moving average price of $31.61 and a two-hundred day moving average price of $33.86.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, July 26th. The auto parts company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.15). The firm had revenue of $572.93 million during the quarter, compared to analysts’ expectations of $623.28 million. Gentex had a net margin of 17.87% and a return on equity of 17.78%. Sell-side analysts anticipate that Gentex will post 1.96 earnings per share for the current year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $0.48 annualized dividend and a yield of 1.57%. Gentex’s payout ratio is presently 25.40%.

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.