Gentex Corporation (NASDAQ:GNTX) Receives $28.31 Average PT from Analysts

Gentex Corporation (NASDAQ:GNTX - Get Free Report) has earned an average recommendation of "Hold" from the nine analysts that are covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $28.31.

Several brokerages have issued reports on GNTX. UBS Group decreased their target price on shares of Gentex from $29.00 to $21.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Guggenheim lowered their price objective on Gentex from $30.00 to $24.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. The Goldman Sachs Group reduced their target price on Gentex from $28.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Baird R W downgraded Gentex from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, Robert W. Baird reaffirmed a "neutral" rating and set a $25.00 price objective (down from $31.00) on shares of Gentex in a research report on Tuesday, April 15th.

Insider Activity at Gentex

In related news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $22.87, for a total value of $86,082.68. Following the transaction, the director owned 5,939 shares of the company's stock, valued at approximately $135,824.93. This trade represents a 38.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.45% of the stock is owned by insiders.

Institutional Investors Weigh In On Gentex

A number of hedge funds have recently modified their holdings of the business. Oppenheimer Asset Management Inc. grew its holdings in Gentex by 6.5% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 7,445 shares of the auto parts company's stock valued at $214,000 after purchasing an additional 457 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Gentex by 4.6% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 11,875 shares of the auto parts company's stock worth $277,000 after acquiring an additional 521 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in Gentex by 85.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,222 shares of the auto parts company's stock valued at $28,000 after purchasing an additional 563 shares in the last quarter. State of Michigan Retirement System increased its stake in shares of Gentex by 1.1% in the first quarter. State of Michigan Retirement System now owns 54,440 shares of the auto parts company's stock worth $1,268,000 after purchasing an additional 600 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in shares of Gentex by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 63,700 shares of the auto parts company's stock valued at $1,484,000 after purchasing an additional 600 shares during the period. Institutional investors own 86.76% of the company's stock.

Gentex Stock Performance

Shares of Gentex stock traded down $0.11 during midday trading on Monday, hitting $23.11. The company had a trading volume of 1,261,265 shares, compared to its average volume of 1,860,871. Gentex has a 52-week low of $20.28 and a 52-week high of $35.32. The stock has a market capitalization of $5.20 billion, a P/E ratio of 13.51, a P/E/G ratio of 1.13 and a beta of 0.81. The company has a 50 day moving average of $21.94 and a 200 day moving average of $24.16.

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. The firm had revenue of $576.77 million for the quarter, compared to analysts' expectations of $578.68 million. Gentex had a return on equity of 16.11% and a net margin of 17.01%. The company's quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.47 earnings per share. Equities research analysts forecast that Gentex will post 2.04 EPS for the current year.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, July 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.08%. 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.