Gentex Co. (NASDAQ:GNTX) Receives $35.13 Consensus Price Target from Brokerages

Gentex Co. (NASDAQ:GNTX) has been assigned an average rating of “Hold” from the eight ratings firms that are covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $35.13.

GNTX has been the subject of several research analyst reports. The Goldman Sachs Group cut their target price on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st. Bank of America cut their price objective on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Guggenheim decreased their target price on Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Finally, Robert W. Baird upped their price target on Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, October 28th.

Institutional Trading of Gentex

Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its stake in shares of Gentex by 179.7% in the third quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company’s stock valued at $59,404,000 after acquiring an additional 1,285,519 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Gentex by 14.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,989,248 shares of the auto parts company’s stock valued at $134,475,000 after purchasing an additional 489,689 shares in the last quarter. Bridgewater Associates LP raised its position in Gentex by 249.1% in the 3rd quarter. Bridgewater Associates LP now owns 617,657 shares of the auto parts company’s stock valued at $18,338,000 after purchasing an additional 440,725 shares during the last quarter. Citigroup Inc. boosted its stake in Gentex by 327.8% in the third quarter. Citigroup Inc. now owns 483,842 shares of the auto parts company’s stock worth $14,365,000 after purchasing an additional 370,746 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Gentex by 53.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 905,080 shares of the auto parts company’s stock worth $26,872,000 after purchasing an additional 315,164 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors.

Gentex Stock Down 1.2 %

Shares of GNTX stock opened at $26.86 on Monday. Gentex has a 12 month low of $26.58 and a 12 month high of $37.58. The firm has a market cap of $6.11 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 1.08 and a beta of 0.91. The stock has a 50 day moving average of $29.66 and a 200-day moving average of $30.45.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Wednesday, January 8th. Gentex’s payout ratio is 25.67%.

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.