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

Gentex Co. (NASDAQ:GNTX) announced a quarterly dividend on Tuesday, November 26th,RTT News reports. Investors of record on Wednesday, January 8th will be paid a dividend of 0.12 per share by the auto parts company on Wednesday, January 22nd. This represents a $0.48 dividend on an annualized basis and a yield of 1.54%.

Gentex has raised its dividend by an average of 0.4% per year over the last three years. Gentex has a payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Gentex to earn $2.12 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 22.6%.

Gentex Stock Performance

Shares of Gentex stock opened at $31.08 on Tuesday. The stock has a market capitalization of $7.07 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 1.07 and a beta of 0.91. Gentex has a 52 week low of $28.30 and a 52 week high of $37.58. The stock has a 50 day moving average price of $29.96 and a two-hundred day moving average price of $31.58.

Analysts Set New Price Targets

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

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.