Shares of Gentex Co. (NASDAQ:GNTX - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $27.64 and last traded at $27.70, with a volume of 1639275 shares. The stock had previously closed at $28.00.
Wall Street Analyst Weigh In
A number of research firms recently commented on GNTX. The Goldman Sachs Group reduced their price objective on Gentex from $33.00 to $31.00 and set a "neutral" rating for the company in a research report on Tuesday, October 1st. Guggenheim reduced their price target on shares of Gentex from $35.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday, November 21st. Bank of America lowered their price objective on shares of Gentex from $39.00 to $35.00 and set a "neutral" rating on the stock in a research note on Monday, October 14th. Finally, Robert W. Baird boosted their target price on shares of Gentex from $35.00 to $37.00 and gave the company an "outperform" rating in a research report on Monday, October 28th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Gentex presently has an average rating of "Hold" and a consensus target price of $35.13.
Check Out Our Latest Stock Analysis on GNTX
Gentex Price Performance
The stock's 50-day simple moving average is $29.80 and its two-hundred day simple moving average is $30.52. The firm has a market capitalization of $6.18 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 1.08 and a beta of 0.91.
Gentex Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Wednesday, January 8th. Gentex's dividend payout ratio (DPR) is 25.67%.
Institutional Investors Weigh In On Gentex
A number of institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in shares of Gentex by 179.7% during the third quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company's stock worth $59,404,000 after acquiring an additional 1,285,519 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Gentex by 14.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,989,248 shares of the auto parts company's stock worth $134,475,000 after purchasing an additional 489,689 shares in the last quarter. Bridgewater Associates LP boosted its holdings in shares of Gentex by 249.1% during the 3rd quarter. Bridgewater Associates LP now owns 617,657 shares of the auto parts company's stock valued at $18,338,000 after purchasing an additional 440,725 shares during the last quarter. Citigroup Inc. grew its position in shares of Gentex by 327.8% during the third quarter. Citigroup Inc. now owns 483,842 shares of the auto parts company's stock valued at $14,365,000 after purchasing an additional 370,746 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Gentex by 53.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 905,080 shares of the auto parts company's stock worth $26,872,000 after purchasing an additional 315,164 shares during the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.
Gentex Company Profile
(
Get Free Report)
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.
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