Gentex (NASDAQ:GNTX) Downgraded by Baird R W to “Hold”

Baird R W downgraded shares of Gentex (NASDAQ:GNTX) from a strong-buy rating to a hold rating in a research report report published on Tuesday morning,Zacks.com reports.

Several other equities research analysts have also issued reports on GNTX. B. Riley reissued a “buy” rating and issued a $32.50 price target (down previously from $37.00) on shares of Gentex in a report on Monday, February 3rd. The Goldman Sachs Group cut their price target on Gentex from $28.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Robert W. Baird reissued a “neutral” rating and set a $25.00 price objective (down previously from $31.00) on shares of Gentex in a report on Tuesday. Guggenheim set a $30.00 price objective on Gentex in a report on Wednesday, March 5th. Finally, UBS Group decreased their price target on Gentex from $29.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $29.06.

Gentex Trading Up 2.3 %

NASDAQ:GNTX opened at $21.56 on Tuesday. The firm’s fifty day simple moving average is $23.59 and its 200 day simple moving average is $27.19. The firm has a market capitalization of $4.88 billion, a PE ratio of 12.25, a PEG ratio of 0.84 and a beta of 0.84. Gentex has a 1 year low of $20.28 and a 1 year high of $35.33.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.10). Gentex had a net margin of 17.49% and a return on equity of 16.74%. During the same quarter in the prior year, the company earned $0.50 earnings per share. As a group, analysts anticipate that Gentex will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $0.48 dividend on an annualized basis and a yield of 2.23%. Gentex’s payout ratio is 27.27%.

Institutional Trading of Gentex

A number of large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its holdings in shares of Gentex by 162.4% in the fourth quarter. JPMorgan Chase & Co. now owns 5,249,230 shares of the auto parts company’s stock valued at $150,810,000 after purchasing an additional 3,248,434 shares in the last quarter. Norges Bank bought a new position in Gentex during the fourth quarter worth $51,959,000. Wellington Management Group LLP raised its holdings in Gentex by 6.1% in the 4th quarter. Wellington Management Group LLP now owns 18,023,056 shares of the auto parts company’s stock valued at $517,802,000 after acquiring an additional 1,038,912 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Gentex in the fourth quarter valued at about $24,479,000. Finally, American Century Companies Inc. grew its holdings in shares of Gentex by 66.9% during the 4th quarter. American Century Companies Inc. now owns 1,657,397 shares of the auto parts company’s stock worth $47,617,000 after purchasing an additional 664,389 shares in the last quarter. 86.76% of the stock is owned by institutional investors.

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.