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

Gentex Co. (NASDAQ:GNTX) has received an average rating of “Hold” from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $28.31.

A number of equities research analysts have recently weighed in on GNTX shares. Robert W. Baird restated a “neutral” rating and set a $25.00 target price (down previously from $31.00) on shares of Gentex in a research report on Tuesday, April 15th. Guggenheim dropped their target price on Gentex from $30.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. UBS Group dropped their target price on Gentex from $29.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. The Goldman Sachs Group dropped their target price on Gentex from $28.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Finally, Baird R W downgraded Gentex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th.

Insider Activity at Gentex

In related news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the company’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $22.87, for a total value of $86,082.68. Following the completion of the sale, the director now owns 5,939 shares in the company, valued at approximately $135,824.93. This represents a 38.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.45% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Gentex

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Gentex by 4.1% in the first quarter. Vanguard Group Inc. now owns 22,581,938 shares of the auto parts company’s stock worth $526,159,000 after acquiring an additional 886,785 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Gentex by 6.1% in the fourth quarter. Wellington Management Group LLP now owns 18,023,056 shares of the auto parts company’s stock worth $517,802,000 after acquiring an additional 1,038,912 shares in the last quarter. Burgundy Asset Management Ltd. increased its holdings in shares of Gentex by 40.1% in the first quarter. Burgundy Asset Management Ltd. now owns 7,728,209 shares of the auto parts company’s stock worth $180,067,000 after acquiring an additional 2,211,392 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Gentex by 46.2% in the first quarter. JPMorgan Chase & Co. now owns 7,673,701 shares of the auto parts company’s stock worth $178,797,000 after acquiring an additional 2,424,471 shares in the last quarter. Finally, Ariel Investments LLC increased its holdings in shares of Gentex by 10.7% in the first quarter. Ariel Investments LLC now owns 7,082,055 shares of the auto parts company’s stock worth $165,012,000 after acquiring an additional 687,329 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors.

Gentex Stock Performance

Gentex stock opened at $21.64 on Thursday. The firm has a market cap of $4.86 billion, a P/E ratio of 12.30, a P/E/G ratio of 0.84 and a beta of 0.81. The business’s fifty day moving average is $21.78 and its two-hundred day moving average is $25.09. Gentex has a 52 week low of $20.28 and a 52 week high of $35.32.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, April 25th. The auto parts company reported $0.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.43. The company had revenue of $576.77 million during the quarter, compared to the consensus estimate of $578.68 million. Gentex had a return on equity of 16.74% and a net margin of 17.49%. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.47 earnings per share. On average, equities research analysts predict that Gentex will post 2.04 earnings per share for the current year.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, July 9th. This represents a $0.48 dividend on an annualized basis and a yield of 2.22%. Gentex’s dividend payout ratio is presently 28.07%.

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.