Gentex (NASDAQ:GNTX) Price Target Raised to $41.00

Gentex (NASDAQ:GNTX) had its price target increased by Guggenheim from $40.00 to $41.00 in a research report sent to investors on Wednesday, Benzinga reports. Guggenheim currently has a buy rating on the auto parts company’s stock.

A number of other research analysts have also recently issued reports on GNTX. StockNews.com raised shares of Gentex from a hold rating to a buy rating in a report on Friday, February 23rd. JPMorgan Chase & Co. lifted their price target on Gentex from $36.00 to $37.00 and gave the stock a neutral rating in a research report on Thursday, January 25th. The Goldman Sachs Group boosted their price target on Gentex from $31.00 to $35.00 and gave the company a neutral rating in a research note on Monday, January 29th. Finally, B. Riley raised their price objective on Gentex from $42.00 to $44.00 and gave the stock a buy rating in a research note on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Gentex has an average rating of Moderate Buy and a consensus target price of $37.83.

Gentex Trading Up 1.0 %

Shares of GNTX opened at $33.91 on Wednesday. The firm has a market cap of $7.84 billion, a PE ratio of 18.43, a P/E/G ratio of 0.71 and a beta of 0.99. Gentex has a 12 month low of $25.85 and a 12 month high of $37.58. The stock has a fifty day moving average price of $35.70 and a 200-day moving average price of $32.98.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, January 26th. The auto parts company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. Gentex had a return on equity of 19.25% and a net margin of 18.63%. The company had revenue of $589.13 million during the quarter, compared to analysts’ expectations of $563.42 million. During the same period last year, the business posted $0.37 earnings per share. The firm’s revenue was up 19.3% compared to the same quarter last year. As a group, research analysts forecast that Gentex will post 2.16 EPS for the current year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Friday, April 5th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.42%. The ex-dividend date was Thursday, April 4th. Gentex’s dividend payout ratio is currently 26.09%.

Insiders Place Their Bets

In other news, CFO Kevin C. Nash sold 13,500 shares of Gentex stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total transaction of $446,040.00. Following the completion of the transaction, the chief financial officer now directly owns 44,321 shares of the company’s stock, valued at approximately $1,464,365.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Gentex news, Director Richard O. Schaum sold 6,022 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $33.93, for a total value of $204,326.46. Following the sale, the director now directly owns 62,555 shares of the company’s stock, valued at $2,122,491.15. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevin C. Nash sold 13,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total value of $446,040.00. Following the completion of the sale, the chief financial officer now owns 44,321 shares of the company’s stock, valued at $1,464,365.84. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Gentex

Institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its holdings in Gentex by 8.3% during the first quarter. American Century Companies Inc. now owns 45,689 shares of the auto parts company’s stock valued at $1,332,000 after purchasing an additional 3,492 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Gentex by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 86,682 shares of the auto parts company’s stock valued at $2,529,000 after buying an additional 8,265 shares in the last quarter. BlackRock Inc. boosted its holdings in Gentex by 0.9% in the 1st quarter. BlackRock Inc. now owns 20,990,163 shares of the auto parts company’s stock worth $612,282,000 after buying an additional 190,797 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in Gentex by 10.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 137,269 shares of the auto parts company’s stock worth $4,117,000 after buying an additional 12,625 shares during the last quarter. Finally, Raymond James Trust N.A. raised its holdings in shares of Gentex by 40.9% during the first quarter. Raymond James Trust N.A. now owns 8,688 shares of the auto parts company’s stock valued at $253,000 after acquiring an additional 2,524 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Company Profile

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.