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

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

Gentex stock opened at $36.38 on Wednesday. The company has a 50 day moving average price of $35.36 and a 200 day moving average price of $32.71. Gentex has a 52 week low of $25.85 and a 52 week high of $37.58. The firm has a market capitalization of $8.42 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 0.97 and a beta of 0.99.

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

Wall Street Analyst Weigh In

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

Get Our Latest Report on GNTX

Insider Transactions at Gentex

In related news, Director Richard O. Schaum sold 6,022 shares of the company’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 of the company’s stock, valued at $2,122,491.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Richard O. Schaum sold 6,022 shares of the company’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 of the company’s stock, valued at $2,122,491.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevin C. Nash sold 13,500 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total transaction of $446,040.00. Following the completion of the sale, the chief financial officer now directly owns 44,321 shares in the company, valued at approximately $1,464,365.84. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Gentex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GNTX. Diversified Trust Co acquired a new position in shares of Gentex during the third quarter worth approximately $211,000. Okabena Investment Services Inc. lifted its position in shares of Gentex by 4,271.6% during the fourth quarter. Okabena Investment Services Inc. now owns 6,470 shares of the auto parts company’s stock worth $211,000 after purchasing an additional 6,322 shares in the last quarter. Verition Fund Management LLC acquired a new position in shares of Gentex during the second quarter worth approximately $204,000. Advisor Partners II LLC acquired a new position in shares of Gentex during the first quarter worth approximately $202,000. Finally, CIBC Asset Management Inc acquired a new position in shares of Gentex during the first quarter worth approximately $201,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.

About Gentex

(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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