Gentex (NASDAQ:GNTX) Price Target Cut to $32.00 by Analysts at JPMorgan Chase & Co.

Gentex (NASDAQ:GNTX) had its target price reduced by JPMorgan Chase & Co. from $34.00 to $32.00 in a research report report published on Monday,Benzinga reports. They currently have a neutral rating on the auto parts company’s stock.

Several other brokerages have also recently issued reports on GNTX. Bank of America lowered their price objective on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Robert W. Baird boosted their price objective on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Finally, Guggenheim lowered their price objective on shares of Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $33.06.

Gentex Stock Performance

GNTX stock opened at $25.30 on Monday. The stock has a market capitalization of $5.75 billion, a P/E ratio of 14.38, a PEG ratio of 0.86 and a beta of 0.91. Gentex has a one year low of $24.57 and a one year high of $37.58. The company has a 50 day moving average price of $28.71 and a two-hundred day moving average price of $29.63.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, January 31st. The auto parts company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.10). Gentex had a return on equity of 16.74% and a net margin of 17.49%. During the same quarter in the previous year, the firm earned $0.50 earnings per share. Research analysts forecast that Gentex will post 2.1 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, January 8th. This represents a $0.48 annualized dividend and a dividend yield of 1.90%. Gentex’s payout ratio is 27.27%.

Hedge Funds Weigh In On Gentex

A number of institutional investors have recently added to or reduced their stakes in GNTX. JPMorgan Chase & Co. lifted its holdings in Gentex by 179.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company’s stock worth $59,404,000 after buying an additional 1,285,519 shares in the last quarter. Bridgewater Associates LP lifted its holdings in Gentex by 249.1% in the 3rd quarter. Bridgewater Associates LP now owns 617,657 shares of the auto parts company’s stock worth $18,338,000 after buying an additional 440,725 shares in the last quarter. Cidel Asset Management Inc. acquired a new position in Gentex in the 4th quarter worth $11,815,000. Bank of New York Mellon Corp lifted its holdings in Gentex by 16.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,787,311 shares of the auto parts company’s stock worth $80,079,000 after buying an additional 386,461 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in Gentex by 327.8% in the 3rd quarter. Citigroup Inc. now owns 483,842 shares of the auto parts company’s stock worth $14,365,000 after buying an additional 370,746 shares in 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.