Gentex Co. (GNTX) To Go Ex-Dividend on January 8th

Gentex Co. (NASDAQ:GNTX) announced a quarterly dividend on Tuesday, November 26th,RTT News reports. Stockholders of record on Wednesday, January 8th will be given a dividend of 0.12 per share by the auto parts company on Wednesday, January 22nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Wednesday, January 8th.

Gentex has a payout ratio of 21.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Gentex to earn $2.10 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 22.9%.

Gentex Price Performance

Shares of NASDAQ GNTX opened at $28.04 on Monday. Gentex has a 1 year low of $27.83 and a 1 year high of $37.58. The company has a market capitalization of $6.38 billion, a P/E ratio of 14.99, a P/E/G ratio of 1.08 and a beta of 0.91. The company has a 50 day simple moving average of $30.02 and a 200-day simple moving average of $30.65.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GNTX. The Goldman Sachs Group reduced their target price on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Guggenheim reduced their price objective on Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Bank of America cut their price objective on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Finally, Robert W. Baird boosted their price target on Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $35.13.

About Gentex

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.