B. Riley Cuts Gentex (NASDAQ:GNTX) Price Target to $41.00

Gentex (NASDAQ:GNTX) had its price objective decreased by B. Riley from $44.00 to $41.00 in a research note published on Monday morning, Benzinga reports. B. Riley currently has a buy rating on the auto parts company’s stock. B. Riley also issued estimates for Gentex’s Q3 2024 earnings at $0.53 EPS, Q4 2024 earnings at $0.56 EPS, FY2024 earnings at $1.93 EPS and FY2025 earnings at $2.23 EPS.

GNTX has been the subject of several other research reports. JPMorgan Chase & Co. lowered their price target on Gentex from $36.00 to $35.00 and set a neutral rating for the company in a research report on Monday, July 22nd. StockNews.com lowered Gentex from a buy rating to a hold rating in a research report on Thursday, July 4th. Guggenheim lifted their price target on Gentex from $40.00 to $41.00 and gave the stock a buy rating in a research report on Wednesday, April 17th. Finally, Robert W. Baird lowered their price target on Gentex from $40.00 to $38.00 and set an outperform rating for the company in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $37.33.

Gentex Trading Down 1.9 %

Shares of Gentex stock opened at $30.46 on Monday. The business has a fifty day simple moving average of $33.71 and a two-hundred day simple moving average of $34.49. The firm has a market capitalization of $7.04 billion, a P/E ratio of 16.12, a P/E/G ratio of 0.93 and a beta of 0.93. Gentex has a 12 month low of $27.86 and a 12 month high of $37.58.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 17th. Investors of record on Friday, July 5th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.58%. Gentex’s dividend payout ratio (DPR) is presently 25.40%.

Insider Activity at Gentex

In related news, Director Joseph B. Anderson, Jr. sold 4,716 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $34.46, for a total transaction of $162,513.36. Following the completion of the transaction, the director now directly owns 3,764 shares in the company, valued at approximately $129,707.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its holdings in Gentex by 129.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 111,827 shares of the auto parts company’s stock worth $3,652,000 after purchasing an additional 63,152 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Gentex by 58.1% during the 4th quarter. TD Asset Management Inc now owns 3,313,757 shares of the auto parts company’s stock worth $108,227,000 after acquiring an additional 1,217,278 shares in the last quarter. Thematics Asset Management raised its holdings in shares of Gentex by 51.2% during the 4th quarter. Thematics Asset Management now owns 523,207 shares of the auto parts company’s stock worth $17,088,000 after acquiring an additional 177,207 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Gentex by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 22,280,716 shares of the auto parts company’s stock worth $727,688,000 after acquiring an additional 163,373 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of 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 in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

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.