Analysts Set Gentex Co. (NASDAQ:GNTX) Target Price at $36.00

Gentex Co. (NASDAQ:GNTX) has earned a consensus recommendation of “Hold” from the eight ratings firms that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $36.00.

Several analysts recently commented on GNTX shares. Bank of America reduced their target price on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, October 14th. UBS Group began coverage on Gentex in a report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price objective for the company. The Goldman Sachs Group decreased their target price on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st. Robert W. Baird lifted their price target on Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Finally, BNP Paribas lowered Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a report on Tuesday, July 30th.

Insider Activity

In other news, major shareholder Corp Gentex acquired 3,152,500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $5.00 per share, with a total value of $15,762,500.00. Following the completion of the purchase, the insider now directly owns 6,463,808 shares of the company’s stock, valued at $32,319,040. The trade was a 95.20 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Gentex

Large investors have recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Gentex in the 1st quarter valued at approximately $227,000. Empowered Funds LLC acquired a new stake in Gentex in the first quarter valued at approximately $353,000. SG Americas Securities LLC grew its stake in shares of Gentex by 72.2% during the first quarter. SG Americas Securities LLC now owns 8,737 shares of the auto parts company’s stock worth $316,000 after buying an additional 3,663 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Gentex by 6.4% during the first quarter. Sei Investments Co. now owns 131,584 shares of the auto parts company’s stock worth $4,753,000 after buying an additional 7,935 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in shares of Gentex by 1.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 300,533 shares of the auto parts company’s stock valued at $10,855,000 after acquiring an additional 4,126 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Trading Down 1.8 %

GNTX opened at $29.07 on Friday. The stock’s fifty day simple moving average is $29.87 and its 200 day simple moving average is $31.71. Gentex has a 1-year low of $28.30 and a 1-year high of $37.58. The stock has a market cap of $6.61 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 0.97 and a beta of 0.91.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.48 annualized dividend and a yield of 1.65%. Gentex’s dividend payout ratio is presently 25.67%.

About Gentex

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.