Gentex (NASDAQ:GNTX) Given New $29.00 Price Target at UBS Group

Gentex (NASDAQ:GNTX) had its target price decreased by UBS Group from $30.00 to $29.00 in a research report released on Monday morning,Benzinga reports. UBS Group currently has a neutral rating on the auto parts company’s stock.

A number of other brokerages have also issued reports on GNTX. JPMorgan Chase & Co. reduced their target price on Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday. Bank of America reduced their target price on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. B. Riley restated a “buy” rating and issued a $32.50 target price (down previously from $37.00) on shares of Gentex in a research note on Monday. Robert W. Baird raised their target price on Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Finally, Guggenheim reduced their target price on Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $33.06.

Gentex Price Performance

Gentex stock opened at $25.30 on Monday. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 0.86 and a beta of 0.91. Gentex has a 1-year low of $24.57 and a 1-year high of $37.58. The business has a fifty day moving average price of $28.71 and a 200-day moving average price of $29.63.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, January 31st. The auto parts company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.10). Gentex had a return on equity of 16.74% and a net margin of 17.49%. During the same period last year, the firm posted $0.50 earnings per share. On average, equities research analysts anticipate that Gentex will post 2.1 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, January 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.90%. Gentex’s payout ratio is currently 27.27%.

Institutional Investors Weigh In On Gentex

A number of institutional investors have recently modified their holdings of the business. EdgePoint Investment Group Inc. grew its position in shares of Gentex by 1.5% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 7,699,919 shares of the auto parts company’s stock valued at $228,611,000 after acquiring an additional 111,500 shares during the period. Geode Capital Management LLC boosted its holdings in Gentex by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company’s stock worth $159,406,000 after buying an additional 285,802 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in Gentex by 5.5% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 4,493,914 shares of the auto parts company’s stock worth $133,424,000 after buying an additional 234,083 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Gentex by 16.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,787,311 shares of the auto parts company’s stock worth $80,079,000 after buying an additional 386,461 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Gentex by 179.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company’s stock worth $59,404,000 after buying an additional 1,285,519 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

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.