Gentex Co. (NASDAQ:GNTX) Given Average Rating of “Hold” by Analysts

Gentex Co. (NASDAQ:GNTX) has received a consensus rating of “Hold” from the eight research firms that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $36.13.

GNTX has been the subject of several recent research reports. UBS Group initiated coverage on shares of Gentex in a research report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 target price for the company. B. Riley reduced their price objective on shares of Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Monday, July 29th. Bank of America reduced their price objective on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. BNP Paribas downgraded 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, JPMorgan Chase & Co. reduced their price objective on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd.

Gentex Price Performance

NASDAQ:GNTX opened at $29.37 on Wednesday. The firm has a 50-day moving average of $29.88 and a 200-day moving average of $32.29. The company has a market cap of $6.79 billion, a PE ratio of 15.54, a PEG ratio of 0.95 and a beta of 0.92. Gentex has a one year low of $27.86 and a one year high of $37.58.

Gentex (NASDAQ:GNTX) last posted its earnings results 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 business had revenue of $572.93 million for the quarter, compared to the consensus estimate of $623.28 million. Gentex had a return on equity of 17.78% and a net margin of 17.87%. On average, equities research analysts expect that Gentex will post 1.96 earnings per share for the current fiscal year.

Gentex Announces Dividend

The business 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 dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Wednesday, October 9th. Gentex’s dividend payout ratio is currently 25.40%.

Insider Activity

In related news, major shareholder Corp Gentex bought 3,152,500 shares of Gentex stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $5.00 per share, with a total value of $15,762,500.00. Following the transaction, the insider now directly owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.41% of the company’s stock.

Institutional Trading of Gentex

Institutional investors have recently modified their holdings of the business. Quest Partners LLC purchased a new stake in shares of Gentex during the 2nd quarter valued at approximately $31,000. Gladius Capital Management LP purchased a new stake in shares of Gentex during the 2nd quarter valued at approximately $34,000. EverSource Wealth Advisors LLC lifted its stake in shares of Gentex by 173.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock valued at $42,000 after buying an additional 850 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Gentex by 227.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock valued at $54,000 after buying an additional 1,269 shares in the last quarter. Finally, HHM Wealth Advisors LLC purchased a new stake in shares of Gentex during the 2nd quarter valued at approximately $67,000. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

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.