Gentex (NASDAQ:GNTX) PT Lowered to $31.00

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

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. lowered their target price on shares of Gentex from $36.00 to $35.00 and set a neutral rating for the company in a report on Monday, July 22nd. Robert W. Baird cut their target price on shares of Gentex from $40.00 to $38.00 and set an outperform rating for the company in a research report on Monday, July 29th. UBS Group began coverage on shares of Gentex in a research report on Wednesday, September 4th. They set a neutral rating and a $34.00 target price for the company. StockNews.com lowered shares of Gentex from a buy rating to a hold rating in a research report on Thursday, July 4th. Finally, B. Riley cut their target price on shares of Gentex from $44.00 to $41.00 and set a buy rating for the company in a research report on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Gentex presently has a consensus rating of Hold and an average target price of $36.29.

Gentex Trading Down 1.1 %

GNTX opened at $29.15 on Tuesday. The company’s fifty day moving average price is $30.00 and its two-hundred day moving average price is $32.96. Gentex has a 1-year low of $27.86 and a 1-year high of $37.58. The company has a market cap of $6.74 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 0.99 and a beta of 0.92.

Gentex (NASDAQ:GNTX) last announced its 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). The firm had revenue of $572.93 million during the quarter, compared to analysts’ expectations of $623.28 million. Gentex had a net margin of 17.87% and a return on equity of 17.78%. As a group, equities analysts forecast that Gentex will post 1.96 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be given a $0.12 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.65%. Gentex’s dividend payout ratio (DPR) is currently 25.40%.

Insider Activity at Gentex

In related news, major shareholder Corp Gentex bought 3,152,500 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $5.00 per share, with a total value of $15,762,500.00. Following the completion of the purchase, the insider now directly owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.41% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Gentex

Institutional investors and hedge funds have recently bought and sold shares of the stock. Neo Ivy Capital Management purchased a new stake in Gentex in the fourth quarter valued at approximately $29,000. Quest Partners LLC purchased a new position in shares of Gentex during the second quarter worth approximately $31,000. Gladius Capital Management LP purchased a new position in shares of Gentex during the second quarter worth approximately $34,000. EverSource Wealth Advisors LLC raised its stake in shares of Gentex by 173.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock worth $42,000 after acquiring an additional 850 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Gentex by 26.3% during the first quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company’s stock worth $63,000 after acquiring an additional 363 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other 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.