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

Gentex Co. (NASDAQ:GNTX - Get Free Report) announced a quarterly dividend on Wednesday, May 28th, RTT News reports. Shareholders of record on Wednesday, July 9th will be given 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 yield of 2.22%. The ex-dividend date is Wednesday, July 9th.

Gentex has a dividend payout ratio of 25.5% meaning 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 Stock Performance

NASDAQ GNTX traded down $0.20 on Friday, hitting $21.58. The stock had a trading volume of 1,916,760 shares, compared to its average volume of 1,820,108. Gentex has a 52-week low of $20.28 and a 52-week high of $35.32. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 0.84 and a beta of 0.85. The firm has a 50-day moving average of $22.12 and a 200-day moving average of $25.57.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The auto parts company reported $0.43 EPS for the quarter, hitting analysts' consensus estimates of $0.43. The firm had revenue of $576.77 million for the quarter, compared to analyst estimates of $578.68 million. Gentex had a net margin of 17.49% and a return on equity of 16.74%. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 EPS. As a group, research analysts anticipate that Gentex will post 2.04 earnings per share for the current fiscal year.

Insider Transactions at Gentex

In other news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the stock in a transaction dated 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 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 is accessible through this hyperlink. 0.45% of the stock is currently owned by company insiders.

Institutional Trading of Gentex

A number of institutional investors have recently modified their holdings of GNTX. Empowered Funds LLC boosted its holdings in shares of Gentex by 255.6% during the first quarter. Empowered Funds LLC now owns 81,142 shares of the auto parts company's stock worth $1,891,000 after purchasing an additional 58,323 shares during the period. Royal Bank of Canada lifted its holdings 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 worth $4,418,000 after buying an additional 47,150 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in Gentex by 1.8% in 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 buying an additional 23,454 shares during the period. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. UBS Group decreased their price target on shares of Gentex from $29.00 to $21.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. The Goldman Sachs Group decreased their price target on shares of Gentex from $28.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. B. Riley reissued a "buy" rating and issued a $32.50 price target (down previously from $37.00) on shares of Gentex in a report on Monday, February 3rd. Robert W. Baird reissued 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. Finally, Guggenheim decreased their price target on shares of Gentex from $30.00 to $24.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $28.31.

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.