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

Gentex Co. (NASDAQ:GNTX) declared a quarterly dividend on Wednesday, May 29th, Zacks reports. Shareholders of record on Friday, July 5th will be given a dividend of 0.12 per share by the auto parts company on Wednesday, July 17th. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Friday, July 5th.

Gentex has raised its dividend by an average of 0.4% per year over the last three years. Gentex has a payout ratio of 19.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Gentex to earn $2.41 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 19.9%.

Gentex Stock Down 0.1 %

Shares of Gentex stock opened at $33.77 on Thursday. The business has a 50 day moving average price of $34.32 and a 200-day moving average price of $34.38. Gentex has a 52 week low of $27.86 and a 52 week high of $37.58. The company has a market cap of $7.81 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 0.95 and a beta of 0.93.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, April 26th. The auto parts company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). Gentex had a net margin of 18.77% and a return on equity of 19.19%. The firm had revenue of $590.23 million during the quarter, compared to analysts’ expectations of $600.38 million. During the same quarter in the prior year, the company earned $0.42 EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, research analysts anticipate that Gentex will post 2.11 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GNTX. B. Riley boosted their target price on Gentex from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. StockNews.com upgraded Gentex from a “hold” rating to a “buy” rating in a research note on Sunday, June 16th. Finally, Guggenheim lifted their target price on Gentex from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.83.

Insiders Place Their Bets

In other news, Director Joseph B. Anderson, Jr. sold 4,716 shares of the company’s stock in a transaction 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 transaction, the director now owns 3,764 shares of the company’s stock, valued at approximately $129,707.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.41% 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.