Gentex Co. Plans Quarterly Dividend of $0.12 (NASDAQ:GNTX)

Gentex Co. (NASDAQ:GNTX) announced a quarterly dividend on Friday, August 30th, Zacks reports. Stockholders of record on Wednesday, October 9th will be paid a dividend of 0.12 per share by the auto parts company on Wednesday, October 23rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Wednesday, October 9th.

Gentex has increased its dividend by an average of 0.4% per year over the last three years. Gentex has a payout ratio of 21.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Gentex to earn $2.32 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 20.7%.

Gentex Stock Down 0.4 %

Shares of NASDAQ GNTX opened at $28.89 on Tuesday. Gentex has a twelve month low of $27.86 and a twelve month high of $37.58. The company’s fifty day moving average is $29.96 and its 200-day moving average is $32.86. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of 15.29, a P/E/G ratio of 0.99 and a beta of 0.92.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, July 26th. The auto parts company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.15). Gentex had a net margin of 17.87% and a return on equity of 17.78%. The company had revenue of $572.93 million during the quarter, compared to the consensus estimate of $623.28 million. On average, research analysts anticipate that Gentex will post 1.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Corp Gentex bought 3,152,500 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was purchased at an average cost of $5.00 per share, for a total transaction of $15,762,500.00. Following the completion of the transaction, the insider now owns 6,463,808 shares of the company’s stock, valued at $32,319,040. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. BNP Paribas downgraded shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research note on Tuesday, July 30th. B. Riley reduced their price target on Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Monday, July 29th. UBS Group assumed coverage on Gentex in a research report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price target on the stock. Robert W. Baird cut their price objective on Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Monday, July 29th. Finally, The Goldman Sachs Group lowered their target price on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Gentex presently has a consensus rating of “Hold” and a consensus price target of $36.29.

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.