Gentex (NASDAQ:GNTX) Reaches New 12-Month Low – Time to Sell?

Gentex Co. (NASDAQ:GNTX)’s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $23.41 and last traded at $23.51, with a volume of 631780 shares trading hands. The stock had previously closed at $23.88.

Analysts Set New Price Targets

Several equities research analysts recently commented on GNTX shares. JPMorgan Chase & Co. dropped their target price on Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. UBS Group dropped their price objective on Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Guggenheim set a $30.00 price objective on Gentex in a report on Wednesday, March 5th. B. Riley reaffirmed a “buy” rating and set a $32.50 target price (down from $37.00) on shares of Gentex in a report on Monday, February 3rd. Finally, Robert W. Baird set a $31.00 price target on shares of Gentex in a report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $31.81.

Gentex Stock Performance

The stock has a market cap of $5.32 billion, a PE ratio of 13.30, a PEG ratio of 0.84 and a beta of 0.90. The stock has a 50 day moving average of $25.29 and a two-hundred day moving average of $28.11.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share 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 company earned $0.50 earnings per share. Analysts expect that Gentex Co. will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be given a $0.12 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $0.48 annualized dividend and a dividend yield of 2.05%. Gentex’s dividend payout ratio (DPR) is presently 27.27%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in Gentex by 162.4% during the 4th quarter. JPMorgan Chase & Co. now owns 5,249,230 shares of the auto parts company’s stock valued at $150,810,000 after acquiring an additional 3,248,434 shares in the last quarter. Norges Bank purchased a new stake in shares of Gentex in the fourth quarter worth approximately $51,959,000. Wellington Management Group LLP grew its position in Gentex by 6.1% during the fourth quarter. Wellington Management Group LLP now owns 18,023,056 shares of the auto parts company’s stock valued at $517,802,000 after purchasing an additional 1,038,912 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Gentex during the fourth quarter valued at approximately $24,479,000. Finally, American Century Companies Inc. increased its stake in Gentex by 66.9% in the 4th quarter. American Century Companies Inc. now owns 1,657,397 shares of the auto parts company’s stock valued at $47,617,000 after buying an additional 664,389 shares during the period. 86.76% of the stock is owned by institutional investors and hedge funds.

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.