Gentex (NASDAQ:GNTX) Sets New 12-Month Low – Here’s What Happened

Shares of Gentex Co. (NASDAQ:GNTX) reached a new 52-week low on Thursday . The stock traded as low as $28.22 and last traded at $28.26, with a volume of 559455 shares traded. The stock had previously closed at $28.73.

Analyst Ratings Changes

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

Gentex Stock Performance

The stock’s 50-day simple moving average is $30.11 and its 200 day simple moving average is $30.74. The company has a market cap of $6.41 billion, a PE ratio of 15.08, a P/E/G ratio of 1.09 and a beta of 0.91.

Gentex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $0.48 annualized dividend and a dividend yield of 1.70%. Gentex’s payout ratio is currently 25.67%.

Institutional Trading of Gentex

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC lifted its position in shares of Gentex by 30.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 294,169 shares of the auto parts company’s stock valued at $9,916,000 after acquiring an additional 69,033 shares during the period. Van ECK Associates Corp grew its position in shares of Gentex by 15.4% in the second quarter. Van ECK Associates Corp now owns 177,346 shares of the auto parts company’s stock valued at $5,978,000 after purchasing an additional 23,679 shares during the last quarter. Mesirow Institutional Investment Management Inc. increased its stake in shares of Gentex by 0.9% during the 2nd quarter. Mesirow Institutional Investment Management Inc. now owns 398,767 shares of the auto parts company’s stock worth $13,442,000 after purchasing an additional 3,448 shares in the last quarter. Financial Enhancement Group LLC raised its position in shares of Gentex by 0.8% during the 2nd quarter. Financial Enhancement Group LLC now owns 127,834 shares of the auto parts company’s stock worth $4,309,000 after purchasing an additional 1,003 shares during the last quarter. Finally, Hendershot Investments Inc. lifted its stake in Gentex by 4.9% in the 2nd quarter. Hendershot Investments Inc. now owns 630,686 shares of the auto parts company’s stock valued at $21,260,000 after buying an additional 29,484 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

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.