Gentex (NASDAQ:GNTX) Shares Gap Down to $32.56

Gentex Co. (NASDAQ:GNTX)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $32.56, but opened at $30.41. Gentex shares last traded at $29.93, with a volume of 224,570 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GNTX. Guggenheim increased their target price on Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. StockNews.com cut Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. JPMorgan Chase & Co. dropped their price objective on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Robert W. Baird decreased their price target on shares of Gentex from $41.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, July 12th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Gentex Price Performance

The firm has a market cap of $7.06 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 0.94 and a beta of 0.93. The stock’s fifty day moving average price is $34.04 and its 200-day moving average price is $34.52.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, April 26th. The auto parts company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The company had revenue of $590.23 million for the quarter, compared to analysts’ expectations of $600.38 million. Gentex had a return on equity of 19.19% and a net margin of 18.77%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 EPS. On average, sell-side analysts anticipate that Gentex Co. will post 2.09 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 17th. Stockholders of record on Friday, July 5th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Friday, July 5th. Gentex’s dividend payout ratio (DPR) is presently 25.40%.

Insider Buying and Selling at Gentex

In other Gentex news, Director Joseph B. Anderson, Jr. sold 4,716 shares of Gentex stock in a transaction on Monday, May 20th. The shares were sold at an average price of $34.46, for a total value of $162,513.36. Following the transaction, the director now directly owns 3,764 shares in the company, valued at $129,707.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.41% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Gentex

Several large investors have recently modified their holdings of GNTX. Phoenix Wealth Advisors lifted its stake in shares of Gentex by 3.1% in the 2nd quarter. Phoenix Wealth Advisors now owns 10,196 shares of the auto parts company’s stock worth $344,000 after acquiring an additional 306 shares during the period. Sequoia Financial Advisors LLC lifted its position in Gentex by 0.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 50,311 shares of the auto parts company’s stock valued at $1,643,000 after purchasing an additional 336 shares during the period. GAMMA Investing LLC increased its position in Gentex by 26.3% during the 1st quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company’s stock worth $63,000 after purchasing an additional 363 shares during the period. Toronto Dominion Bank raised its stake in shares of Gentex by 0.9% during the 1st quarter. Toronto Dominion Bank now owns 42,346 shares of the auto parts company’s stock worth $1,530,000 after buying an additional 370 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its holdings in shares of Gentex by 0.5% in the 4th quarter. Eagle Asset Management Inc. now owns 69,808 shares of the auto parts company’s stock valued at $2,280,000 after buying an additional 373 shares during the period. Hedge funds and other 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.