Gentex Corporation (NASDAQ:GNTX) Receives Consensus Recommendation of “Hold” from Analysts

Gentex Corporation (NASDAQ:GNTX) has earned an average recommendation of “Hold” from the eight analysts that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $26.7143.

GNTX has been the topic of a number of analyst reports. B. Riley Financial lowered their price objective on shares of Gentex from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd. UBS Group set a $25.00 target price on shares of Gentex in a research note on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gentex in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Robert W. Baird set a $26.00 price target on shares of Gentex in a report on Wednesday, January 14th.

Gentex Stock Up 0.2%

GNTX opened at $21.63 on Friday. The business has a 50 day moving average price of $23.74 and a two-hundred day moving average price of $24.76. The company has a market cap of $4.66 billion, a PE ratio of 12.43 and a beta of 0.76. Gentex has a 52 week low of $20.28 and a 52 week high of $29.38.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, January 30th. The auto parts company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $644.40 million for the quarter, compared to the consensus estimate of $650.90 million. Gentex had a return on equity of 16.05% and a net margin of 15.19%.The company’s revenue was up 19.0% on a year-over-year basis. During the same period last year, the business posted $0.39 EPS. As a group, sell-side analysts expect that Gentex will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 8th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, April 8th. This represents a $0.48 annualized dividend and a yield of 2.2%. Gentex’s payout ratio is presently 27.59%.

Insider Activity

In other news, CFO Kevin C. Nash sold 11,885 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $24.98, for a total value of $296,887.30. Following the completion of the sale, the chief financial officer directly owned 59,430 shares of the company’s stock, valued at $1,484,561.40. This trade represents a 16.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Neil Boehm sold 11,248 shares of Gentex stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $24.82, for a total value of $279,175.36. Following the completion of the sale, the chief technology officer owned 58,951 shares in the company, valued at approximately $1,463,163.82. This trade represents a 16.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 58,133 shares of company stock valued at $1,442,313 in the last three months. 0.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Gentex

A number of institutional investors and hedge funds have recently made changes to their positions in GNTX. Clearstead Advisors LLC boosted its holdings in Gentex by 21.4% during the fourth quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company’s stock worth $58,000 after buying an additional 437 shares in the last quarter. Gagnon Securities LLC increased its holdings in Gentex by 0.8% in the fourth quarter. Gagnon Securities LLC now owns 55,672 shares of the auto parts company’s stock valued at $1,295,000 after buying an additional 458 shares in the last quarter. CWM LLC increased its holdings in Gentex by 5.1% in the third quarter. CWM LLC now owns 9,648 shares of the auto parts company’s stock valued at $273,000 after buying an additional 467 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Gentex by 0.7% during the 3rd quarter. Arizona State Retirement System now owns 66,519 shares of the auto parts company’s stock valued at $1,882,000 after acquiring an additional 487 shares during the period. Finally, First Citizens Bank & Trust Co. boosted its stake in shares of Gentex by 1.9% during the 4th quarter. First Citizens Bank & Trust Co. now owns 29,807 shares of the auto parts company’s stock worth $694,000 after acquiring an additional 559 shares in the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

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).