Analysts Set Gentex Co. (NASDAQ:GNTX) Target Price at $35.13

Gentex Co. (NASDAQ:GNTX) has been assigned an average rating of “Hold” from the eight research firms that are currently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $35.13.

GNTX has been the topic of several research reports. Robert W. Baird raised their price target on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, October 28th. The Goldman Sachs Group dropped their price objective on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. Guggenheim reduced their target price on shares of Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Finally, Bank of America lowered their price target on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, October 14th.

Institutional Investors Weigh In On Gentex

Hedge funds and other institutional investors have recently bought and sold shares of the business. Arizona State Retirement System raised its holdings in Gentex by 1.1% in the second quarter. Arizona State Retirement System now owns 64,807 shares of the auto parts company’s stock valued at $2,185,000 after acquiring an additional 704 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of Gentex by 46.4% in the 2nd quarter. Private Advisor Group LLC now owns 28,939 shares of the auto parts company’s stock valued at $976,000 after purchasing an additional 9,171 shares in the last quarter. Quest Partners LLC bought a new position in shares of Gentex during the second quarter worth about $31,000. Choreo LLC acquired a new position in Gentex in the second quarter worth about $370,000. Finally, United Services Automobile Association increased its holdings in Gentex by 2.5% in the second quarter. United Services Automobile Association now owns 17,447 shares of the auto parts company’s stock valued at $588,000 after buying an additional 427 shares during the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Gentex Price Performance

Gentex stock opened at $27.18 on Monday. The company has a market cap of $6.18 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 1.08 and a beta of 0.91. Gentex has a 12 month low of $27.02 and a 12 month high of $37.58. The stock’s 50-day moving average is $29.80 and its 200-day moving average is $30.52.

Gentex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $0.48 dividend on an annualized basis and a yield of 1.77%. Gentex’s payout ratio is currently 25.67%.

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.