Gentex (NASDAQ:GNTX) Shares Gap Down to $34.65

Gentex Co. (NASDAQ:GNTX)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $34.65, but opened at $33.73. Gentex shares last traded at $34.16, with a volume of 413,466 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GNTX shares. JPMorgan Chase & Co. boosted their price target on shares of Gentex from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. StockNews.com upgraded shares of Gentex from a “hold” rating to a “buy” rating in a report on Friday, February 23rd. Guggenheim boosted their price target on shares of Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. The Goldman Sachs Group boosted their price target on shares of Gentex from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Finally, B. Riley boosted their price target on shares of Gentex from $42.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $37.83.

Gentex Stock Performance

The stock has a market cap of $8.03 billion, a P/E ratio of 18.86, a price-to-earnings-growth ratio of 0.73 and a beta of 0.99. The firm’s 50 day moving average is $35.67 and its 200 day moving average is $33.09.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, April 26th. The auto parts company reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. Gentex had a net margin of 18.63% and a return on equity of 19.25%. The firm had revenue of $590.23 million during the quarter, compared to analyst estimates of $600.38 million. During the same quarter in the previous year, the business posted $0.42 EPS. Gentex’s revenue was up 7.2% on a year-over-year basis. As a group, analysts expect that Gentex Co. will post 2.17 EPS for the current fiscal year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Friday, April 5th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $0.48 dividend on an annualized basis and a yield of 1.38%. Gentex’s payout ratio is 26.09%.

Insider Buying and Selling at Gentex

In other Gentex news, Director Richard O. Schaum sold 6,022 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $33.93, for a total transaction of $204,326.46. Following the transaction, the director now owns 62,555 shares in the company, valued at approximately $2,122,491.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Kevin C. Nash sold 13,500 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total value of $446,040.00. Following the sale, the chief financial officer now directly owns 44,321 shares of the company’s stock, valued at approximately $1,464,365.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard O. Schaum sold 6,022 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $33.93, for a total transaction of $204,326.46. Following the completion of the sale, the director now directly owns 62,555 shares in the company, valued at $2,122,491.15. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.

Institutional Trading of Gentex

Large investors have recently made changes to their positions in the business. Neo Ivy Capital Management purchased a new stake in shares of Gentex in the 4th quarter valued at $29,000. National Bank of Canada FI boosted its holdings in Gentex by 159.1% during the fourth quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock worth $30,000 after buying an additional 571 shares in the last quarter. VisionPoint Advisory Group LLC boosted its holdings in Gentex by 123.6% during the third quarter. VisionPoint Advisory Group LLC now owns 1,203 shares of the auto parts company’s stock worth $39,000 after buying an additional 665 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Gentex during the fourth quarter worth $46,000. Finally, Global Retirement Partners LLC boosted its holdings in Gentex by 371.3% during the fourth quarter. Global Retirement Partners LLC now owns 2,738 shares of the auto parts company’s stock worth $89,000 after buying an additional 2,157 shares in 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.