Gentex Corporation (NASDAQ:GNTX) Given Average Rating of “Hold” by Brokerages

Gentex Corporation (NASDAQ:GNTX) has received an average recommendation of “Hold” from the eight ratings firms that are covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $27.00.

Several analysts have recently issued reports on GNTX shares. Weiss Ratings upgraded Gentex from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. UBS Group reissued a “neutral” rating and issued a $25.00 price objective (down from $26.00) on shares of Gentex in a research note on Thursday, July 9th. B. Riley Financial restated a “buy” rating and issued a $29.00 target price (up from $28.00) on shares of Gentex in a report on Monday, April 27th. Freedom Capital raised Gentex to a “strong-buy” rating in a research report on Friday, March 27th. Finally, JPMorgan Chase & Co. upped their target price on Gentex from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th.

Insider Buying and Selling

In other Gentex news, Director Richard O. Schaum sold 4,815 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $23.31, for a total transaction of $112,237.65. Following the completion of the transaction, the director owned 81,443 shares of the company’s stock, valued at $1,898,436.33. The trade was a 5.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian C. Walker sold 5,939 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. Following the sale, the director owned 24,205 shares of the company’s stock, valued at $556,230.90. This trade represents a 19.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 16,693 shares of company stock valued at $385,194. Company insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On Gentex

A number of institutional investors have recently made changes to their positions in the business. Hudson Bay Capital Management LP acquired a new stake in shares of Gentex in the third quarter worth $3,613,000. Thompson Siegel & Walmsley LLC grew its position in Gentex by 57.1% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 377,484 shares of the auto parts company’s stock worth $8,784,000 after purchasing an additional 137,245 shares during the last quarter. Clark Capital Management Group Inc. bought a new position in shares of Gentex during the 3rd quarter worth about $8,179,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Gentex by 3,905.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 700,693 shares of the auto parts company’s stock valued at $16,305,000 after buying an additional 683,201 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Gentex by 2,636.4% during the fourth quarter. Pacer Advisors Inc. now owns 799,243 shares of the auto parts company’s stock valued at $18,598,000 after buying an additional 770,035 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors.

Gentex Trading Up 2.6%

Gentex stock opened at $24.91 on Friday. The company has a market capitalization of $5.30 billion, a P/E ratio of 13.99 and a beta of 0.78. The firm’s fifty day simple moving average is $24.41 and its 200-day simple moving average is $23.51. Gentex has a 1-year low of $20.48 and a 1-year high of $29.38.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, April 24th. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. The firm had revenue of $675.44 million during the quarter, compared to analysts’ expectations of $649.42 million. Gentex had a net margin of 14.75% and a return on equity of 16.27%. Gentex’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 earnings per share. On average, equities research analysts predict that Gentex will post 1.97 earnings per share for the current year.

Gentex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Wednesday, July 8th. Gentex’s payout ratio is presently 26.97%.

Gentex Company Profile

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).