Gentex Co. (NASDAQ:GNTX) Receives Average Rating of "Hold" from Analysts

Shares of Gentex Co. (NASDAQ:GNTX - Get Free Report) have received an average rating of "Hold" from the eight brokerages that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $36.00.

Several research firms recently commented on GNTX. B. Riley reduced their target price on Gentex from $44.00 to $41.00 and set a "buy" rating for the company in a research report on Monday, July 29th. Robert W. Baird increased their price objective on Gentex from $35.00 to $37.00 and gave the company an "outperform" rating in a research report on Monday, October 28th. BNP Paribas downgraded Gentex from an "outperform" rating to a "neutral" rating and set a $34.00 target price for the company. in a research report on Tuesday, July 30th. JPMorgan Chase & Co. reduced their price target on shares of Gentex from $36.00 to $35.00 and set a "neutral" rating on the stock in a research report on Monday, July 22nd. Finally, The Goldman Sachs Group lowered their price objective on shares of Gentex from $33.00 to $31.00 and set a "neutral" rating for the company in a report on Tuesday, October 1st.

Insider Transactions at Gentex

In related news, major shareholder Corp Gentex purchased 3,152,500 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the acquisition, the insider now owns 6,463,808 shares of the company's stock, valued at approximately $32,319,040. This represents a 95.20 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.41% of the company's stock.

Institutional Investors Weigh In On Gentex

Hedge funds and other institutional investors have recently modified their holdings of the business. Phoenix Wealth Advisors increased its position in shares of Gentex by 3.1% during the second quarter. Phoenix Wealth Advisors now owns 10,196 shares of the auto parts company's stock worth $344,000 after acquiring an additional 306 shares during the period. Lindenwold Advisors INC raised its position in Gentex by 2.8% during the 3rd quarter. Lindenwold Advisors INC now owns 12,539 shares of the auto parts company's stock valued at $372,000 after purchasing an additional 347 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of Gentex by 0.9% during the first quarter. Toronto Dominion Bank now owns 42,346 shares of the auto parts company's stock valued at $1,530,000 after buying an additional 370 shares during the period. United Services Automobile Association raised its holdings in shares of Gentex by 2.5% in the second quarter. United Services Automobile Association now owns 17,447 shares of the auto parts company's stock valued at $588,000 after acquiring an additional 427 shares in the last quarter. Finally, Harfst & Associates Inc. lifted its stake in Gentex by 0.7% in the second quarter. Harfst & Associates Inc. now owns 66,692 shares of the auto parts company's stock worth $2,248,000 after acquiring an additional 450 shares during the period. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Gentex Stock Performance

Shares of Gentex stock traded down $0.23 on Friday, hitting $30.15. The company had a trading volume of 1,256,520 shares, compared to its average volume of 1,621,904. The stock has a market capitalization of $6.86 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 0.97 and a beta of 0.91. Gentex has a 1 year low of $28.30 and a 1 year high of $37.58. The stock has a 50 day moving average of $29.87 and a 200-day moving average of $31.79.

Gentex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Wednesday, October 9th. Gentex's 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.