The Goldman Sachs Group Cuts Gentex (NASDAQ:GNTX) Price Target to $31.00

Gentex (NASDAQ:GNTX) had its price target decreased by The Goldman Sachs Group from $33.00 to $31.00 in a research report sent to investors on Tuesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the auto parts company’s stock.

Several other equities research analysts have also recently commented on the company. UBS Group began coverage on Gentex in a research note on Wednesday, September 4th. They issued a neutral rating and a $34.00 target price for the company. Robert W. Baird reduced their price target on Gentex from $40.00 to $38.00 and set an outperform rating on the stock in a research report on Monday, July 29th. B. Riley dropped their price objective on Gentex from $44.00 to $41.00 and set a buy rating for the company in a report on Monday, July 29th. JPMorgan Chase & Co. reduced their target price on Gentex from $36.00 to $35.00 and set a neutral rating on the stock in a report on Monday, July 22nd. Finally, StockNews.com cut Gentex from a buy rating to a hold rating in a research note on Thursday, July 4th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Gentex presently has a consensus rating of Hold and an average price target of $36.29.

Gentex Stock Down 0.5 %

Shares of NASDAQ:GNTX opened at $29.00 on Tuesday. The firm has a market cap of $6.70 billion, a P/E ratio of 15.34, a P/E/G ratio of 0.99 and a beta of 0.92. Gentex has a 12 month low of $27.86 and a 12 month high of $37.58. The company’s 50-day moving average price is $29.96 and its two-hundred day moving average price is $32.91.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, July 26th. The auto parts company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.15). The company had revenue of $572.93 million for the quarter, compared to the consensus estimate of $623.28 million. Gentex had a net margin of 17.87% and a return on equity of 17.78%. As a group, equities analysts predict that Gentex will post 1.96 earnings per share for the current fiscal year.

Gentex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Wednesday, October 9th. Gentex’s dividend payout ratio is presently 25.40%.

Insider Buying and Selling at Gentex

In other Gentex news, major shareholder Corp Gentex bought 3,152,500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $5.00 per share, with a total value of $15,762,500.00. Following the acquisition, the insider now owns 6,463,808 shares of the company’s stock, valued at $32,319,040. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.41% of the company’s stock.

Institutional Trading of Gentex

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Gentex by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 22,280,716 shares of the auto parts company’s stock worth $727,688,000 after buying an additional 163,373 shares during the period. Wellington Management Group LLP increased its position in Gentex by 27.9% during the fourth quarter. Wellington Management Group LLP now owns 8,728,378 shares of the auto parts company’s stock worth $285,069,000 after acquiring an additional 1,905,356 shares during the period. Boston Partners increased its position in Gentex by 4.2% during the first quarter. Boston Partners now owns 5,706,411 shares of the auto parts company’s stock worth $206,095,000 after acquiring an additional 230,873 shares during the period. TD Asset Management Inc raised its stake in Gentex by 41.2% in the 1st quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock worth $168,957,000 after purchasing an additional 1,363,898 shares in the last quarter. Finally, Burgundy Asset Management Ltd. boosted its holdings in Gentex by 3.0% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,343,880 shares of the auto parts company’s stock valued at $146,432,000 after purchasing an additional 126,416 shares during the period. 86.76% of the stock is currently owned by institutional investors.

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.