Brokerages Set Gentex Corporation (NASDAQ:GNTX) PT at $27.86

Shares of Gentex Corporation (NASDAQ:GNTX) have been given a consensus recommendation of “Hold” by the nine research firms that are covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $27.8571.

GNTX has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on Gentex from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, October 20th. The Goldman Sachs Group set a $27.00 price target on Gentex and gave the company a “neutral” rating in a research report on Monday, October 27th. Weiss Ratings restated a “hold (c)” rating on shares of Gentex in a research note on Wednesday, October 8th. Robert W. Baird set a $26.00 target price on shares of Gentex in a research note on Wednesday. Finally, UBS Group reissued a “neutral” rating and set a $29.00 target price (up from $28.00) on shares of Gentex in a report on Monday, October 6th.

Gentex Price Performance

Shares of GNTX stock opened at $23.93 on Friday. The firm has a market cap of $5.24 billion, a P/E ratio of 14.08 and a beta of 0.78. Gentex has a 1-year low of $20.28 and a 1-year high of $29.38. The firm has a fifty day moving average of $23.36 and a two-hundred day moving average of $25.24.

Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, October 24th. The auto parts company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The company had revenue of $570.32 million during the quarter, compared to analyst estimates of $661.10 million. Gentex had a net margin of 15.61% and a return on equity of 15.86%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 EPS. On average, sell-side analysts expect that Gentex will post 2.04 EPS for the current year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Wednesday, January 7th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, January 7th. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. Gentex’s dividend payout ratio (DPR) is 28.24%.

Institutional Investors Weigh In On Gentex

Hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. grew its position in shares of Gentex by 60.5% during the second quarter. American Century Companies Inc. now owns 6,611,258 shares of the auto parts company’s stock worth $145,382,000 after acquiring an additional 2,492,026 shares during the last quarter. Norges Bank acquired a new position in Gentex during the 2nd quarter valued at about $51,815,000. Qube Research & Technologies Ltd boosted its stake in Gentex by 370.8% during the 2nd quarter. Qube Research & Technologies Ltd now owns 2,615,981 shares of the auto parts company’s stock valued at $57,525,000 after purchasing an additional 2,060,287 shares during the period. Wellington Management Group LLP grew its position in Gentex by 10.3% in the 3rd quarter. Wellington Management Group LLP now owns 14,828,120 shares of the auto parts company’s stock worth $419,636,000 after purchasing an additional 1,383,203 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Gentex by 21.9% in the third quarter. JPMorgan Chase & Co. now owns 6,725,426 shares of the auto parts company’s stock valued at $190,330,000 after purchasing an additional 1,206,060 shares during the period. 86.76% of the stock is currently owned by institutional investors.

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).