Gentex Co. (GNTX) to Issue Quarterly Dividend of $0.12 on July 17th

Gentex Co. (NASDAQ:GNTX) declared a quarterly dividend on Wednesday, May 29th, Zacks reports. Shareholders of record on Friday, July 5th will be given a dividend of 0.12 per share by the auto parts company on Wednesday, July 17th. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Friday, July 5th.

Gentex has raised its dividend payment by an average of 0.4% per year over the last three years. Gentex has a dividend payout ratio of 19.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Gentex to earn $2.41 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 19.9%.

Gentex Stock Up 0.6 %

Shares of NASDAQ GNTX opened at $33.80 on Wednesday. Gentex has a 12-month low of $27.86 and a 12-month high of $37.58. The firm’s 50-day simple moving average is $34.35 and its 200 day simple moving average is $34.39. The company has a market cap of $7.81 billion, a price-to-earnings ratio of 17.88, a price-to-earnings-growth ratio of 0.95 and a beta of 0.93.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, April 26th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The company had revenue of $590.23 million for the quarter, compared to analyst estimates of $600.38 million. Gentex had a return on equity of 19.19% and a net margin of 18.77%. Gentex’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.42 earnings per share. On average, equities analysts expect that Gentex will post 2.11 earnings per share for the current year.

Insider Buying and Selling at Gentex

In other news, Director Joseph B. Anderson, Jr. sold 4,716 shares of Gentex stock in a transaction on Monday, May 20th. The shares were sold at an average price of $34.46, for a total transaction of $162,513.36. Following the transaction, the director now directly owns 3,764 shares of the company’s stock, valued at $129,707.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

GNTX has been the subject of several research reports. B. Riley lifted their target price on Gentex from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Guggenheim boosted their price objective on Gentex from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, StockNews.com upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research report on Sunday, June 16th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $37.83.

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.