Gentex (NASDAQ:GNTX) Price Target Lowered to $35.00 at JPMorgan Chase & Co.

Gentex (NASDAQ:GNTX) had its price objective lowered by JPMorgan Chase & Co. from $36.00 to $35.00 in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the auto parts company’s stock.

A number of other analysts have also commented on GNTX. StockNews.com lowered shares of Gentex from a buy rating to a hold rating in a research note on Thursday, July 4th. Robert W. Baird reduced their price target on shares of Gentex from $41.00 to $40.00 and set an outperform rating for the company in a research report on Friday, July 12th. Finally, Guggenheim raised their price objective on shares of Gentex from $40.00 to $41.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $39.00.

Gentex Stock Performance

Gentex stock opened at $32.49 on Monday. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 0.93 and a beta of 0.93. Gentex has a 1 year low of $27.86 and a 1 year high of $37.58. The firm’s 50 day moving average price is $34.08 and its two-hundred day moving average price is $34.54.

Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, April 26th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $600.38 million. During the same quarter in the previous year, the firm earned $0.42 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts predict that Gentex will post 2.11 EPS for the current fiscal year.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 17th. Stockholders of record on Friday, July 5th were issued a $0.12 dividend. The ex-dividend date was Friday, July 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.48%. Gentex’s dividend payout ratio is 25.40%.

Insider Buying and Selling

In other Gentex news, Director Joseph B. Anderson, Jr. sold 4,716 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $34.46, for a total value of $162,513.36. Following the transaction, the director now directly owns 3,764 shares of the company’s stock, valued at approximately $129,707.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.41% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Gentex

Institutional investors and hedge funds have recently modified their holdings of the business. Phoenix Wealth Advisors raised its holdings in Gentex by 3.1% in the 2nd quarter. Phoenix Wealth Advisors now owns 10,196 shares of the auto parts company’s stock worth $344,000 after acquiring an additional 306 shares during the period. Sequoia Financial Advisors LLC raised its position in Gentex by 0.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 50,311 shares of the auto parts company’s stock valued at $1,643,000 after purchasing an additional 336 shares during the last quarter. GAMMA Investing LLC lifted its position in Gentex by 26.3% during the 1st quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company’s stock worth $63,000 after buying an additional 363 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of Gentex by 0.9% during the first quarter. Toronto Dominion Bank now owns 42,346 shares of the auto parts company’s stock worth $1,530,000 after purchasing an additional 370 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its position in Gentex by 0.5% in the 4th quarter. Eagle Asset Management Inc. now owns 69,808 shares of the auto parts company’s stock valued at $2,280,000 after buying an additional 373 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.