Shares of Gentex Co. (NASDAQ:GNTX - Get Free Report) have been given an average recommendation of "Hold" by the eight ratings firms that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $36.00.
Several brokerages have weighed in on GNTX. BNP Paribas downgraded Gentex from an "outperform" rating to a "neutral" rating and set a $34.00 price target for the company. in a report on Tuesday, July 30th. Robert W. Baird boosted their target price on shares of Gentex from $35.00 to $37.00 and gave the stock an "outperform" rating in a research report on Monday, October 28th. JPMorgan Chase & Co. decreased their price target on shares of Gentex from $36.00 to $35.00 and set a "neutral" rating for the company in a report on Monday, July 22nd. UBS Group initiated coverage on shares of Gentex in a research note on Wednesday, September 4th. They set a "neutral" rating and a $34.00 price objective for the company. Finally, Bank of America cut their target price on Gentex from $39.00 to $35.00 and set a "neutral" rating on the stock in a research report on Monday, October 14th.
Get Our Latest Stock Report on GNTX
Shares of GNTX opened at $30.15 on Friday. Gentex has a 12 month low of $28.30 and a 12 month high of $37.58. The stock has a fifty day moving average price of $29.87 and a 200-day moving average price of $31.81. The firm has a market cap of $6.86 billion, a PE ratio of 16.12, a P/E/G ratio of 0.98 and a beta of 0.91.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Wednesday, October 9th. Gentex's payout ratio is 25.67%.
In related news, major shareholder Corp Gentex acquired 3,152,500 shares of the stock in a transaction on Friday, August 23rd. The shares were acquired at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the transaction, the insider now owns 6,463,808 shares in the company, valued at approximately $32,319,040. This trade represents a 95.20 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.41% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. Quest Partners LLC purchased a new position in Gentex in the second quarter valued at $31,000. Gladius Capital Management LP acquired a new position in Gentex in the 2nd quarter worth about $34,000. EverSource Wealth Advisors LLC raised its holdings in Gentex by 173.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company's stock worth $42,000 after purchasing an additional 850 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its position 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 worth $54,000 after purchasing an additional 1,269 shares in the last quarter. Finally, HHM Wealth Advisors LLC acquired a new stake in Gentex in the second quarter valued at approximately $67,000. 86.76% of the stock is owned by hedge funds and other institutional investors.
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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