Gentex Co. (NASDAQ:GNTX) Receives Average Rating of “Hold” from Brokerages

Gentex Co. (NASDAQ:GNTX) has been assigned a consensus rating of “Hold” from the eight brokerages that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $36.00.

Several brokerages recently weighed in on GNTX. 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. Bank of America dropped their price objective on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. UBS Group began coverage on Gentex in a research note on Wednesday, September 4th. They set a “neutral” rating and a $34.00 target price on the stock. BNP Paribas downgraded Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target for the company. in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, July 22nd.

Gentex Price Performance

GNTX opened at $31.34 on Wednesday. The company has a 50 day simple moving average of $29.98 and a two-hundred day simple moving average of $32.13. The firm has a market cap of $7.25 billion, a P/E ratio of 16.58, a PEG ratio of 0.91 and a beta of 0.92. Gentex has a 1-year low of $27.86 and a 1-year high of $37.58.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Wednesday, October 9th. Gentex’s dividend payout ratio (DPR) is presently 25.40%.

Insider Buying and Selling

In other Gentex news, major shareholder Corp Gentex acquired 3,152,500 shares of the stock in a transaction on Friday, August 23rd. The stock was acquired at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the completion of the transaction, the insider now directly owns 6,463,808 shares of the company’s stock, valued at $32,319,040. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Gentex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boston Partners raised its holdings in Gentex by 4.2% during the 1st quarter. Boston Partners now owns 5,706,411 shares of the auto parts company’s stock valued at $206,095,000 after buying an additional 230,873 shares during the period. TD Asset Management Inc raised its stake in shares of Gentex by 41.2% in 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. Burgundy Asset Management Ltd. lifted its holdings in shares of Gentex by 3.0% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,343,880 shares of the auto parts company’s stock worth $146,432,000 after acquiring an additional 126,416 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in shares of Gentex by 1.0% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 4,259,831 shares of the auto parts company’s stock worth $143,599,000 after purchasing an additional 43,457 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Gentex by 14.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,989,248 shares of the auto parts company’s stock valued at $134,475,000 after purchasing an additional 489,689 shares during the last quarter. 86.76% of the stock is currently owned by hedge funds and other 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.