Gentex Co. (NASDAQ:GNTX) Declares Quarterly Dividend of $0.12

Gentex Co. (NASDAQ:GNTX) declared a quarterly dividend on Wednesday, May 28th, RTT News reports. Stockholders of record on Wednesday, July 9th will be paid a dividend of 0.12 per share by the auto parts company on Wednesday, July 23rd. This represents a $0.48 annualized dividend and a dividend yield of 2.18%.

Gentex has a payout ratio of 25.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Gentex to earn $2.15 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 22.3%.

Gentex Trading Up 1.8%

GNTX stock opened at $22.00 on Wednesday. Gentex has a twelve month low of $20.28 and a twelve month high of $35.32. The firm has a 50 day simple moving average of $22.22 and a 200-day simple moving average of $25.66. The company has a market capitalization of $4.95 billion, a P/E ratio of 12.50, a PEG ratio of 0.84 and a beta of 0.85.

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

Insider Activity at Gentex

In other Gentex news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $22.87, for a total transaction of $86,082.68. Following the completion of the sale, the director now directly owns 5,939 shares of the company’s stock, valued at $135,824.93. This trade represents a 38.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.45% of the stock is currently owned by company insiders.

Institutional Trading of Gentex

Several institutional investors and hedge funds have recently made changes to their positions in GNTX. Empowered Funds LLC lifted its position in shares of Gentex by 255.6% during the 1st quarter. Empowered Funds LLC now owns 81,142 shares of the auto parts company’s stock valued at $1,891,000 after buying an additional 58,323 shares in the last quarter. Royal Bank of Canada lifted its stake in Gentex by 33.1% in the first quarter. Royal Bank of Canada now owns 189,561 shares of the auto parts company’s stock valued at $4,418,000 after buying an additional 47,150 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Gentex by 1.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,321,634 shares of the auto parts company’s stock worth $30,794,000 after acquiring an additional 23,454 shares during the period. 86.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on GNTX. Robert W. Baird reiterated a “neutral” rating and set a $25.00 price target (down previously from $31.00) on shares of Gentex in a research report on Tuesday, April 15th. Baird R W cut Gentex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. The Goldman Sachs Group lowered their target price on Gentex from $28.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. decreased their price target on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Finally, UBS Group cut their price objective on Gentex from $29.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $28.31.

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.