Gentex (NASDAQ:GNTX) Lowered to Hold Rating by Freedom Capital

Freedom Capital cut shares of Gentex (NASDAQ:GNTX) from a strong-buy rating to a hold rating in a research report report published on Wednesday morning,Zacks.com reports.

Several other research firms also recently weighed in on GNTX. Wall Street Zen downgraded Gentex from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. B. Riley Financial restated a “buy” rating and issued a $29.00 price target (up from $28.00) on shares of Gentex in a research report on Monday, April 27th. UBS Group reaffirmed a “neutral” rating and set a $25.00 price objective (down from $26.00) on shares of Gentex in a research note on Thursday, July 9th. Weiss Ratings upgraded shares of Gentex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. increased their target price 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. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Gentex has a consensus rating of “Hold” and a consensus price target of $27.00.

Gentex Trading Down 1.4%

Shares of NASDAQ:GNTX opened at $23.64 on Wednesday. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 12.51 and a beta of 0.78. Gentex has a 12 month low of $20.48 and a 12 month high of $29.38. The company has a 50-day moving average price of $24.55 and a 200 day moving average price of $23.50.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, July 24th. The auto parts company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.08. Gentex had a return on equity of 16.78% and a net margin of 15.50%.The company had revenue of $651.30 million for the quarter, compared to analysts’ expectations of $669.65 million. During the same period in the previous year, the firm posted $0.43 earnings per share. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, equities analysts forecast that Gentex will post 1.99 EPS for the current year.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, July 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.0%. Gentex’s dividend payout ratio is currently 25.40%.

Insider Activity at Gentex

In other Gentex news, Director Joseph B. Anderson, Jr. sold 5,939 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brian C. Walker sold 5,939 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. Following the completion of the sale, the director owned 24,205 shares in the company, valued at approximately $556,230.90. The trade was a 19.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.55% of the company’s stock.

Institutional Trading of Gentex

Large investors have recently made changes to their positions in the stock. Clearstead Advisors LLC boosted its stake in Gentex by 21.4% during the fourth 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 increased its stake in shares of 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 acquiring an additional 458 shares during the last quarter. Crumly & Associates Inc. increased its stake in shares of Gentex by 3.7% in the 2nd 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 last quarter. First Citizens Bank & Trust Co. raised its holdings in shares of 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 acquiring an additional 487 shares during the period. Finally, Sei Investments Co. raised its holdings in shares of Gentex by 0.3% during the 1st 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 during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.

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).