Gentex Co. (NASDAQ:GNTX) Receives $36.86 Consensus Target Price from Analysts

Gentex Co. (NASDAQ:GNTX) has been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $36.29.

GNTX has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered 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. B. Riley dropped their price target on Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Monday, July 29th. Robert W. Baird lowered their price objective on Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Monday, July 29th. UBS Group assumed coverage on Gentex in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 target price on the stock. Finally, StockNews.com downgraded shares of Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th.

Insiders Place Their Bets

In other news, major shareholder Corp Gentex bought 3,152,500 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $5.00 per share, with a total value of $15,762,500.00. Following the completion of the transaction, the insider now directly owns 6,463,808 shares in the company, valued at approximately $32,319,040. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.41% of the company’s stock.

Institutional Trading of Gentex

Hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its position in Gentex by 129.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 111,827 shares of the auto parts company’s stock worth $3,652,000 after acquiring an additional 63,152 shares during the period. Thematics Asset Management grew its position in Gentex by 51.2% during the fourth quarter. Thematics Asset Management now owns 523,207 shares of the auto parts company’s stock valued at $17,088,000 after purchasing an additional 177,207 shares in the last quarter. TD Asset Management Inc increased its stake in 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 valued at $168,957,000 after buying an additional 1,363,898 shares during the period. Vanguard Group Inc. lifted its position in Gentex by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 22,280,716 shares of the auto parts company’s stock worth $727,688,000 after buying an additional 163,373 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of Gentex by 91.0% during the 1st quarter. Cetera Investment Advisers now owns 127,876 shares of the auto parts company’s stock valued at $4,619,000 after buying an additional 60,934 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Stock Down 0.5 %

NASDAQ:GNTX opened at $29.00 on Friday. The company has a market cap of $6.70 billion, a PE ratio of 15.34, a P/E/G ratio of 0.99 and a beta of 0.92. The business’s 50 day moving average is $29.96 and its two-hundred day moving average is $32.91. Gentex has a 52 week low of $27.86 and a 52 week high of $37.58.

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

Gentex Dividend Announcement

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 issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Wednesday, October 9th. Gentex’s dividend payout ratio is 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.