Gentex Co. (NASDAQ:GNTX) Receives $36.00 Average PT from Analysts

Shares of Gentex Co. (NASDAQ:GNTX) have received a consensus rating of “Hold” from the eight analysts that are covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $36.00.

Several brokerages have commented on GNTX. Robert W. Baird increased their price target on Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. B. Riley cut their target price on Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. The Goldman Sachs Group decreased their target price on Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. BNP Paribas downgraded shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research report on Tuesday, July 30th. Finally, Bank of America decreased their price objective on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, October 14th.

Gentex Price Performance

GNTX opened at $29.07 on Friday. The firm has a 50 day simple moving average of $29.87 and a 200 day simple moving average of $31.71. Gentex has a fifty-two week low of $28.30 and a fifty-two week high of $37.58. The company has a market cap of $6.61 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 0.97 and a beta of 0.91.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Wednesday, October 9th. Gentex’s dividend payout ratio (DPR) is presently 25.67%.

Insider Transactions at Gentex

In other news, major shareholder Corp Gentex bought 3,152,500 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the purchase, the insider now owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. The trade was a 95.20 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.41% of the stock is owned by insiders.

Institutional Trading of Gentex

Hedge funds and other institutional investors have recently made changes to their positions in the business. EdgePoint Investment Group Inc. raised its holdings in Gentex by 1.5% during the third quarter. EdgePoint Investment Group Inc. now owns 7,699,919 shares of the auto parts company’s stock worth $228,611,000 after acquiring an additional 111,500 shares in the last quarter. Boston Partners boosted its holdings in shares of Gentex by 4.2% in 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 last quarter. Geode Capital Management LLC grew its stake in shares of Gentex by 5.6% in the third quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company’s stock valued at $159,406,000 after buying an additional 285,802 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in Gentex by 5.5% during the third quarter. Disciplined Growth Investors Inc. MN now owns 4,493,914 shares of the auto parts company’s stock worth $133,424,000 after buying an additional 234,083 shares during the last quarter. Finally, Burgundy Asset Management Ltd. raised its position in Gentex by 3.0% during the second 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 in the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

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.