Gentex (NASDAQ:GNTX) Shares Gap Down to $34.65

Gentex Co. (NASDAQ:GNTX) shares gapped down before the market opened on Friday . The stock had previously closed at $34.65, but opened at $33.73. Gentex shares last traded at $34.16, with a volume of 413,466 shares traded.

Analysts Set New Price Targets

GNTX has been the subject of a number of recent research reports. Guggenheim raised their price objective on shares of Gentex from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. StockNews.com raised shares of Gentex from a “hold” rating to a “buy” rating in a research note on Friday, February 23rd. B. Riley boosted their price objective on shares of Gentex from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. JPMorgan Chase & Co. boosted their price objective on shares of Gentex from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Finally, The Goldman Sachs Group boosted their price objective on shares of Gentex from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.83.

Gentex Stock Performance

The firm has a market cap of $8.03 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 0.74 and a beta of 0.99. The company’s fifty day moving average is $35.68 and its two-hundred day moving average is $33.06.

Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, January 26th. The auto parts company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.06. The business had revenue of $589.13 million for the quarter, compared to analyst estimates of $563.42 million. Gentex had a net margin of 18.63% and a return on equity of 19.25%. The business’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.37 EPS. As a group, analysts forecast that Gentex Co. will post 2.17 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Friday, April 5th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, April 4th. This represents a $0.48 annualized dividend and a dividend yield of 1.38%. Gentex’s payout ratio is 26.09%.

Insider Activity at Gentex

In other Gentex news, Director Richard O. Schaum sold 6,022 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $33.93, for a total value of $204,326.46. Following the transaction, the director now owns 62,555 shares in the company, valued at approximately $2,122,491.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Gentex news, Director Richard O. Schaum sold 6,022 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $33.93, for a total value of $204,326.46. Following the transaction, the director now owns 62,555 shares in the company, valued at approximately $2,122,491.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin C. Nash sold 13,500 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total transaction of $446,040.00. Following the completion of the transaction, the chief financial officer now owns 44,321 shares in the company, valued at approximately $1,464,365.84. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Gentex

Several hedge funds and other institutional investors have recently modified their holdings of GNTX. CWM LLC increased its position in shares of Gentex by 15.2% in the 3rd quarter. CWM LLC now owns 10,697 shares of the auto parts company’s stock worth $348,000 after purchasing an additional 1,409 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Gentex by 149.7% in the 3rd quarter. SG Americas Securities LLC now owns 60,315 shares of the auto parts company’s stock worth $1,963,000 after purchasing an additional 36,159 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of Gentex in the 3rd quarter worth about $119,000. Oak Thistle LLC bought a new stake in shares of Gentex in the 3rd quarter worth about $883,000. Finally, Simplicity Solutions LLC increased its position in shares of Gentex by 6.7% in the 3rd quarter. Simplicity Solutions LLC now owns 23,811 shares of the auto parts company’s stock worth $775,000 after purchasing an additional 1,501 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.

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.