Gentex (NASDAQ:GNTX) Cut to Neutral at BNP Paribas

BNP Paribas lowered shares of Gentex (NASDAQ:GNTX) from an outperform rating to a neutral rating in a research report report published on Tuesday, Marketbeat reports. They currently have $34.00 price target on the auto parts company’s stock.

Other analysts also recently issued reports about the stock. Robert W. Baird reduced their price target on shares of Gentex from $40.00 to $38.00 and set an outperform rating on the stock in a report on Monday, July 29th. B. Riley reduced their price target on shares of Gentex from $44.00 to $41.00 and set a buy rating on the stock in a report on Monday, July 29th. StockNews.com downgraded shares of Gentex from a buy rating to a hold rating in a report on Thursday, July 4th. Guggenheim boosted their target price on shares of Gentex from $40.00 to $41.00 and gave the stock a buy rating in a report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Gentex from $36.00 to $35.00 and set a neutral rating on the stock in a report on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $37.33.

Gentex Stock Performance

GNTX opened at $29.85 on Tuesday. Gentex has a fifty-two week low of $27.86 and a fifty-two week high of $37.58. The firm’s fifty day moving average is $33.62 and its 200 day moving average is $34.47. The stock has a market cap of $6.90 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 0.93 and a beta of 0.93.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 17th. Stockholders of record on Friday, July 5th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $0.48 annualized dividend and a dividend yield of 1.61%. Gentex’s payout ratio is presently 25.40%.

Insider Buying and Selling

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 shares were 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 owns 3,764 shares in the company, valued at approximately $129,707.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Financial Enhancement Group LLC increased its stake in Gentex by 0.8% during the 2nd quarter. Financial Enhancement Group LLC now owns 127,834 shares of the auto parts company’s stock valued at $4,309,000 after purchasing an additional 1,003 shares in the last quarter. Mesirow Institutional Investment Management Inc. increased its stake in shares of Gentex by 0.9% in the second quarter. Mesirow Institutional Investment Management Inc. now owns 398,767 shares of the auto parts company’s stock worth $13,442,000 after acquiring an additional 3,448 shares during the period. Harfst & Associates Inc. increased its stake in shares of Gentex by 0.7% in the second quarter. Harfst & Associates Inc. now owns 66,692 shares of the auto parts company’s stock worth $2,248,000 after acquiring an additional 450 shares during the period. Aptus Capital Advisors LLC increased its stake in shares of Gentex by 24.8% in the second quarter. Aptus Capital Advisors LLC now owns 136,959 shares of the auto parts company’s stock worth $4,617,000 after acquiring an additional 27,225 shares during the period. Finally, Van ECK Associates Corp increased its stake in shares of Gentex by 15.4% in the second quarter. Van ECK Associates Corp now owns 177,346 shares of the auto parts company’s stock worth $5,978,000 after acquiring an additional 23,679 shares during the period. Institutional investors and hedge funds 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.