Gentex Co. (NASDAQ:GNTX) Given Consensus Recommendation of “Hold” by Brokerages

Gentex Co. (NASDAQ:GNTX) has received a consensus rating of “Hold” from the eight brokerages that are covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $35.13.

Several equities analysts recently commented on GNTX shares. Bank of America cut their target price 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. BNP Paribas cut shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 target price for the company. in a research note on Tuesday, July 30th. Guggenheim lowered their price target on Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday. UBS Group began coverage on Gentex in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price objective for the company. Finally, The Goldman Sachs Group lowered their price objective on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st.

Gentex Stock Up 1.3 %

Shares of GNTX stock opened at $29.88 on Friday. Gentex has a 12 month low of $28.30 and a 12 month high of $37.58. The firm has a market cap of $6.80 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 0.94 and a beta of 0.91. The stock has a 50 day moving average of $29.89 and a 200-day moving average of $31.68.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Wednesday, October 9th. Gentex’s dividend payout ratio (DPR) is currently 25.67%.

Hedge Funds Weigh In On Gentex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in Gentex in the third quarter worth $326,000. Toronto Dominion Bank increased its stake in shares of Gentex by 1.6% in the third quarter. Toronto Dominion Bank now owns 40,721 shares of the auto parts company’s stock valued at $1,209,000 after buying an additional 650 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of Gentex by 5.8% in the third quarter. Coldstream Capital Management Inc. now owns 7,446 shares of the auto parts company’s stock valued at $221,000 after buying an additional 408 shares during the last quarter. Geode Capital Management LLC lifted its position in Gentex by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company’s stock worth $159,406,000 after buying an additional 285,802 shares in the last quarter. Finally, Foyston Gordon & Payne Inc grew its holdings in Gentex by 0.5% during the 3rd quarter. Foyston Gordon & Payne Inc now owns 165,835 shares of the auto parts company’s stock worth $4,924,000 after acquiring an additional 901 shares during the last quarter. 86.76% of the stock is currently 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.