Gentex (NASDAQ:GNTX) Reaches New 52-Week High at $24.96

Gentex Co. (NASDAQ:GNTX)’s share price reached a new 52-week high on Thursday . The company traded as high as $24.96 and last traded at $24.95, with a volume of 80219 shares trading hands. The stock had previously closed at $24.37.

GNTX has been the topic of several research reports. BidaskClub raised Gentex from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Zacks Investment Research raised Gentex from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Thursday, May 16th. ValuEngine raised Gentex from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Finally, BMO Capital Markets dropped their price objective on Gentex from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Tuesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $22.28.

The company has a fifty day moving average price of $22.92. The stock has a market capitalization of $6.38 billion, a P/E ratio of 15.19, a PEG ratio of 2.53 and a beta of 1.15.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Wednesday, April 24th. The auto parts company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.01. The company had revenue of $468.60 million for the quarter, compared to analyst estimates of $463.79 million. Gentex had a return on equity of 23.03% and a net margin of 23.45%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the company posted $0.40 earnings per share. Research analysts forecast that Gentex Co. will post 1.64 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Tuesday, July 9th. Gentex’s payout ratio is 28.40%.

In related news, Director Gary F. Goode sold 5,045 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $23.20, for a total transaction of $117,044.00. Following the transaction, the director now owns 21,045 shares of the company’s stock, valued at $488,244. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.37% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GNTX. Bremer Trust National Association purchased a new position in shares of Gentex during the fourth quarter worth about $25,000. Creative Financial Designs Inc. ADV acquired a new stake in Gentex in the first quarter valued at about $27,000. Bremer Bank National Association acquired a new stake in Gentex in the first quarter valued at about $29,000. Icon Wealth Partners LLC acquired a new stake in Gentex in the first quarter valued at about $31,000. Finally, Dubuque Bank & Trust Co. acquired a new stake in Gentex in the first quarter valued at about $33,000. 82.60% of the stock is currently owned by hedge funds and other institutional investors.

About Gentex (NASDAQ:GNTX)

Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It designs, develops, manufactures, and markets 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, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.

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