Gentex (NASDAQ:GNTX) Hits New 52-Week Low – Should You Sell?

Gentex Co. (NASDAQ:GNTX) shares reached a new 52-week low on Wednesday . The company traded as low as $27.64 and last traded at $27.70, with a volume of 1639275 shares changing hands. The stock had previously closed at $28.00.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Guggenheim decreased their price objective on shares of Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Robert W. Baird upped their price target on Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Bank of America dropped their price objective on Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Finally, The Goldman Sachs Group reduced their target price on Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Gentex presently has a consensus rating of “Hold” and a consensus price target of $35.13.

Gentex Price Performance

The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 1.08 and a beta of 0.91. The stock has a 50 day moving average price of $29.74 and a 200-day moving average price of $30.50.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Wednesday, January 8th. Gentex’s payout ratio is 25.67%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GNTX. EdgePoint Investment Group Inc. increased its position 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 purchasing an additional 111,500 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Gentex by 5.6% in the 3rd 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 during the period. Disciplined Growth Investors Inc. MN increased its holdings in shares of Gentex by 5.5% during the 3rd 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. Burgundy Asset Management Ltd. raised its position in shares of Gentex by 3.0% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,343,880 shares of the auto parts company’s stock valued at $146,432,000 after buying an additional 126,416 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Gentex by 14.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,989,248 shares of the auto parts company’s stock valued at $134,475,000 after acquiring an additional 489,689 shares during the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Company Profile

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.