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

Gentex Co. (NASDAQ:GNTXGet Rating) declared a quarterly dividend on Friday, May 27th, Zacks reports. Shareholders of record on Friday, July 8th will be paid a dividend of 0.12 per share by the auto parts company on Wednesday, July 20th. This represents a $0.48 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Thursday, July 7th.

Gentex has increased its dividend by an average of 2.9% annually over the last three years. Gentex has a dividend payout ratio of 22.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Gentex to earn $2.16 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 22.2%.

Shares of Gentex stock opened at $31.30 on Friday. The company has a market capitalization of $7.34 billion, a PE ratio of 22.36, a P/E/G ratio of 1.59 and a beta of 0.89. The company has a 50-day simple moving average of $29.06 and a two-hundred day simple moving average of $31.64. Gentex has a one year low of $27.06 and a one year high of $37.90.

Gentex (NASDAQ:GNTXGet Rating) last posted its quarterly earnings data on Friday, April 22nd. The auto parts company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05. Gentex had a net margin of 19.52% and a return on equity of 17.46%. The firm had revenue of $468.50 million for the quarter, compared to the consensus estimate of $432.40 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, equities research analysts predict that Gentex will post 1.64 EPS for the current year.

Several equities analysts have recently issued reports on GNTX shares. StockNews.com started coverage on shares of Gentex in a report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research upgraded shares of Gentex from a “sell” rating to a “hold” rating and set a $31.00 price objective on the stock in a report on Wednesday, April 27th. BNP Paribas started coverage on Gentex in a research report on Monday, April 11th. They issued an “outperform” rating on the stock. The Goldman Sachs Group dropped their target price on Gentex from $28.00 to $25.00 and set a “sell” rating on the stock in a research report on Tuesday, March 22nd. Finally, Robert W. Baird upped their target price on Gentex from $33.00 to $34.00 in a research report on Monday, April 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $33.38.

In related news, VP Matthew Chiodo sold 5,700 shares of the stock in a transaction on Thursday, March 31st. The stock was sold at an average price of $29.24, for a total value of $166,668.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Neil Boehm sold 4,500 shares of the stock in a transaction on Thursday, March 31st. The shares were sold at an average price of $29.24, for a total value of $131,580.00. The disclosure for this sale can be found here. Insiders have sold a total of 13,045 shares of company stock worth $384,082 in the last quarter. Insiders own 0.16% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of GNTX. Cubist Systematic Strategies LLC acquired a new position in Gentex in the 4th quarter valued at $2,244,000. Millennium Management LLC increased its stake in shares of Gentex by 3.8% in the 4th quarter. Millennium Management LLC now owns 74,748 shares of the auto parts company’s stock worth $2,605,000 after acquiring an additional 2,733 shares during the last quarter. Silvercrest Asset Management Group LLC increased its stake in shares of Gentex by 11.0% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 15,189 shares of the auto parts company’s stock worth $529,000 after acquiring an additional 1,511 shares during the last quarter. Amalgamated Bank increased its stake in shares of Gentex by 1.8% in the 4th quarter. Amalgamated Bank now owns 176,057 shares of the auto parts company’s stock worth $6,136,000 after acquiring an additional 3,115 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY increased its stake in shares of Gentex by 8.9% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 42,320 shares of the auto parts company’s stock worth $1,475,000 after acquiring an additional 3,444 shares during the last quarter. 86.24% of the stock is owned by hedge funds and other institutional investors.

Gentex Company Profile (Get Rating)

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, 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.

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Dividend History for Gentex (NASDAQ:GNTX)

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