Gentex Co. (NASDAQ:GNTX) Receives Consensus Recommendation of “Hold” from Brokerages

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

A number of analysts recently commented on the company. B. Riley dropped their price target on Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Monday, July 29th. BNP Paribas lowered shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 target price on the stock. in a research note on Tuesday, July 30th. UBS Group initiated coverage on Gentex in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Finally, The Goldman Sachs Group dropped their target price on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st.

Gentex Price Performance

GNTX opened at $31.34 on Wednesday. The firm has a market capitalization of $7.25 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 0.91 and a beta of 0.92. Gentex has a one year low of $27.86 and a one year high of $37.58. The business has a 50 day simple moving average of $29.98 and a two-hundred day simple moving average of $32.13.

Gentex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Wednesday, October 9th. Gentex’s dividend payout ratio is currently 25.40%.

Insider Buying and Selling at Gentex

In related news, major shareholder Corp Gentex bought 3,152,500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were bought 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 $32,319,040. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Gentex

Hedge funds and other institutional investors have recently modified their holdings of the company. Van ECK Associates Corp grew its position in Gentex by 74.6% during the third quarter. Van ECK Associates Corp now owns 309,668 shares of the auto parts company’s stock valued at $9,141,000 after buying an additional 132,322 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of Gentex by 104.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 81,506 shares of the auto parts company’s stock valued at $2,420,000 after acquiring an additional 41,732 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Gentex by 4.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 1,330,830 shares of the auto parts company’s stock valued at $39,512,000 after acquiring an additional 59,784 shares during the period. Invesco LLC increased its stake in shares of Gentex by 2.2% in the 3rd quarter. Invesco LLC now owns 31,622 shares of the auto parts company’s stock worth $939,000 after purchasing an additional 679 shares in the last quarter. Finally, Lincluden Management Ltd. raised its holdings in Gentex by 41.7% in the 3rd quarter. Lincluden Management Ltd. now owns 139,671 shares of the auto parts company’s stock worth $4,147,000 after purchasing an additional 41,095 shares during the period. 86.76% of the stock is owned by 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.