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

Shares of Gentex Corporation (NASDAQ:GNTX) have been given a consensus rating of “Hold” by the nine ratings firms that are currently covering the company, Marketbeat reports. Six analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $26.7143.

A number of equities analysts recently issued reports on the stock. Freedom Capital raised shares of Gentex to a “strong-buy” rating in a report on Friday, March 27th. 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 report on Sunday, March 8th. Robert W. Baird set a $26.00 price target on shares of Gentex in a research note on Wednesday, January 14th. Finally, B. Riley Financial reduced their price objective on Gentex from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, February 2nd.

Gentex Stock Performance

Gentex stock opened at $21.85 on Wednesday. Gentex has a one year low of $20.28 and a one year high of $29.38. The stock has a fifty day moving average of $23.00 and a 200 day moving average of $24.07. The stock has a market cap of $4.71 billion, a PE ratio of 12.56 and a beta of 0.76.

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

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, April 8th. This represents a $0.48 annualized dividend and a dividend yield of 2.2%. Gentex’s dividend payout ratio (DPR) is 27.59%.

Insider Activity at Gentex

In related news, CTO Neil Boehm sold 11,248 shares of the 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 directly owned 58,951 shares of the company’s stock, valued at approximately $1,463,163.82. This represents a 16.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $296,887.30. Following the sale, the chief financial officer owned 59,430 shares in the company, valued at approximately $1,484,561.40. The trade was a 16.67% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 58,133 shares of company stock worth $1,442,313. 0.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On Gentex

A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can lifted its stake in Gentex by 14,398.7% in the 4th quarter. Bank of Montreal Can now owns 7,726,057 shares of the auto parts company’s stock worth $179,785,000 after purchasing an additional 7,672,769 shares in the last quarter. Norges Bank bought a new stake in shares of Gentex in the second quarter worth about $51,815,000. Caisse de depot et placement du Quebec increased its holdings in shares of Gentex by 297.0% in the fourth quarter. Caisse de depot et placement du Quebec now owns 3,144,881 shares of the auto parts company’s stock worth $73,181,000 after purchasing an additional 2,352,668 shares during the last quarter. Qube Research & Technologies Ltd lifted its position in shares of Gentex by 370.8% in the second quarter. Qube Research & Technologies Ltd now owns 2,615,981 shares of the auto parts company’s stock worth $57,525,000 after buying an additional 2,060,287 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Gentex by 10.3% during the third quarter. Wellington Management Group LLP now owns 14,828,120 shares of the auto parts company’s stock valued at $419,636,000 after buying an additional 1,383,203 shares during the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

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).