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

Shares of Gentex Corporation (NASDAQ:GNTX - Get Free Report) have received a consensus recommendation of "Hold" from the nine brokerages that are covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $28.31.

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

Gentex Stock Performance

NASDAQ GNTX remained flat at $21.99 during midday trading on Monday. 2,730,377 shares of the company's stock traded hands, compared to its average volume of 1,853,627. The stock has a fifty day moving average of $21.88 and a two-hundred day moving average of $24.23. Gentex has a 52 week low of $20.28 and a 52 week high of $35.32. The firm has a market cap of $4.94 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 1.09 and a beta of 0.82.

Gentex (NASDAQ:GNTX - Get Free Report) last released its 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 return on equity of 16.11% and a net margin of 17.01%. The business had revenue of $576.77 million for the quarter, compared to the consensus estimate of $578.68 million. During the same period last year, the business earned $0.47 earnings per share. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, research analysts anticipate that Gentex will post 2.04 EPS for the current year.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors 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 2.18%. Gentex's dividend payout ratio (DPR) is presently 28.07%.

Insider Activity at Gentex

In related news, Director Joseph B. Anderson, Jr. sold 3,764 shares of Gentex stock in a transaction that occurred 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 owned 5,939 shares of the company's stock, valued at $135,824.93. This trade represents a 38.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.45% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Gentex

A number of hedge funds have recently modified their holdings of the business. Sanctuary Advisors LLC raised its stake in shares of Gentex by 6.0% in the 4th quarter. Sanctuary Advisors LLC now owns 12,994 shares of the auto parts company's stock valued at $367,000 after purchasing an additional 731 shares during the period. Bank of New York Mellon Corp raised its position in Gentex by 16.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,787,311 shares of the auto parts company's stock valued at $80,079,000 after buying an additional 386,461 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Gentex by 6.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 7,445 shares of the auto parts company's stock valued at $214,000 after buying an additional 457 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Gentex in the 4th quarter valued at approximately $892,000. Finally, SVB Wealth LLC acquired a new position in Gentex during the 4th quarter worth approximately $452,000. Institutional investors and hedge funds own 86.76% of the company's stock.

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.