Gentex (NASDAQ:GNTX) Given New $23.00 Price Target at UBS Group

Gentex (NASDAQ:GNTX - Free Report) had its price target hoisted by UBS Group from $21.00 to $23.00 in a research note published on Monday,Benzinga reports. They currently have a neutral rating on the auto parts company's stock.

A number of other research analysts have also issued reports on the stock. Robert W. Baird boosted their price target on shares of Gentex from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Friday. The Goldman Sachs Group restated a "neutral" rating on shares of Gentex in a research report on Friday. Baird R W downgraded shares of Gentex from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Guggenheim reduced their price target on shares of Gentex from $30.00 to $24.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, Industrial Alliance Securities set a $25.00 target price on Gentex in a research report on Friday. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $28.28.

Gentex Trading Down 0.1%

GNTX traded down $0.02 on Monday, hitting $23.06. 1,996,948 shares of the company's stock were exchanged, compared to its average volume of 2,261,478. The stock has a market cap of $5.18 billion, a price-to-earnings ratio of 13.49, a P/E/G ratio of 1.14 and a beta of 0.81. The firm has a 50-day moving average price of $22.13 and a 200-day moving average price of $23.77. 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 announced its earnings results on Friday, April 25th. The auto parts company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The firm had revenue of $576.77 million for the quarter, compared to the consensus estimate of $578.68 million. Gentex had a net margin of 17.01% and a return on equity of 16.11%. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 EPS. On average, equities analysts predict that Gentex will post 2.04 EPS for the current year.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, July 9th. Gentex's dividend payout ratio (DPR) is currently 28.07%.

Insider Transactions at Gentex

In related news, Director Joseph B. Anderson, Jr. sold 3,764 shares of Gentex stock in a transaction on Friday, May 16th. The stock was sold at an average price of $22.87, for a total transaction of $86,082.68. Following the completion of the sale, the director directly owned 5,939 shares of the company's stock, valued at $135,824.93. The trade was a 38.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.45% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Gentex

Several hedge funds have recently bought and sold shares of the company. LPL Financial LLC grew its stake in Gentex by 31.6% in the fourth quarter. LPL Financial LLC now owns 189,254 shares of the auto parts company's stock valued at $5,437,000 after acquiring an additional 45,475 shares during the period. Marshall Wace LLP bought a new stake in Gentex during the 4th quarter worth about $10,868,000. Asset Management One Co. Ltd. boosted its stake in shares of Gentex by 5.9% during the 1st quarter. Asset Management One Co. Ltd. now owns 219,454 shares of the auto parts company's stock worth $5,113,000 after buying an additional 12,168 shares during the last quarter. Praxis Investment Management Inc. acquired a new position in Gentex during the first quarter valued at approximately $359,000. Finally, Magnetar Financial LLC bought a new position in Gentex in the fourth quarter valued at approximately $454,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.

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.