Gentex Corporation (NASDAQ:GNTX) Given Average Recommendation of “Hold” by Analysts

Gentex Corporation (NASDAQ:GNTX) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $26.8333.

GNTX has been the topic of several research analyst reports. Freedom Capital upgraded Gentex to a “strong-buy” rating in a report on Friday, March 27th. Wall Street Zen cut Gentex from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings restated a “hold (c-)” rating on shares of Gentex in a report on Tuesday, June 2nd. JPMorgan Chase & Co. boosted their target price on Gentex from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Finally, UBS Group set a $26.00 target price on Gentex in a report on Sunday, April 26th.

Gentex Stock Performance

GNTX stock opened at $25.86 on Monday. Gentex has a 12-month low of $20.48 and a 12-month high of $29.38. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 14.53 and a beta of 0.79. The business’s 50-day moving average is $23.28 and its 200 day moving average is $23.25.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, April 24th. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.04. Gentex had a return on equity of 16.27% and a net margin of 14.75%.The company had revenue of $675.44 million for the quarter, compared to analysts’ expectations of $649.42 million. During the same period in the previous year, the firm posted $0.42 EPS. Gentex’s revenue was up 17.1% compared to the same quarter last year. As a group, equities analysts forecast that Gentex will post 1.96 EPS for the current fiscal year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, July 8th. Gentex’s payout ratio is currently 26.97%.

Insider Transactions at Gentex

In other news, Director Joseph B. Anderson, Jr. sold 5,939 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $22.98, for a total transaction of $136,478.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard O. Schaum sold 4,815 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $23.31, for a total value of $112,237.65. Following the transaction, the director owned 81,443 shares in the company, valued at approximately $1,898,436.33. This represents a 5.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,693 shares of company stock worth $385,194 in the last ninety days. Insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Clearstead Advisors LLC boosted its holdings in shares of Gentex by 21.4% during the 4th quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company’s stock worth $58,000 after purchasing an additional 437 shares during the last quarter. Gagnon Securities LLC boosted its holdings in shares of Gentex by 0.8% during the 4th quarter. Gagnon Securities LLC now owns 55,672 shares of the auto parts company’s stock worth $1,295,000 after purchasing an additional 458 shares during the last quarter. First Citizens Bank & Trust Co. raised its position in shares of Gentex by 1.6% during the 1st quarter. First Citizens Bank & Trust Co. now owns 30,294 shares of the auto parts company’s stock valued at $662,000 after buying an additional 487 shares during the period. Sei Investments Co. raised its position in shares of Gentex by 0.3% during the 1st quarter. Sei Investments Co. now owns 196,776 shares of the auto parts company’s stock valued at $4,300,000 after buying an additional 521 shares during the period. Finally, Orion Porfolio Solutions LLC raised its position in shares of Gentex by 4.5% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 13,025 shares of the auto parts company’s stock valued at $286,000 after buying an additional 562 shares during the period. 86.76% of the stock is currently 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).