Gentex (NASDAQ:GNTX) Stock Rating Lowered by BNP Paribas

BNP Paribas downgraded shares of Gentex (NASDAQ:GNTX) from an outperform rating to a neutral rating in a research note published on Tuesday, Marketbeat Ratings reports. The brokerage currently has $34.00 target price on the auto parts company’s stock.

Other equities research analysts have also recently issued reports about the stock. StockNews.com cut shares of Gentex from a buy rating to a hold rating in a research note on Thursday, July 4th. B. Riley lowered their price objective on shares of Gentex from $44.00 to $41.00 and set a buy rating on the stock in a research note on Monday, July 29th. Guggenheim raised their price target on shares of Gentex from $40.00 to $41.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. Robert W. Baird decreased their price target on shares of Gentex from $40.00 to $38.00 and set an outperform rating on the stock in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Gentex from $36.00 to $35.00 and set a neutral rating on the stock in a research note on Monday, July 22nd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and an average target price of $37.33.

Gentex Trading Down 2.0 %

Shares of NASDAQ GNTX opened at $29.85 on Tuesday. The stock has a market cap of $6.90 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 0.93 and a beta of 0.93. Gentex has a 52 week low of $27.86 and a 52 week high of $37.58. The company’s 50-day moving average price is $33.62 and its 200 day moving average price is $34.47.

Gentex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 17th. Investors of record on Friday, July 5th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $0.48 annualized dividend and a dividend yield of 1.61%. Gentex’s dividend payout ratio is presently 25.40%.

Insider Activity at Gentex

In related news, Director Joseph B. Anderson, Jr. sold 4,716 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $34.46, for a total value of $162,513.36. Following the transaction, the director now owns 3,764 shares in the company, valued at $129,707.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.41% of the stock is currently owned by insiders.

Institutional Trading of Gentex

A number of hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new position in Gentex in the fourth quarter worth $89,843,000. Scharf Investments LLC boosted its holdings in shares of Gentex by 36,001.4% during the second quarter. Scharf Investments LLC now owns 2,278,357 shares of the auto parts company’s stock valued at $76,803,000 after acquiring an additional 2,272,046 shares during the period. First Trust Advisors LP boosted its holdings in shares of Gentex by 301.6% during the fourth quarter. First Trust Advisors LP now owns 2,568,775 shares of the auto parts company’s stock valued at $83,896,000 after acquiring an additional 1,929,150 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Gentex by 27.9% during the fourth quarter. Wellington Management Group LLP now owns 8,728,378 shares of the auto parts company’s stock valued at $285,069,000 after acquiring an additional 1,905,356 shares during the period. Finally, TD Asset Management Inc boosted its holdings in shares of Gentex by 41.2% during the first quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock valued at $168,957,000 after acquiring an additional 1,363,898 shares during the period. Hedge funds and other institutional investors own 86.76% of the company’s stock.

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.