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

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 paid a dividend of 0.12 per share by the auto parts company on Wednesday, July 23rd. This represents a $0.48 dividend on an annualized basis 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. 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 Price Performance

Shares of GNTX stock traded down $0.20 during trading hours on Friday, reaching $21.58. 1,916,760 shares of the company were exchanged, compared to its average volume of 1,821,708. The stock's fifty day moving average is $22.06 and its two-hundred day moving average is $25.48. The company has a market cap of $4.85 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 0.84 and a beta of 0.85. Gentex has a fifty-two week low of $20.28 and a fifty-two week high of $35.32.

Gentex (NASDAQ:GNTX - Get Free Report) last released its earnings results on Friday, April 25th. The auto parts company reported $0.43 EPS 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 analyst estimates of $578.68 million. During the same quarter in the previous year, the business earned $0.47 EPS. The business's quarterly revenue was down 2.3% compared to the same quarter last year. On average, research analysts anticipate that Gentex will post 2.04 earnings per share for the current year.

Insider Activity

In other Gentex news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $22.87, for a total value of $86,082.68. Following the transaction, the director now directly owns 5,939 shares of the company's stock, valued at approximately $135,824.93. The trade was a 38.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.45% of the company's stock.

Institutional Investors Weigh In On Gentex

A number of hedge funds have recently added to or reduced their stakes in GNTX. Empowered Funds LLC raised its position 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 increased its stake in Gentex by 33.1% during the 1st quarter. Royal Bank of Canada now owns 189,561 shares of the auto parts company's stock valued at $4,418,000 after purchasing an additional 47,150 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised 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 buying an additional 23,454 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Baird R W downgraded Gentex from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. B. Riley reaffirmed a "buy" rating and set a $32.50 price target (down previously from $37.00) on shares of Gentex in a report on Monday, February 3rd. The Goldman Sachs Group dropped their price target on Gentex from $28.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Robert W. Baird reiterated a "neutral" rating and issued a $25.00 price target (down from $31.00) on shares of Gentex in a research report on Tuesday, April 15th. Finally, UBS Group decreased their price target on Gentex from $29.00 to $21.00 and set a "neutral" rating on the stock in a research 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. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price 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.