Gentex Co. (GNTX) to Issue Quarterly Dividend of $0.12 on April 17th

Gentex Co. (NASDAQ:GNTXGet Free Report) announced a quarterly dividend on Tuesday, March 5th, Zacks reports. Stockholders of record on Friday, April 5th will be given a dividend of 0.12 per share by the auto parts company on Wednesday, April 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Thursday, April 4th.

Gentex has raised its dividend by an average of 0.4% per year over the last three years. Gentex has a payout ratio of 19.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Gentex to earn $2.44 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 19.7%.

Gentex Stock Performance

Shares of NASDAQ GNTX opened at $36.14 on Tuesday. The stock has a 50 day moving average price of $35.36 and a 200 day moving average price of $32.71. The stock has a market capitalization of $8.37 billion, a PE ratio of 19.64, a price-to-earnings-growth ratio of 0.97 and a beta of 0.99. Gentex has a 52 week low of $25.85 and a 52 week high of $37.58.

Gentex (NASDAQ:GNTXGet Free Report) last released its earnings results on Friday, January 26th. The auto parts company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.06. Gentex had a net margin of 18.63% and a return on equity of 19.25%. The business had revenue of $589.13 million during the quarter, compared to analysts’ expectations of $563.42 million. During the same period last year, the business earned $0.37 earnings per share. The firm’s revenue was up 19.3% on a year-over-year basis. As a group, research analysts forecast that Gentex will post 2.16 EPS for the current year.

Insider Buying and Selling at Gentex

In other Gentex news, Director Richard O. Schaum sold 6,022 shares of Gentex stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $33.93, for a total transaction of $204,326.46. Following the completion of the transaction, the director now owns 62,555 shares in the company, valued at approximately $2,122,491.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Kevin C. Nash sold 13,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total transaction of $446,040.00. Following the completion of the sale, the chief financial officer now owns 44,321 shares in the company, valued at approximately $1,464,365.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard O. Schaum sold 6,022 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $33.93, for a total value of $204,326.46. Following the completion of the transaction, the director now owns 62,555 shares in the company, valued at approximately $2,122,491.15. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Gentex

Several hedge funds have recently bought and sold shares of the company. Point72 Europe London LLP bought a new position in shares of Gentex in the fourth quarter worth approximately $25,000. Belpointe Asset Management LLC lifted its position in Gentex by 414.3% during the first quarter. Belpointe Asset Management LLC now owns 900 shares of the auto parts company’s stock valued at $25,000 after buying an additional 725 shares during the period. Covestor Ltd boosted its stake in Gentex by 79.2% during the first quarter. Covestor Ltd now owns 1,887 shares of the auto parts company’s stock worth $55,000 after acquiring an additional 834 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Gentex by 31.7% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 2,774 shares of the auto parts company’s stock worth $78,000 after purchasing an additional 667 shares in the last quarter. Finally, Wahed Invest LLC grew its position in Gentex by 12.1% during the 2nd quarter. Wahed Invest LLC now owns 3,401 shares of the auto parts company’s stock valued at $100,000 after purchasing an additional 368 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lifted their price target on Gentex from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. The Goldman Sachs Group increased their price objective on shares of Gentex from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Guggenheim raised their target price on shares of Gentex from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. B. Riley increased their price target on shares of Gentex from $42.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, StockNews.com upgraded Gentex from a “hold” rating to a “buy” rating in a report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.67.

View Our Latest Stock Analysis on Gentex

About Gentex

(Get Free Report)

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.

See Also

Dividend History for Gentex (NASDAQ:GNTX)

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