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

Gentex Co. (NASDAQ:GNTXGet Free Report) announced a quarterly dividend on Tuesday, March 5th, Zacks reports. Shareholders of record on Friday, April 5th will be paid a dividend of 0.12 per share by the auto parts company on Wednesday, April 17th. This represents a $0.48 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Thursday, April 4th.

Gentex has raised its dividend payment by an average of 0.4% annually over the last three years. Gentex has a payout ratio of 19.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Gentex to earn $2.44 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 19.7%.

Gentex Stock Up 0.7 %

Shares of NASDAQ GNTX opened at $36.38 on Wednesday. The business has a fifty day simple moving average of $35.36 and a two-hundred day simple moving average of $32.71. The firm has a market cap of $8.42 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 0.97 and a beta of 0.99. Gentex has a twelve month low of $25.85 and a twelve month high of $37.58.

Gentex (NASDAQ:GNTXGet Free Report) last issued its earnings results on Friday, January 26th. The auto parts company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The business had revenue of $589.13 million during the quarter, compared to analyst estimates of $563.42 million. Gentex had a return on equity of 19.25% and a net margin of 18.63%. Gentex’s revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 EPS. On average, research analysts expect that Gentex will post 2.16 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on GNTX. StockNews.com raised Gentex from a “hold” rating to a “buy” rating in a research report on Friday, February 23rd. Guggenheim boosted their price target on Gentex from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. JPMorgan Chase & Co. boosted their price target on Gentex from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. B. Riley boosted their price target on Gentex from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, The Goldman Sachs Group boosted their target price on Gentex from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $37.67.

Get Our Latest Report on Gentex

Insider Buying and Selling

In other Gentex news, CFO Kevin C. Nash sold 13,500 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total transaction of $446,040.00. Following the sale, the chief financial officer now owns 44,321 shares in the company, valued at approximately $1,464,365.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Gentex news, CFO Kevin C. Nash sold 13,500 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total transaction of $446,040.00. Following the sale, the chief financial officer now owns 44,321 shares in the company, valued at approximately $1,464,365.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard O. Schaum sold 6,022 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $33.93, for a total value of $204,326.46. Following the sale, the director now owns 62,555 shares in the company, valued at approximately $2,122,491.15. The disclosure for this sale can be found here. 0.47% of the stock is owned by company insiders.

Institutional Trading of Gentex

A number of hedge funds have recently modified their holdings of the stock. Wahed Invest LLC boosted its stake in shares of Gentex by 12.1% in the second quarter. Wahed Invest LLC now owns 3,401 shares of the auto parts company’s stock worth $100,000 after buying an additional 368 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Gentex by 0.5% in the third quarter. Commonwealth Equity Services LLC now owns 72,087 shares of the auto parts company’s stock worth $1,718,000 after buying an additional 380 shares during the last quarter. Blair William & Co. IL boosted its stake in shares of Gentex by 5.2% in the first quarter. Blair William & Co. IL now owns 8,095 shares of the auto parts company’s stock worth $227,000 after buying an additional 400 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Gentex by 5.5% in the second quarter. Franklin Resources Inc. now owns 8,213 shares of the auto parts company’s stock worth $240,000 after buying an additional 427 shares during the last quarter. Finally, Ethic Inc. boosted its stake in shares of Gentex by 4.4% in the first quarter. Ethic Inc. now owns 13,874 shares of the auto parts company’s stock worth $389,000 after buying an additional 583 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Company Profile

(Get Free Report)

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.

Further Reading

Dividend History for Gentex (NASDAQ:GNTX)

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