Gentex Co. Announces Quarterly Dividend of $0.12 (NASDAQ:GNTX)

Gentex Co. (NASDAQ:GNTX) announced a quarterly dividend on Tuesday, November 26th,RTT News reports. Shareholders of record on Wednesday, January 8th will be paid a dividend of 0.12 per share by the auto parts company on Wednesday, January 22nd. This represents a $0.48 annualized dividend and a yield of 1.57%. The ex-dividend date is Wednesday, January 8th.

Gentex has increased its dividend by an average of 0.4% annually over the last three years. Gentex has a payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Gentex to earn $2.10 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 22.9%.

Gentex Stock Down 1.0 %

Shares of NASDAQ GNTX opened at $30.57 on Thursday. The stock has a market capitalization of $6.95 billion, a P/E ratio of 16.35, a PEG ratio of 1.09 and a beta of 0.91. The stock’s 50 day moving average price is $30.02 and its two-hundred day moving average price is $31.55. Gentex has a 52-week low of $28.30 and a 52-week high of $37.58.

Analyst Ratings Changes

Several equities analysts have recently commented on GNTX shares. Guggenheim lowered their target price on Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, November 21st. The Goldman Sachs Group lowered their target price on Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. UBS Group started coverage on Gentex in a report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 target price for the company. Robert W. Baird upped their target price on Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Finally, Bank of America lowered their target price on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Gentex has a consensus rating of “Hold” and a consensus target price of $35.13.

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.