Shares of Gentex Corporation (NASDAQ:GNTX – Get Free Report) have been given a consensus recommendation of “Hold” by the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $27.00.
Several equities analysts recently commented on GNTX shares. UBS Group restated a “neutral” rating and issued a $25.00 target price (down from $26.00) on shares of Gentex in a research report on Thursday, July 9th. Robert W. Baird upped their price target on Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Wall Street Zen cut shares of Gentex from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings upgraded Gentex from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Gentex from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th.
Check Out Our Latest Stock Report on GNTX
Gentex Trading Up 2.3%
Gentex (NASDAQ:GNTX – Get Free Report) last posted its quarterly earnings results on Friday, July 24th. The auto parts company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. The company had revenue of $651.30 million for the quarter, compared to the consensus estimate of $669.65 million. Gentex had a net margin of 15.50% and a return on equity of 16.78%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the company posted $0.43 EPS. On average, sell-side analysts predict that Gentex will post 1.99 earnings per share for the current year.
Gentex Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, July 8th. This represents a $0.48 annualized dividend and a yield of 2.0%. Gentex’s dividend payout ratio is presently 25.40%.
Insider Activity
In related news, Director Joseph B. Anderson, Jr. sold 5,939 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $22.98, for a total value of $136,478.22. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brian C. Walker sold 5,939 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $22.98, for a total value of $136,478.22. Following the completion of the transaction, the director owned 24,205 shares in the company, valued at $556,230.90. This represents a 19.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.55% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Clearstead Advisors LLC boosted its holdings in shares of Gentex by 21.4% in the 4th quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company’s stock worth $58,000 after buying an additional 437 shares during the last quarter. Gagnon Securities LLC boosted its holdings in Gentex by 0.8% in the 4th quarter. Gagnon Securities LLC now owns 55,672 shares of the auto parts company’s stock worth $1,295,000 after buying an additional 458 shares during the period. Crumly & Associates Inc. boosted its holdings in shares of Gentex by 3.7% in the second quarter. Crumly & Associates Inc. now owns 13,291 shares of the auto parts company’s stock worth $336,000 after acquiring an additional 478 shares during the period. First Citizens Bank & Trust Co. boosted its stake in Gentex by 1.6% in the 1st quarter. First Citizens Bank & Trust Co. now owns 30,294 shares of the auto parts company’s stock worth $662,000 after purchasing an additional 487 shares during the period. Finally, Sei Investments Co. grew its stake in Gentex by 0.3% during the first quarter. Sei Investments Co. now owns 196,776 shares of the auto parts company’s stock valued at $4,300,000 after acquiring an additional 521 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.
About Gentex
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).
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