Gentex (NASDAQ:GNTX) PT Lowered to $31.00 at The Goldman Sachs Group

Gentex (NASDAQ:GNTX) had its price objective decreased by The Goldman Sachs Group from $33.00 to $31.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the auto parts company’s stock.

Several other research firms have also recently issued reports on GNTX. BNP Paribas cut shares of Gentex from an outperform rating to a neutral rating and set a $34.00 price objective for the company. in a report on Tuesday, July 30th. B. Riley decreased their price target on Gentex from $44.00 to $41.00 and set a buy rating for the company in a research note on Monday, July 29th. JPMorgan Chase & Co. dropped their price objective on Gentex from $36.00 to $35.00 and set a neutral rating on the stock in a research note on Monday, July 22nd. Robert W. Baird cut their price target on shares of Gentex from $40.00 to $38.00 and set an outperform rating on the stock in a report on Monday, July 29th. Finally, UBS Group assumed coverage on shares of Gentex in a research note on Wednesday, September 4th. They issued a neutral rating and a $34.00 price objective for the company. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $36.29.

Gentex Price Performance

NASDAQ:GNTX opened at $29.00 on Tuesday. Gentex has a 12 month low of $27.86 and a 12 month high of $37.58. The business’s 50-day moving average is $29.96 and its two-hundred day moving average is $32.91. The firm has a market capitalization of $6.70 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 0.99 and a beta of 0.92.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, July 26th. The auto parts company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.15). Gentex had a return on equity of 17.78% and a net margin of 17.87%. The company had revenue of $572.93 million for the quarter, compared to analyst estimates of $623.28 million. Equities analysts anticipate that Gentex will post 1.96 EPS for the current year.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $0.48 annualized dividend and a yield of 1.66%. Gentex’s dividend payout ratio (DPR) is presently 25.40%.

Insiders Place Their Bets

In other Gentex news, major shareholder Corp Gentex purchased 3,152,500 shares of the stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost of $5.00 per share, with a total value of $15,762,500.00. Following the completion of the transaction, the insider now owns 6,463,808 shares in the company, valued at $32,319,040. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Gentex

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Gentex by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 22,280,716 shares of the auto parts company’s stock valued at $727,688,000 after purchasing an additional 163,373 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Gentex by 27.9% during the 4th quarter. Wellington Management Group LLP now owns 8,728,378 shares of the auto parts company’s stock worth $285,069,000 after purchasing an additional 1,905,356 shares during the period. Boston Partners raised its position in shares of Gentex by 4.2% during the first quarter. Boston Partners now owns 5,706,411 shares of the auto parts company’s stock valued at $206,095,000 after buying an additional 230,873 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of Gentex by 41.2% in the first quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock valued at $168,957,000 after buying an additional 1,363,898 shares during the period. Finally, Burgundy Asset Management Ltd. increased its stake in Gentex by 3.0% during the second quarter. Burgundy Asset Management Ltd. now owns 4,343,880 shares of the auto parts company’s stock valued at $146,432,000 after acquiring an additional 126,416 shares during the period. 86.76% of the stock is owned by institutional investors.

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.