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 eight brokerages that are currently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $27.00.

A number of analysts have recently issued reports on GNTX shares. Weiss Ratings upgraded shares of Gentex from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. UBS Group reaffirmed a “neutral” rating and set a $25.00 price target (down from $26.00) on shares of Gentex in a report on Thursday, July 9th. Freedom Capital raised shares of Gentex to a “strong-buy” rating in a research note on Friday, March 27th. B. Riley Financial reiterated a “buy” rating and issued a $29.00 price objective (up from $28.00) on shares of Gentex in a report on Monday, April 27th. Finally, Wall Street Zen cut shares of Gentex from a “buy” rating to a “hold” rating in a research report on Sunday.

Gentex Stock Down 0.9%

Gentex stock opened at $23.70 on Friday. Gentex has a 52-week low of $20.48 and a 52-week high of $29.38. The firm has a market capitalization of $5.05 billion, a P/E ratio of 13.31 and a beta of 0.78. The firm has a fifty day moving average of $24.36 and a 200-day moving average of $23.50.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, April 24th. The auto parts company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.44 by $0.04. The business had revenue of $675.44 million for the quarter, compared to the consensus estimate of $649.42 million. Gentex had a return on equity of 16.27% and a net margin of 14.75%.The company’s revenue was up 17.1% on a year-over-year basis. During the same period last year, the business posted $0.42 EPS. On average, research analysts expect that Gentex will post 1.97 EPS for the current fiscal year.

Gentex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, July 8th. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. Gentex’s payout ratio is 26.97%.

Insider Buying and Selling

In other Gentex news, Director Joseph B. Anderson, Jr. sold 5,939 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Brian C. Walker sold 5,939 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. Following the transaction, the director owned 24,205 shares in the company, valued at $556,230.90. This trade represents a 19.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 16,693 shares of company stock worth $385,194. 0.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Gentex

A number of institutional investors have recently modified their holdings of GNTX. Anchor Investment Management LLC bought a new stake in Gentex in the first quarter valued at about $26,000. AdvisorNet Financial Inc lifted its holdings in Gentex by 2,299.0% during the 1st quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock worth $52,000 after buying an additional 2,299 shares during the last quarter. Arax Advisory Partners acquired a new position in shares of Gentex in the 4th quarter worth approximately $52,000. Employees Retirement System of Texas acquired a new position in shares of Gentex in the 4th quarter worth approximately $56,000. Finally, Clearstead Advisors LLC increased its holdings in shares of Gentex by 21.4% in the 4th quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company’s stock valued at $58,000 after acquiring an additional 437 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

About Gentex

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).