Gentex Corporation (NASDAQ:GNTX) Given Average Recommendation of “Hold” by Brokerages

Gentex Corporation (NASDAQ:GNTX) has been given an average recommendation of “Hold” by the eight analysts that are currently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $26.7143.

A number of research firms have issued reports on GNTX. Robert W. Baird set a $26.00 price objective on shares of Gentex in a report on Wednesday, January 14th. B. Riley Financial lowered their target price on shares of Gentex from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. Wall Street Zen upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research report on Sunday, March 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Gentex in a research note on Thursday, January 22nd. Finally, UBS Group set a $25.00 price target on Gentex in a research report on Monday, February 2nd.

Insider Buying and Selling

In related news, CEO Steven R. Downing sold 35,000 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $24.75, for a total transaction of $866,250.00. Following the completion of the sale, the chief executive officer owned 211,670 shares of the company’s stock, valued at $5,238,832.50. This represents a 14.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kevin C. Nash sold 11,885 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $24.98, for a total transaction of $296,887.30. Following the sale, the chief financial officer owned 59,430 shares in the company, valued at $1,484,561.40. The trade was a 16.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 58,133 shares of company stock worth $1,442,313. Company insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On Gentex

Hedge funds and other institutional investors have recently made changes to their positions in the company. Addison Advisors LLC bought a new position in Gentex in the second quarter valued at approximately $25,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Gentex during the third quarter valued at approximately $38,000. Arax Advisory Partners bought a new stake in Gentex during the fourth quarter worth $52,000. Employees Retirement System of Texas bought a new stake in Gentex during the fourth quarter worth $56,000. Finally, Clearstead Advisors LLC boosted its holdings in shares of Gentex by 82.3% in the 3rd quarter. Clearstead Advisors LLC now owns 2,042 shares of the auto parts company’s stock valued at $58,000 after purchasing an additional 922 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Gentex Stock Performance

GNTX opened at $20.97 on Friday. The stock has a fifty day moving average of $23.65 and a 200-day moving average of $24.69. The company has a market capitalization of $4.52 billion, a P/E ratio of 12.05 and a beta of 0.76. Gentex has a fifty-two week low of $20.28 and a fifty-two week high of $29.38.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, January 30th. The auto parts company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. Gentex had a net margin of 15.19% and a return on equity of 16.05%. The business had revenue of $644.40 million for the quarter, compared to the consensus estimate of $650.90 million. During the same period in the prior year, the company posted $0.39 earnings per share. Gentex’s revenue was up 19.0% compared to the same quarter last year. On average, equities research analysts predict that Gentex will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, April 8th. Gentex’s dividend payout ratio is 27.59%.

Gentex Company Profile

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).