Analysts Set Gentex Corporation (NASDAQ:GNTX) PT at $28.31

Shares of Gentex Corporation (NASDAQ:GNTX) have been given an average rating of “Hold” by the nine analysts that are presently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $28.31.

A number of brokerages have recently weighed in on GNTX. Baird R W lowered shares of Gentex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. 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. The Goldman Sachs Group reduced their target price on Gentex from $28.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. UBS Group lowered their target price on Gentex from $29.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Finally, Guggenheim reduced their price target on Gentex from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd.

Insider Buying and Selling

In other news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the firm’s 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 transaction, the director directly owned 5,939 shares in the company, valued at $135,824.93. This trade represents a 38.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.45% of the company’s stock.

Institutional Trading of Gentex

Several institutional investors have recently bought and sold shares of GNTX. Bank of New York Mellon Corp raised its holdings in Gentex by 16.1% in the fourth quarter. Bank of New York Mellon Corp now owns 2,787,311 shares of the auto parts company’s stock worth $80,079,000 after buying an additional 386,461 shares during the last quarter. LPL Financial LLC increased its position in shares of Gentex by 31.6% during 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 in the last quarter. Raymond James Financial Inc. purchased a new position in Gentex in the 4th quarter worth approximately $24,479,000. Marshall Wace LLP bought a new position in Gentex in the 4th quarter valued at approximately $10,868,000. Finally, AlphaQuest LLC purchased a new stake in Gentex during the 4th quarter valued at $2,312,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Price Performance

NASDAQ GNTX opened at $23.22 on Monday. Gentex has a 1 year low of $20.28 and a 1 year high of $35.32. The stock has a market capitalization of $5.22 billion, a PE ratio of 13.58, a PEG ratio of 1.13 and a beta of 0.81. The business’s 50-day moving average is $21.94 and its 200 day moving average is $24.16.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data 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 firm had revenue of $576.77 million for the quarter, compared to analyst estimates of $578.68 million. During the same period last year, the company earned $0.47 EPS. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Gentex will post 2.04 earnings per share for the current year.

Gentex Dividend Announcement

The business also recently disclosed 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. This represents a $0.48 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Wednesday, July 9th. Gentex’s payout ratio is 28.07%.

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.