Gentex Co. (NASDAQ:GNTX) Receives Average Rating of “Hold” from Analysts

Shares of Gentex Co. (NASDAQ:GNTX) have been assigned a consensus recommendation of “Hold” from the eight analysts that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $35.13.

Several analysts recently issued reports on the stock. Bank of America cut their price target on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Robert W. Baird upped their target price on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Finally, Guggenheim decreased their price target on Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, November 21st.

Hedge Funds Weigh In On Gentex

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC lifted its holdings in shares of Gentex by 6.3% in the 2nd quarter. AQR Capital Management LLC now owns 140,831 shares of the auto parts company’s stock worth $4,725,000 after purchasing an additional 8,374 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Gentex by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 209,219 shares of the auto parts company’s stock worth $7,053,000 after buying an additional 3,764 shares during the period. Creative Planning lifted its stake in Gentex by 4.1% in the second quarter. Creative Planning now owns 60,685 shares of the auto parts company’s stock valued at $2,046,000 after buying an additional 2,393 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of Gentex by 22.5% during the second quarter. Truist Financial Corp now owns 642,283 shares of the auto parts company’s stock valued at $21,651,000 after acquiring an additional 117,843 shares during the period. Finally, Cetera Investment Advisers grew its position in shares of Gentex by 22.9% during the second quarter. Cetera Investment Advisers now owns 157,214 shares of the auto parts company’s stock worth $5,300,000 after acquiring an additional 29,338 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Gentex Stock Up 1.4 %

Shares of GNTX opened at $28.22 on Friday. Gentex has a 52-week low of $26.58 and a 52-week high of $37.58. The firm has a market cap of $6.42 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 0.87 and a beta of 0.91. The business’s 50 day moving average is $29.06 and its two-hundred day moving average is $29.89.

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, January 8th. This represents a $0.48 annualized dividend and a yield of 1.70%. Gentex’s dividend payout ratio (DPR) is 25.67%.

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.