Gentex Co. Plans Quarterly Dividend of $0.12 (NASDAQ:GNTX)

Gentex Co. (NASDAQ:GNTX) announced a quarterly dividend on Friday, August 30th, Zacks reports. Stockholders of record on Wednesday, October 9th will be given a dividend of 0.12 per share by the auto parts company on Wednesday, October 23rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Wednesday, October 9th.

Gentex has increased its dividend by an average of 0.4% per year over the last three years. Gentex has a dividend payout ratio of 20.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Gentex to earn $2.35 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 20.4%.

Gentex Stock Up 1.0 %

Shares of GNTX stock opened at $31.33 on Friday. The stock has a 50-day simple moving average of $31.85 and a 200 day simple moving average of $33.97. The stock has a market capitalization of $7.24 billion, a P/E ratio of 16.58, a P/E/G ratio of 0.91 and a beta of 0.93. Gentex has a fifty-two week low of $27.86 and a fifty-two week high of $37.58.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, July 26th. The auto parts company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.15). The business had revenue of $572.93 million for the quarter, compared to the consensus estimate of $623.28 million. Gentex had a net margin of 17.87% and a return on equity of 17.78%. On average, sell-side analysts anticipate that Gentex will post 2.02 earnings per share for the current year.

Insider Activity

In other Gentex news, major shareholder Corp Gentex purchased 3,152,500 shares of the stock in a transaction dated Friday, August 23rd. The shares were acquired at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the completion of the acquisition, the insider now owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

GNTX has been the subject of a number of research reports. StockNews.com cut shares of Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. Robert W. Baird reduced their price objective on Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Monday, July 29th. BNP Paribas lowered Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 target price on the stock. in a research report on Tuesday, July 30th. B. Riley decreased their price target on Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. cut their price objective on Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a report 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 data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $37.33.

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.