Gentex Corporation (NASDAQ:GNTX) Receives $26.71 Average Price Target from Brokerages

Gentex Corporation (NASDAQ:GNTX) has earned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $26.7143.

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Gentex from a “hold” rating to a “buy” rating in a report on Sunday, March 8th. Robert W. Baird set a $26.00 price target on shares of Gentex in a research report on Wednesday, January 14th. UBS Group set a $25.00 price target on shares of Gentex in a research report on Monday, February 2nd. Freedom Capital raised shares of Gentex to a “strong-buy” rating in a research report on Friday, March 27th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Gentex in a research report on Thursday, January 22nd.

Gentex Price Performance

Shares of NASDAQ GNTX opened at $21.36 on Wednesday. The stock has a market capitalization of $4.60 billion, a P/E ratio of 12.28 and a beta of 0.77. The company has a 50-day moving average price of $22.78 and a 200-day moving average price of $23.81. Gentex has a 1 year low of $20.28 and a 1 year high of $29.38.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, January 30th. The auto parts company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $644.40 million during the quarter, compared to analysts’ expectations of $650.90 million. Gentex had a net margin of 15.19% and a return on equity of 16.05%. The business’s revenue was up 19.0% on a year-over-year basis. During the same period last year, the company earned $0.39 earnings per share. As a group, equities research analysts anticipate that Gentex will post 2.04 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 8th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, April 8th. Gentex’s dividend payout ratio (DPR) is presently 27.59%.

Insider Activity at Gentex

In related news, CFO Kevin C. Nash sold 11,885 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $24.98, for a total transaction of $296,887.30. Following the transaction, the chief financial officer directly owned 59,430 shares of the company’s stock, valued at $1,484,561.40. This trade represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Neil Boehm sold 11,248 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $24.82, for a total transaction of $279,175.36. Following the transaction, the chief technology officer directly owned 58,951 shares in the company, valued at $1,463,163.82. The trade was a 16.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 58,133 shares of company stock valued at $1,442,313 over the last ninety days. Corporate insiders own 0.45% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Hsbc Holdings PLC lifted its position in shares of Gentex by 308.9% during the fourth quarter. Hsbc Holdings PLC now owns 134,570 shares of the auto parts company’s stock valued at $3,141,000 after purchasing an additional 101,656 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in Gentex by 269.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 18,816 shares of the auto parts company’s stock worth $438,000 after acquiring an additional 13,729 shares during the period. Corient Private Wealth LLC raised its position in Gentex by 49.2% in the fourth quarter. Corient Private Wealth LLC now owns 66,612 shares of the auto parts company’s stock worth $1,551,000 after acquiring an additional 21,963 shares during the period. Arwa LLC bought a new stake in Gentex in the fourth quarter worth about $402,000. Finally, DGS Capital Management LLC bought a new stake in Gentex in the fourth quarter worth about $260,000. 86.76% of the stock is 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).