Gentex Co. (NASDAQ:GNTX) Receives $30.80 Consensus PT from Analysts

Gentex Co. (NASDAQ:GNTX – Get Rating) has been assigned an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $30.80.

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group raised shares of Gentex from a “sell” rating to a “neutral” rating and increased their target price for the stock from $24.00 to $26.00 in a report on Wednesday, December 14th. StockNews.com upgraded Gentex from a “hold” rating to a “buy” rating in a research note on Sunday, February 26th. Finally, TheStreet upgraded Gentex from a “c+” rating to a “b” rating in a research note on Friday, January 27th.

Insider Activity

In other news, CEO Steven R. Downing sold 17,730 shares of the stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $30.21, for a total transaction of $535,623.30. Following the completion of the transaction, the chief executive officer now directly owns 118,506 shares in the company, valued at approximately $3,580,066.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, General Counsel Scott P. Ryan sold 9,895 shares of the stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $28.29, for a total transaction of $279,929.55. Following the completion of the transaction, the general counsel now directly owns 20,631 shares in the company, valued at approximately $583,650.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steven R. Downing sold 17,730 shares of the stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $30.21, for a total value of $535,623.30. Following the sale, the chief executive officer now owns 118,506 shares in the company, valued at approximately $3,580,066.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,401 shares of company stock worth $1,014,903. 0.16% of the stock is currently owned by insiders.

Institutional Trading of Gentex

Several hedge funds and other institutional investors have recently bought and sold shares of GNTX. Moneta Group Investment Advisors LLC raised its holdings in Gentex by 99,783.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,630,950 shares of the auto parts company’s stock valued at $235,366,000 after buying an additional 8,622,309 shares during the period. Ariel Investments LLC raised its holdings in Gentex by 92.4% during the 1st quarter. Ariel Investments LLC now owns 8,174,011 shares of the auto parts company’s stock valued at $238,436,000 after buying an additional 3,925,355 shares during the period. Morgan Stanley raised its holdings in Gentex by 147.7% during the 4th quarter. Morgan Stanley now owns 3,801,402 shares of the auto parts company’s stock valued at $103,664,000 after buying an additional 2,266,973 shares during the period. Norges Bank purchased a new stake in Gentex during the 4th quarter valued at $58,990,000. Finally, Maj Invest Holding A S raised its holdings in Gentex by 16.6% during the 3rd quarter. Maj Invest Holding A S now owns 7,284,357 shares of the auto parts company’s stock valued at $212,486,000 after buying an additional 1,039,243 shares during the period. Hedge funds and other institutional investors own 83.80% of the company’s stock.

Gentex Stock Up 0.6 %

NASDAQ GNTX opened at $28.75 on Thursday. Gentex has a 52 week low of $23.28 and a 52 week high of $31.48. The firm has a market capitalization of $6.73 billion, a P/E ratio of 21.14, a PEG ratio of 1.07 and a beta of 0.92. The company has a 50-day moving average price of $28.48 and a 200-day moving average price of $27.32.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 19th. Stockholders of record on Friday, April 7th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, April 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.67%. Gentex’s dividend payout ratio is currently 35.29%.

Gentex Company Profile

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Gentex Corp. is a technology company, which engages in the design, development, and manufacture and supply of digital vision, connected car, dimmable glass, and fire protection products. The firm operates through Automotive Products and Other segments. The Automotive Products segment operates in virtually all the foregoing facilities.