Gentex (NASDAQ:GNTX) Reaches New 1-Year Low – Here’s What Happened

Gentex Co. (NASDAQ:GNTX) reached a new 52-week low on Wednesday . The company traded as low as $27.64 and last traded at $27.70, with a volume of 1639275 shares. The stock had previously closed at $28.00.

Analysts Set New Price Targets

Several analysts recently issued reports on GNTX shares. Guggenheim reduced their price objective on shares of Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Bank of America reduced their price target on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. The Goldman Sachs Group dropped their target price on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Finally, Robert W. Baird boosted their target price on Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $35.13.

Gentex Trading Down 1.9 %

The firm has a 50 day moving average price of $29.74 and a 200-day moving average price of $30.50. The firm has a market cap of $6.18 billion, a PE ratio of 14.53, a PEG ratio of 1.08 and a beta of 0.91.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Wednesday, January 8th. Gentex’s dividend payout ratio (DPR) is presently 25.67%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Quest Partners LLC acquired a new position in Gentex during the second quarter worth approximately $31,000. EverSource Wealth Advisors LLC increased its holdings in shares of Gentex by 173.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock valued at $42,000 after acquiring an additional 850 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its position in Gentex by 227.8% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock valued at $54,000 after purchasing an additional 1,269 shares during the last quarter. HHM Wealth Advisors LLC acquired a new stake in Gentex during the 2nd quarter worth $67,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Gentex during the 3rd quarter worth $125,000. 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.