Shares of Gentex Corporation (NASDAQ:GNTX – Get Free Report) have earned a consensus recommendation of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $26.80.
A number of brokerages have recently issued reports on GNTX. Freedom Capital downgraded shares of Gentex from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Weiss Ratings upgraded Gentex from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. UBS Group reiterated a “neutral” rating and issued a $25.00 price objective (down from $26.00) on shares of Gentex in a research report on Thursday, July 9th. JPMorgan Chase & Co. cut their target price on Gentex from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, August 10th. Finally, Wall Street Zen downgraded Gentex from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th.
Check Out Our Latest Stock Analysis on GNTX
Gentex Trading Up 1.3%
Gentex (NASDAQ:GNTX – Get Free Report) last released its quarterly earnings data on Friday, July 24th. The auto parts company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.08. Gentex had a net margin of 15.50% and a return on equity of 16.78%. The firm had revenue of $651.30 million during the quarter, compared to analysts’ expectations of $669.65 million. During the same period last year, the business earned $0.43 earnings per share. Gentex’s revenue was down 1.0% compared to the same quarter last year. As a group, equities research analysts predict that Gentex will post 2.07 EPS for the current year.
Gentex Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Wednesday, October 7th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, October 7th. Gentex’s payout ratio is 25.40%.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of GNTX. Clearstead Advisors LLC lifted 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 acquiring an additional 437 shares during the last quarter. Gagnon Securities LLC boosted its holdings in Gentex by 0.8% during the 4th quarter. Gagnon Securities LLC now owns 55,672 shares of the auto parts company’s stock valued at $1,295,000 after acquiring an additional 458 shares during the period. Crumly & Associates Inc. increased its stake in Gentex by 3.7% during the second quarter. Crumly & Associates Inc. now owns 13,291 shares of the auto parts company’s stock worth $336,000 after purchasing an additional 478 shares during the period. First Citizens Bank & Trust Co. increased its stake in Gentex by 1.6% during the 1st quarter. First Citizens Bank & Trust Co. now owns 30,294 shares of the auto parts company’s stock worth $662,000 after buying an additional 487 shares during the period. Finally, Sei Investments Co. grew its stake in shares of Gentex by 0.3% in the first quarter. Sei Investments Co. now owns 196,776 shares of the auto parts company’s stock worth $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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