Gentex (NASDAQ:GNTX) Earns Neutral Rating from Analysts at UBS Group

UBS Group started coverage on shares of Gentex (NASDAQ:GNTX) in a report issued on Wednesday, MarketBeat.com reports. The firm issued a neutral rating and a $34.00 price target on the auto parts company’s stock.

Several other equities analysts also recently commented on GNTX. Robert W. Baird lowered their price target on Gentex from $40.00 to $38.00 and set an outperform rating on the stock in a report on Monday, July 29th. BNP Paribas downgraded shares of Gentex from an outperform rating to a neutral rating and set a $34.00 target price on the stock. in a report on Tuesday, July 30th. JPMorgan Chase & Co. decreased their price target on shares of Gentex from $36.00 to $35.00 and set a neutral rating for the company in a report on Monday, July 22nd. B. Riley lowered their price target on Gentex from $44.00 to $41.00 and set a buy rating on the stock in a research report on Monday, July 29th. Finally, StockNews.com cut Gentex from a buy rating to a hold rating in a research report on Thursday, July 4th. Five 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, Gentex has an average rating of Hold and an average target price of $36.86.

Gentex Trading Down 1.8 %

Shares of NASDAQ:GNTX opened at $30.03 on Wednesday. The stock has a market capitalization of $6.94 billion, a PE ratio of 15.89, a P/E/G ratio of 1.03 and a beta of 0.93. Gentex has a 1 year low of $27.86 and a 1 year high of $37.58. The firm has a fifty day moving average price of $31.53 and a 200 day moving average price of $33.82.

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). The company had revenue of $572.93 million during the quarter, compared to analyst estimates of $623.28 million. Gentex had a return on equity of 17.78% and a net margin of 17.87%. On average, sell-side analysts forecast that Gentex will post 1.96 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Wednesday, October 9th. Gentex’s dividend payout ratio (DPR) is presently 25.40%.

Insider Activity at Gentex

In other news, major shareholder Corp Gentex acquired 3,152,500 shares of Gentex stock in a transaction on Friday, August 23rd. The stock was bought at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the transaction, the insider now owns 6,463,808 shares of the company’s stock, valued at $32,319,040. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GNTX. Norges Bank acquired a new position in shares of Gentex in the 4th quarter valued at $89,843,000. Scharf Investments LLC raised its position in Gentex by 36,001.4% in the second quarter. Scharf Investments LLC now owns 2,278,357 shares of the auto parts company’s stock worth $76,803,000 after purchasing an additional 2,272,046 shares in the last quarter. First Trust Advisors LP raised its position in Gentex by 301.6% in the fourth quarter. First Trust Advisors LP now owns 2,568,775 shares of the auto parts company’s stock worth $83,896,000 after purchasing an additional 1,929,150 shares in the last quarter. Wellington Management Group LLP lifted its stake in Gentex by 27.9% during the fourth quarter. Wellington Management Group LLP now owns 8,728,378 shares of the auto parts company’s stock worth $285,069,000 after purchasing an additional 1,905,356 shares during the period. Finally, TD Asset Management Inc boosted its holdings in Gentex by 41.2% during 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 purchasing an additional 1,363,898 shares in the last quarter. 86.76% of the stock is owned by 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.