Gentex Co. (NASDAQ:GNTX) Receives $28.31 Consensus PT from Brokerages

Shares of Gentex Co. (NASDAQ:GNTX) have earned an average recommendation of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $28.31.

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

Insider Activity

In other Gentex news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the stock in a transaction 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 transaction, the director now directly owns 5,939 shares in the company, valued at $135,824.93. This represents a 38.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On Gentex

Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in Gentex by 162.4% during the 4th quarter. JPMorgan Chase & Co. now owns 5,249,230 shares of the auto parts company’s stock worth $150,810,000 after buying an additional 3,248,434 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in Gentex by 487.7% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,447,651 shares of the auto parts company’s stock worth $80,330,000 after buying an additional 2,860,969 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Gentex by 142.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,589,585 shares of the auto parts company’s stock worth $106,937,000 after purchasing an additional 2,695,117 shares during the last quarter. American Century Companies Inc. lifted its stake in Gentex by 148.5% during the first quarter. American Century Companies Inc. now owns 4,119,232 shares of the auto parts company’s stock worth $95,978,000 after purchasing an additional 2,461,835 shares during the last quarter. Finally, Burgundy Asset Management Ltd. lifted its stake in Gentex by 40.1% during 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 purchasing an additional 2,211,392 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.

Gentex Stock Down 0.9%

GNTX opened at $22.05 on Thursday. Gentex has a 52-week low of $20.28 and a 52-week high of $35.32. The company has a 50 day moving average of $21.78 and a two-hundred day moving average of $25.05. The company has a market cap of $4.96 billion, a P/E ratio of 12.53, a P/E/G ratio of 0.84 and a beta of 0.82.

Gentex (NASDAQ:GNTX) last announced its quarterly 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. Gentex had a net margin of 17.49% and a return on equity of 16.74%. The firm had revenue of $576.77 million during the quarter, compared to analysts’ expectations of $578.68 million. During the same period in the prior year, the company earned $0.47 EPS. The firm’s revenue was down 2.3% on a year-over-year basis. Research analysts anticipate that Gentex will post 2.04 earnings per share for the current year.

Gentex Announces Dividend

The firm also recently declared 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. This represents a $0.48 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Wednesday, July 9th. Gentex’s dividend payout ratio is currently 28.07%.

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.