Gentex (NASDAQ:GNTX) Price Target Raised to $41.00 at Guggenheim

Gentex (NASDAQ:GNTX) had its target price upped by Guggenheim from $40.00 to $41.00 in a research report report published on Wednesday, Benzinga reports. They currently have a buy rating on the auto parts company’s stock.

Several other analysts also recently weighed in on the company. B. Riley boosted their target price on Gentex from $42.00 to $44.00 and gave the company a buy rating in a report on Wednesday, March 20th. JPMorgan Chase & Co. boosted their price objective on Gentex from $36.00 to $37.00 and gave the company a neutral rating in a research note on Thursday, January 25th. StockNews.com upgraded shares of Gentex from a hold rating to a buy rating in a research report on Friday, February 23rd. Finally, The Goldman Sachs Group upped their price target on shares of Gentex from $31.00 to $35.00 and gave the company a neutral rating in a research report on Monday, January 29th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Gentex has a consensus rating of Moderate Buy and an average target price of $37.83.

Gentex Trading Up 1.0 %

GNTX stock opened at $33.91 on Wednesday. The stock has a market cap of $7.84 billion, a P/E ratio of 18.43, a PEG ratio of 0.71 and a beta of 0.99. Gentex has a twelve month low of $25.85 and a twelve month high of $37.58. The company’s 50 day moving average is $35.70 and its two-hundred day moving average is $32.98.

Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, January 26th. The auto parts company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. Gentex had a net margin of 18.63% and a return on equity of 19.25%. The firm had revenue of $589.13 million for the quarter, compared to the consensus estimate of $563.42 million. During the same period last year, the firm posted $0.37 EPS. The company’s revenue was up 19.3% on a year-over-year basis. On average, equities research analysts predict that Gentex will post 2.16 earnings per share for the current year.

Gentex Dividend Announcement

The business also recently declared 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. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Thursday, April 4th. Gentex’s dividend payout ratio is presently 26.09%.

Insider Activity at Gentex

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

Institutional Investors Weigh In On Gentex

Several institutional investors have recently made changes to their positions in the stock. Merit Financial Group LLC purchased a new stake in Gentex during the third quarter worth about $618,000. IFG Advisory LLC boosted its stake in shares of Gentex by 85.1% during the 4th quarter. IFG Advisory LLC now owns 129,203 shares of the auto parts company’s stock worth $4,220,000 after acquiring an additional 59,407 shares in the last quarter. New York Life Investment Management LLC grew its holdings in shares of Gentex by 112.3% in the 3rd quarter. New York Life Investment Management LLC now owns 24,876 shares of the auto parts company’s stock worth $809,000 after acquiring an additional 13,161 shares during the period. Jump Financial LLC increased its stake in Gentex by 130.7% in the 3rd quarter. Jump Financial LLC now owns 123,805 shares of the auto parts company’s stock valued at $4,029,000 after purchasing an additional 70,138 shares in the last quarter. Finally, Epoch Investment Partners Inc. increased its stake in Gentex by 1.9% in the 3rd quarter. Epoch Investment Partners Inc. now owns 1,951,077 shares of the auto parts company’s stock valued at $63,488,000 after purchasing an additional 36,461 shares in the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

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.