Robert W. Baird Increases Gentex (NASDAQ:GNTX) Price Target to $37.00

Gentex (NASDAQ:GNTX - Free Report) had its price objective raised by Robert W. Baird from $35.00 to $37.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have an outperform rating on the auto parts company's stock.

A number of other research analysts also recently weighed in on GNTX. The Goldman Sachs Group lowered their price objective on shares of Gentex from $33.00 to $31.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 1st. StockNews.com downgraded Gentex from a "buy" rating to a "hold" rating in a research note on Thursday, July 4th. UBS Group initiated coverage on Gentex in a research report on Wednesday, September 4th. They set a "neutral" rating and a $34.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on Gentex from $36.00 to $35.00 and set a "neutral" rating on the stock in a research report on Monday, July 22nd. Finally, BNP Paribas cut shares of Gentex from an "outperform" rating to a "neutral" rating and set a $34.00 price objective on the stock. in a research note on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $36.00.

Gentex Stock Up 0.2 %

Shares of Gentex stock traded up $0.05 on Monday, reaching $31.30. The company's stock had a trading volume of 2,184,787 shares, compared to its average volume of 1,461,417. Gentex has a 52 week low of $27.86 and a 52 week high of $37.58. The firm's fifty day simple moving average is $29.93 and its two-hundred day simple moving average is $32.17. The company has a market capitalization of $7.24 billion, a price-to-earnings ratio of 16.53, a P/E/G ratio of 0.91 and a beta of 0.92.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its earnings results on Friday, July 26th. The auto parts company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.15). Gentex had a return on equity of 17.78% and a net margin of 17.87%. The business had revenue of $572.93 million during the quarter, compared to analysts' expectations of $623.28 million. As a group, research analysts predict that Gentex will post 1.94 EPS for the current year.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Wednesday, October 9th. Gentex's dividend payout ratio is 25.40%.

Insider Buying and Selling at Gentex

In other Gentex news, major shareholder Corp Gentex purchased 3,152,500 shares of the firm's stock in a transaction 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 acquisition, the insider now directly owns 6,463,808 shares in the company, valued at $32,319,040. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.41% of the company's stock.

Institutional Investors Weigh In On Gentex

Several institutional investors and hedge funds have recently modified their holdings of GNTX. Quest Partners LLC bought a new stake in Gentex in the 2nd quarter valued at $31,000. Gladius Capital Management LP bought a new stake in shares of Gentex in the second quarter worth about $34,000. EverSource Wealth Advisors LLC lifted its position in shares of Gentex by 173.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company's stock worth $42,000 after buying an additional 850 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Gentex by 227.8% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company's stock valued at $54,000 after buying an additional 1,269 shares during the last quarter. Finally, HHM Wealth Advisors LLC purchased a new position in Gentex during the 2nd quarter valued at approximately $67,000. Institutional investors own 86.76% of the company's stock.

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.