Gentex Corporation (NASDAQ:GNTX) Given Consensus Rating of "Hold" by Analysts

Key Points

• Gentex has a consensus analyst rating of “Hold”, with six hold ratings, one buy, and one strong buy. The average 1-year price target is $26.67.
• The company recently reported better-than-expected quarterly results, posting EPS of $0.48 versus estimates of $0.44 and revenue of $675.44 million versus expectations of $649.42 million. Revenue rose 17.1% year over year.
• Gentex also announced a quarterly dividend of $0.12 per share, or $0.48 annually, for a 2.0% yield. Meanwhile, insiders sold shares recently and institutional investors own 86.76% of the stock.

Shares of Gentex Corporation (NASDAQ:GNTX - Get Free Report) have received an average rating of "Hold" from the eight brokerages that are presently covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $26.6667.

Several research analysts recently issued reports on the company. Wall Street Zen raised Gentex from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. Robert W. Baird raised their price target on Gentex from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Monday, April 27th. B. Riley Financial restated a "buy" rating and set a $29.00 price target (up from $28.00) on shares of Gentex in a research note on Monday, April 27th. JPMorgan Chase & Co. upped their price objective on shares of Gentex from $27.00 to $28.00 and gave the company a "neutral" rating in a report on Thursday, May 14th. Finally, Freedom Capital raised shares of Gentex to a "strong-buy" rating in a research report on Friday, March 27th.

Insider Buying and Selling at Gentex

In other news, Director Joseph B. Anderson, Jr. sold 5,939 shares of the business's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Brian C. Walker sold 5,939 shares of the company's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $22.98, for a total value of $136,478.22. Following the completion of the transaction, the director directly owned 24,205 shares in the company, valued at approximately $556,230.90. The trade was a 19.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 16,693 shares of company stock worth $385,194. 0.55% of the stock is owned by corporate insiders.

Institutional Trading of Gentex

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its holdings in shares of Gentex by 14,398.7% in the fourth quarter. Bank of Montreal Can now owns 7,726,057 shares of the auto parts company's stock valued at $179,785,000 after purchasing an additional 7,672,769 shares during the period. Caisse de depot et placement du Quebec lifted its holdings in shares of Gentex by 297.0% during the fourth quarter. Caisse de depot et placement du Quebec now owns 3,144,881 shares of the auto parts company's stock worth $73,181,000 after purchasing an additional 2,352,668 shares during the period. Norges Bank acquired a new stake in shares of Gentex during the fourth quarter worth about $52,767,000. Wellington Management Group LLP boosted its position in Gentex by 10.3% in the third quarter. Wellington Management Group LLP now owns 14,828,120 shares of the auto parts company's stock valued at $419,636,000 after buying an additional 1,383,203 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Gentex by 25.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,629,380 shares of the auto parts company's stock valued at $154,271,000 after buying an additional 1,349,445 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company's stock.

Gentex Stock Up 2.1%

Shares of GNTX opened at $23.86 on Friday. The company has a 50 day moving average of $24.30 and a two-hundred day moving average of $23.49. Gentex has a twelve month low of $20.48 and a twelve month high of $29.38. The company has a market cap of $5.08 billion, a price-to-earnings ratio of 13.40 and a beta of 0.78.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.04. The business had revenue of $675.44 million for the quarter, compared to the consensus estimate of $649.42 million. Gentex had a return on equity of 16.27% and a net margin of 14.75%.The business's quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 earnings per share. On average, sell-side analysts expect that Gentex will post 1.97 EPS for the current year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, July 8th. This represents a $0.48 dividend on an annualized basis and a yield of 2.0%. Gentex's dividend payout ratio is presently 26.97%.

About Gentex

Gentex Corporation NASDAQ: GNTX is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company's primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world's leading original equipment manufacturers (OEMs).

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