Gentex (NASDAQ:GNTX) Given New $23.00 Price Target at The Goldman Sachs Group

Gentex (NASDAQ:GNTX) had its price target reduced by The Goldman Sachs Group from $28.00 to $23.00 in a research report sent to investors on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the auto parts company’s stock.

Several other analysts also recently commented on GNTX. B. Riley reissued a “buy” rating and issued a $32.50 target price (down from $37.00) on shares of Gentex in a research report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price objective on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Robert W. Baird set a $31.00 target price on Gentex in a report on Monday, February 3rd. UBS Group reduced their price target on Gentex from $29.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Guggenheim set a $30.00 price objective on Gentex in a research note on Wednesday, March 5th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Gentex presently has a consensus rating of “Hold” and a consensus target price of $29.81.

Gentex Trading Down 3.9 %

Shares of NASDAQ:GNTX opened at $20.95 on Thursday. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 11.90, a P/E/G ratio of 0.84 and a beta of 0.84. Gentex has a 1 year low of $20.28 and a 1 year high of $35.34. The business has a fifty day simple moving average of $23.98 and a 200 day simple moving average of $27.49.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.10). Gentex had a return on equity of 16.74% and a net margin of 17.49%. During the same period in the previous year, the company earned $0.50 EPS. On average, sell-side analysts forecast that Gentex will post 2.04 EPS for the current year.

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $0.48 annualized dividend and a dividend yield of 2.29%. Gentex’s dividend payout ratio is presently 27.27%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GNTX. JPMorgan Chase & Co. grew its stake in shares of Gentex by 179.7% in the third quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company’s stock worth $59,404,000 after acquiring an additional 1,285,519 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Gentex by 16.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,787,311 shares of the auto parts company’s stock valued at $80,079,000 after purchasing an additional 386,461 shares during the period. Geode Capital Management LLC grew its position in Gentex by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company’s stock worth $159,406,000 after purchasing an additional 285,802 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Gentex during the 4th quarter worth about $24,479,000. Finally, BCGM Wealth Management LLC raised its position in shares of Gentex by 64.2% during the fourth quarter. BCGM Wealth Management LLC now owns 56,743 shares of the auto parts company’s stock valued at $1,630,000 after buying an additional 22,180 shares during the last quarter. 86.76% of the stock is 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.