Gentex (NASDAQ:GNTX) Price Target Cut to $32.00 by Analysts at JPMorgan Chase & Co.

Gentex (NASDAQ:GNTX - Free Report) had its price target cut by JPMorgan Chase & Co. from $34.00 to $32.00 in a research report released on Monday,Benzinga reports. They currently have a neutral rating on the auto parts company's stock.

Other equities analysts also recently issued research reports about the stock. Robert W. Baird upped their price objective on shares of Gentex from $35.00 to $37.00 and gave the company an "outperform" rating in a report on Monday, October 28th. Guggenheim cut their price objective on shares of Gentex from $35.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, November 21st. Finally, Bank of America cut their price objective on shares of Gentex from $39.00 to $35.00 and set a "neutral" rating on the stock in a report on Monday, October 14th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $33.06.

Gentex Stock Performance

NASDAQ:GNTX traded down $0.26 during trading hours on Monday, reaching $25.04. The company's stock had a trading volume of 2,196,071 shares, compared to its average volume of 1,953,653. The company has a market capitalization of $5.69 billion, a P/E ratio of 14.23, a price-to-earnings-growth ratio of 0.86 and a beta of 0.91. Gentex has a 12 month low of $24.57 and a 12 month high of $37.58. The stock has a 50 day moving average price of $28.61 and a two-hundred day moving average price of $29.60.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The auto parts company reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.10). Gentex had a return on equity of 16.74% and a net margin of 17.49%. During the same quarter in the prior year, the company posted $0.50 earnings per share. As a group, analysts predict that Gentex will post 2.1 EPS for the current fiscal year.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, January 8th. This represents a $0.48 dividend on an annualized basis and a yield of 1.92%. Gentex's dividend payout ratio is currently 27.27%.

Institutional Investors Weigh In On Gentex

A number of large investors have recently bought and sold shares of the company. Inceptionr LLC acquired a new position in Gentex in the fourth quarter valued at approximately $1,134,000. Raymond James Financial Inc. acquired a new position in Gentex in the fourth quarter valued at approximately $24,479,000. Aigen Investment Management LP acquired a new position in Gentex in the fourth quarter valued at approximately $462,000. Proficio Capital Partners LLC acquired a new position in Gentex in the fourth quarter valued at approximately $892,000. Finally, Victory Capital Management Inc. lifted its holdings in Gentex by 65.2% in the fourth quarter. Victory Capital Management Inc. now owns 73,936 shares of the auto parts company's stock valued at $2,124,000 after acquiring an additional 29,168 shares during the period. Hedge funds and other institutional investors own 86.76% of the company's stock.

Gentex Company Profile

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.