Gentex (NASDAQ:GNTX) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Gentex (NASDAQ:GNTX) had its price target boosted by Robert W. Baird from $35.00 to $37.00 in a report issued on Monday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the auto parts company’s stock.

A number of other equities analysts have also commented on the company. StockNews.com lowered Gentex from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. UBS Group assumed coverage on Gentex in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price target on the stock. BNP Paribas cut Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research report on Tuesday, July 30th. JPMorgan Chase & Co. dropped their target price on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Finally, B. Riley cut their target price on shares of Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Monday, July 29th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Gentex presently has a consensus rating of “Hold” and an average price target of $36.00.

Gentex Trading Down 2.6 %

NASDAQ:GNTX opened at $30.31 on Monday. The firm has a market capitalization of $6.98 billion, a PE ratio of 16.21, a PEG ratio of 0.91 and a beta of 0.92. Gentex has a 1 year low of $28.25 and a 1 year high of $37.58. The firm’s fifty day simple moving average is $29.98 and its 200 day simple moving average is $32.11.

Gentex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Wednesday, October 9th. Gentex’s dividend payout ratio is 25.67%.

Insider Transactions at Gentex

In related news, major shareholder Corp Gentex acquired 3,152,500 shares of the stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost of $5.00 per share, for a total transaction of $15,762,500.00. Following the purchase, the insider now owns 6,463,808 shares in the company, valued at approximately $32,319,040. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is owned by insiders.

Institutional Investors Weigh In On Gentex

Several large investors have recently made changes to their positions in the company. TD Asset Management Inc boosted its position in Gentex by 41.2% in the first quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock valued at $168,957,000 after buying an additional 1,363,898 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Gentex by 91.0% in the 1st quarter. Cetera Investment Advisers now owns 127,876 shares of the auto parts company’s stock worth $4,619,000 after acquiring an additional 60,934 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Gentex by 15.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 411,535 shares of the auto parts company’s stock worth $14,865,000 after acquiring an additional 55,748 shares during the last quarter. BNP Paribas acquired a new stake in Gentex during the 1st quarter valued at $1,073,000. Finally, Leeward Investments LLC MA bought a new position in Gentex in the 1st quarter valued at $28,289,000. Institutional investors own 86.76% of the company’s stock.

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.