Gentex Co. (NASDAQ:GNTX) Given Consensus Rating of “Moderate Buy” by Analysts

Gentex Co. (NASDAQ:GNTX) has been given an average recommendation of “Moderate Buy” by the six research firms that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $37.33.

A number of research analysts recently issued reports on GNTX shares. Robert W. Baird dropped their target price on shares of Gentex from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. Guggenheim boosted their target price on shares of Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. BNP Paribas downgraded shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 target price on the stock. in a research report on Tuesday, July 30th. JPMorgan Chase & Co. dropped their target price on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Finally, B. Riley dropped their target price on shares of Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Monday, July 29th.

Gentex Stock Performance

NASDAQ:GNTX opened at $28.93 on Friday. Gentex has a 52 week low of $27.86 and a 52 week high of $37.58. The firm’s fifty day moving average is $32.80 and its 200-day moving average is $34.32. The firm has a market cap of $6.69 billion, a P/E ratio of 15.31, a P/E/G ratio of 0.91 and a beta of 0.93.

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 17th. Shareholders of record on Friday, July 5th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, July 5th. This represents a $0.48 annualized dividend and a yield of 1.66%. Gentex’s payout ratio is 25.40%.

Insiders Place Their Bets

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

Institutional Trading of Gentex

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ensign Peak Advisors Inc raised its holdings in shares of Gentex by 56.4% in the second quarter. Ensign Peak Advisors Inc now owns 109,451 shares of the auto parts company’s stock valued at $3,690,000 after purchasing an additional 39,470 shares during the last quarter. Sei Investments Co. grew its position in Gentex by 149.8% during the second quarter. Sei Investments Co. now owns 328,659 shares of the auto parts company’s stock valued at $11,079,000 after buying an additional 197,075 shares during the period. Pacer Advisors Inc. grew its position in Gentex by 5.0% during the second quarter. Pacer Advisors Inc. now owns 44,857 shares of the auto parts company’s stock valued at $1,512,000 after buying an additional 2,151 shares during the period. Sprucegrove Investment Management Ltd. grew its position in Gentex by 1.3% during the second quarter. Sprucegrove Investment Management Ltd. now owns 489,362 shares of the auto parts company’s stock valued at $16,496,000 after buying an additional 6,400 shares during the period. Finally, Intech Investment Management LLC bought a new position in Gentex during the second quarter valued at about $1,037,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

About Gentex

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.