Gentex (NASDAQ:GNTX) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Gentex (NASDAQ:GNTXFree Report) from a buy rating to a hold rating in a report released on Wednesday morning.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. boosted their price target on shares of Gentex from $36.00 to $37.00 and gave the stock a neutral rating in a report on Thursday, January 25th. Guggenheim boosted their target price on Gentex from $40.00 to $41.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. The Goldman Sachs Group upped their target price on Gentex from $31.00 to $35.00 and gave the company a neutral rating in a report on Monday, January 29th. Finally, B. Riley lifted their price target on Gentex from $42.00 to $44.00 and gave the stock a buy rating in a report on Wednesday, March 20th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $37.83.

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Gentex Stock Up 0.1 %

Shares of Gentex stock opened at $34.65 on Wednesday. Gentex has a 52 week low of $25.86 and a 52 week high of $37.58. The business has a 50 day moving average price of $35.18 and a 200-day moving average price of $33.52. The company has a market cap of $8.01 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 0.76 and a beta of 0.98.

Gentex (NASDAQ:GNTXGet Free Report) last announced its quarterly earnings results on Friday, April 26th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). Gentex had a return on equity of 19.19% and a net margin of 18.77%. The company had revenue of $590.23 million for the quarter, compared to the consensus estimate of $600.38 million. During the same quarter last year, the company posted $0.42 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, research analysts anticipate that Gentex will post 2.11 EPS for the current year.

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Friday, April 5th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $0.48 annualized dividend and a dividend yield of 1.39%. Gentex’s payout ratio is currently 25.40%.

Insider Activity at Gentex

In other Gentex news, CFO Kevin C. Nash sold 13,500 shares of the stock in a transaction on Tuesday, February 20th. The stock was 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 $1,464,365.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.41% of the stock is owned by company insiders.

Institutional Investors Weigh In On Gentex

Institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp boosted its holdings in Gentex by 219.9% in the 3rd quarter. Fifth Third Bancorp now owns 38,899 shares of the auto parts company’s stock worth $1,266,000 after buying an additional 26,740 shares during the period. Teacher Retirement System of Texas grew its position in shares of Gentex by 36.2% in the third quarter. Teacher Retirement System of Texas now owns 116,186 shares of the auto parts company’s stock valued at $3,781,000 after purchasing an additional 30,862 shares in the last quarter. JLB & Associates Inc. grew its position in shares of Gentex by 6.0% in the third quarter. JLB & Associates Inc. now owns 23,965 shares of the auto parts company’s stock valued at $780,000 after purchasing an additional 1,357 shares in the last quarter. Mesirow Institutional Investment Management Inc. raised its stake in shares of Gentex by 20.9% during the 3rd quarter. Mesirow Institutional Investment Management Inc. now owns 92,446 shares of the auto parts company’s stock valued at $3,008,000 after purchasing an additional 15,981 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in Gentex by 4.2% during the 3rd quarter. California Public Employees Retirement System now owns 424,407 shares of the auto parts company’s stock worth $13,810,000 after purchasing an additional 17,294 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

About Gentex

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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.

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Analyst Recommendations for Gentex (NASDAQ:GNTX)

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