Gentex Co. (NASDAQ:GNTX) Receives Average Recommendation of “Hold” from Brokerages

Shares of Gentex Co. (NASDAQ:GNTX) have been assigned an average rating of “Hold” from the eight brokerages that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $35.13.

GNTX has been the subject of several analyst reports. Guggenheim reduced their price target on shares of Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. The Goldman Sachs Group cut their target price on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. Robert W. Baird boosted their price target on Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Finally, Bank of America dropped their price objective on Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th.

Institutional Trading of Gentex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its position in shares of Gentex by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company’s stock valued at $159,406,000 after acquiring an additional 285,802 shares during the period. JPMorgan Chase & Co. grew its holdings in Gentex by 179.7% during the third quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company’s stock valued at $59,404,000 after purchasing an additional 1,285,519 shares during the period. Barclays PLC increased its position in Gentex by 54.4% in the third quarter. Barclays PLC now owns 107,930 shares of the auto parts company’s stock worth $3,205,000 after buying an additional 38,027 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its stake in shares of Gentex by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 4,259,831 shares of the auto parts company’s stock worth $143,599,000 after buying an additional 43,457 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in shares of Gentex by 10.1% in the third quarter. Thrivent Financial for Lutherans now owns 392,445 shares of the auto parts company’s stock worth $11,651,000 after buying an additional 36,134 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Stock Performance

NASDAQ:GNTX opened at $28.04 on Monday. The firm has a market cap of $6.38 billion, a P/E ratio of 14.99, a P/E/G ratio of 1.08 and a beta of 0.91. Gentex has a fifty-two week low of $27.83 and a fifty-two week high of $37.58. The firm has a 50-day simple moving average of $30.02 and a two-hundred day simple moving average of $30.65.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Wednesday, January 8th. Gentex’s payout ratio is currently 25.67%.

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.