Gentex Co. (NASDAQ:GNTX) to Issue Quarterly Dividend of $0.12

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 annualized dividend and a dividend yield of 1.55%.

Gentex has raised its dividend by an average of 0.4% annually over the last three years. Gentex has a dividend payout ratio of 23.1% 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

NASDAQ GNTX traded down $0.20 during trading on Wednesday, reaching $30.88. 1,371,438 shares of the company’s stock traded hands, compared to its average volume of 1,373,682. Gentex has a 12-month low of $28.30 and a 12-month high of $37.58. The company’s 50 day simple moving average is $29.99 and its two-hundred day simple moving average is $31.55. The firm has a market cap of $7.02 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 1.09 and a beta of 0.91.

Wall Street Analysts Forecast Growth

GNTX has been the topic of a number of recent research reports. The Goldman Sachs Group lowered their target price on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. Robert W. Baird increased their target price on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Bank of America dropped their target price on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Guggenheim reduced their price target on shares of Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Finally, UBS Group began coverage on shares of Gentex in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 target price on the stock. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $35.13.

Gentex Company Profile

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.