Gentex (NASDAQ:GNTX) Stock Gets Price Target Trim from BNP Paribas Exane

Gentex (NASDAQ:GNTX) had its price target cut by BNP Paribas Exane from $23.00 to $22.50 in a research report report published on Monday morning, Marketbeat Ratings reports. They currently have a hold rating on the auto parts company’s stock.

Several other equities research analysts also recently commented on GNTX. UBS Group reaffirmed a “neutral” rating and issued a $21.00 target price (down from $24.00) on shares of Gentex in a research note on Monday. Wall Street Zen lowered shares of Gentex from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Robert W. Baird reduced their price target on shares of Gentex from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday. JPMorgan Chase & Co. decreased their price target on shares of Gentex from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Monday. Finally, B. Riley Financial dropped their price objective on Gentex from $29.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $23.08.

Gentex Price Performance

Shares of GNTX stock opened at $20.07 on Monday. The stock has a market cap of $4.27 billion, a PE ratio of 10.79 and a beta of 0.86. The stock has a 50-day moving average of $22.06 and a 200-day moving average of $23.14. Gentex has a one year low of $19.75 and a one year high of $26.48.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, October 23rd. The auto parts company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Gentex had a net margin of 15.15% and a return on equity of 16.67%. The firm had revenue of $647.71 million during the quarter, compared to analyst estimates of $669.69 million. During the same quarter in the prior year, the business earned $0.46 earnings per share. The business’s revenue was down 1.1% on a year-over-year basis. As a group, research analysts anticipate that Gentex will post 2.04 earnings per share for the current year.

Gentex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 21st. Investors of record on Wednesday, October 7th were given a $0.12 dividend. The ex-dividend date was Wednesday, October 7th. This represents a $0.48 annualized dividend and a dividend yield of 2.4%. Gentex’s payout ratio is currently 25.81%.

Institutional Trading of Gentex

A number of large investors have recently bought and sold shares of GNTX. XXEC Inc. bought a new position in Gentex in the second quarter valued at approximately $7,705,220,000. BlackRock Inc. acquired a new position in shares of Gentex in the second quarter valued at approximately $550,287,000. Dimensional Fund Advisors LP boosted its holdings in shares of Gentex by 12.6% in the first quarter. Dimensional Fund Advisors LP now owns 7,463,299 shares of the auto parts company’s stock valued at $163,067,000 after buying an additional 833,919 shares during the period. Caisse de depot et placement du Quebec acquired a new position in shares of Gentex in the second quarter valued at approximately $79,924,000. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Gentex by 21.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,995,044 shares of the auto parts company’s stock worth $65,442,000 after acquiring an additional 534,905 shares in the last quarter. 86.76% of the stock is owned by institutional investors.

About Gentex

Gentex Corporation (NASDAQ:GNTX) is a technology manufacturer headquartered in Zeeland, Michigan. Founded in 1974, the company develops products primarily for the automotive industry, along with selected applications in the aerospace and fire-protection markets.

Gentex is best known for its automatic-dimming rearview and side-view mirrors, which use electrochromic technology to reduce glare. Its automotive product portfolio also includes camera-based driver-assistance systems, digital vision and sensing technologies, connected-car products, overhead console systems, and HomeLink universal garage-door and home-control systems.