Brokerages Set Gentex Co. (NASDAQ:GNTX) PT at $36.86

Shares of Gentex Co. (NASDAQ:GNTX) have been assigned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $36.86.

Several analysts have recently weighed in on the company. StockNews.com lowered Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. B. Riley lowered their price objective on shares of Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. BNP Paribas downgraded shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 target price on the stock. in a report on Tuesday, July 30th. Robert W. Baird decreased their price target on shares of Gentex from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. cut their price objective on Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd.

Insider Activity

In other Gentex news, major shareholder Corp Gentex acquired 3,152,500 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Gentex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Phoenix Wealth Advisors raised its holdings in shares of Gentex by 3.1% during the second quarter. Phoenix Wealth Advisors now owns 10,196 shares of the auto parts company’s stock worth $344,000 after acquiring an additional 306 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Gentex by 26.3% during the 1st quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company’s stock worth $63,000 after purchasing an additional 363 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of Gentex by 0.9% during the 1st quarter. Toronto Dominion Bank now owns 42,346 shares of the auto parts company’s stock worth $1,530,000 after purchasing an additional 370 shares in the last quarter. Eagle Asset Management Inc. lifted its holdings in shares of Gentex by 0.5% during the 4th quarter. Eagle Asset Management Inc. now owns 69,808 shares of the auto parts company’s stock valued at $2,280,000 after buying an additional 373 shares during the last quarter. Finally, JLB & Associates Inc. grew its stake in shares of Gentex by 1.7% in the 1st quarter. JLB & Associates Inc. now owns 24,381 shares of the auto parts company’s stock valued at $881,000 after buying an additional 416 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Stock Down 4.2 %

Shares of GNTX stock opened at $29.69 on Friday. The business has a 50 day moving average of $30.20 and a two-hundred day moving average of $33.06. The company has a market cap of $6.86 billion, a P/E ratio of 15.71, a PEG ratio of 0.99 and a beta of 0.92. Gentex has a 52 week low of $27.86 and a 52 week high of $37.58.

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

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.62%. Gentex’s dividend payout ratio (DPR) is presently 25.40%.

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.