Gentex Corporation (NASDAQ:GNTX) has received a consensus rating of “Hold” from the twelve brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $21.93.
GNTX has been the subject of a number of recent analyst reports. B. Riley restated a “buy” rating on shares of Gentex in a research report on Wednesday, November 1st. FBR & Co reiterated a “buy” rating and issued a $25.00 target price on shares of Gentex in a research report on Wednesday, October 18th. Zacks Investment Research upgraded shares of Gentex from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Tuesday, October 17th. KeyCorp reiterated a “buy” rating and issued a $25.00 target price on shares of Gentex in a research report on Sunday, October 15th. Finally, ValuEngine lowered shares of Gentex from a “buy” rating to a “hold” rating in a research report on Friday, September 1st.
Gentex (NASDAQ:GNTX) opened at $20.59 on Monday. The company has a market cap of $5,845.56, a price-to-earnings ratio of 16.34, a PEG ratio of 1.67 and a beta of 1.21. Gentex has a 1 year low of $16.59 and a 1 year high of $22.12.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 17th. Investors of record on Friday, January 5th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.40 annualized dividend and a yield of 1.94%. Gentex’s dividend payout ratio (DPR) is presently 31.75%.
Gentex announced that its board has authorized a stock repurchase program on Wednesday, August 23rd that allows the company to repurchase 15,000,000 shares. This repurchase authorization allows the auto parts company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
In other Gentex news, CFO Steven R. Downing sold 8,000 shares of the business’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $19.70, for a total value of $157,600.00. Following the completion of the sale, the chief financial officer now directly owns 47,362 shares of the company’s stock, valued at $933,031.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kevin C. Nash sold 4,320 shares of the business’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $19.70, for a total transaction of $85,104.00. Following the completion of the sale, the insider now directly owns 30,732 shares of the company’s stock, valued at $605,420.40. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. raised its stake in shares of Gentex by 7.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,293 shares of the auto parts company’s stock valued at $100,000 after acquiring an additional 368 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Gentex during the third quarter valued at about $105,000. Ffcm LLC bought a new position in shares of Gentex during the third quarter valued at about $174,000. HPM Partners LLC bought a new position in shares of Gentex during the second quarter valued at about $339,000. Finally, Sheaff Brock Investment Advisors LLC bought a new position in shares of Gentex during the second quarter valued at about $194,000. 81.80% of the stock is owned by institutional investors and hedge funds.
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Gentex Corporation designs and manufactures automatic-dimming rearview mirrors and electronics for the automotive industry, dimmable aircraft windows for the aviation industry, and commercial smoke alarms and signaling devices for the fire protection industry. The Company’s business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.
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