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

Gentex Co. (NASDAQ:GNTX) declared a quarterly dividend on Wednesday, March 3rd, Wall Street Journal reports. Shareholders of record on Friday, April 9th will be paid a dividend of 0.12 per share by the auto parts company on Wednesday, April 21st. This represents a $0.48 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Thursday, April 8th.

Gentex has raised its dividend payment by 25.0% over the last three years and has increased its dividend annually for the last 10 consecutive years. Gentex has a payout ratio of 23.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Gentex to earn $1.94 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 24.7%.

Shares of GNTX stock opened at $36.36 on Wednesday. The firm’s 50-day moving average is $35.76 and its two-hundred day moving average is $32.78. The company has a market capitalization of $8.86 billion, a PE ratio of 29.80, a price-to-earnings-growth ratio of 7.13 and a beta of 1.15. Gentex has a 12 month low of $22.10 and a 12 month high of $37.75.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Thursday, January 28th. The auto parts company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.50 by $0.08. Gentex had a net margin of 18.96% and a return on equity of 16.59%. The company had revenue of $529.60 million during the quarter, compared to analysts’ expectations of $482.66 million. During the same quarter in the previous year, the business posted $0.39 EPS. The firm’s revenue was up 19.3% on a year-over-year basis. As a group, analysts anticipate that Gentex will post 1.36 earnings per share for the current fiscal year.

In other Gentex news, Director Gary F. Goode sold 14,000 shares of the company’s stock in a transaction on Friday, February 12th. The shares were sold at an average price of $35.59, for a total transaction of $498,260.00. Following the completion of the transaction, the director now owns 38,464 shares in the company, valued at approximately $1,368,933.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Matthew Chiodo sold 6,851 shares of the company’s stock in a transaction on Wednesday, March 31st. The stock was sold at an average price of $35.66, for a total transaction of $244,306.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,926 shares of company stock valued at $1,559,307. 0.37% of the stock is owned by company insiders.

GNTX has been the subject of several research analyst reports. B. Riley upped their target price on shares of Gentex from $38.75 to $40.00 and gave the company a “buy” rating in a report on Monday, February 1st. Zacks Investment Research upgraded shares of Gentex from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Wednesday, February 3rd. Seaport Global Securities initiated coverage on shares of Gentex in a report on Thursday, January 28th. They issued a “neutral” rating for the company. Finally, KeyCorp upped their target price on shares of Gentex from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, January 25th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $30.67.

About Gentex

Gentex Corp. is a technology company, which engages in the design, development, and manufacture and supply of digital vision, connected car, dimmable glass, and fire protection products. The firm operates through Automotive Products and Other segments. The Automotive Products segment operates in virtually all of the foregoing facilities.

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Dividend History for Gentex (NASDAQ:GNTX)

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