Gentex (NASDAQ:GNTX) Hits New 12-Month Low – What’s Next?

Gentex Co. (NASDAQ:GNTX) hit a new 52-week low during trading on Thursday . The stock traded as low as $28.22 and last traded at $28.26, with a volume of 559455 shares. The stock had previously closed at $28.73.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GNTX shares. The Goldman Sachs Group dropped their price target on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. Guggenheim dropped their price objective on shares of Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Bank of America reduced their target price on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Finally, Robert W. Baird increased their price target on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Six 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 stock presently has an average rating of “Hold” and a consensus price target of $35.13.

Gentex Stock Performance

The stock’s fifty day simple moving average is $30.02 and its 200-day simple moving average is $30.68. The stock has a market cap of $6.38 billion, a P/E ratio of 14.99, a P/E/G ratio of 1.08 and a beta of 0.91.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $0.48 dividend on an annualized basis and a yield of 1.71%. Gentex’s dividend payout ratio (DPR) is presently 25.67%.

Institutional Investors Weigh In On Gentex

Institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Gentex by 179.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company’s stock valued at $59,404,000 after purchasing an additional 1,285,519 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Gentex by 14.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,989,248 shares of the auto parts company’s stock valued at $134,475,000 after purchasing an additional 489,689 shares during the last quarter. Bridgewater Associates LP increased its position in Gentex by 249.1% during the 3rd quarter. Bridgewater Associates LP now owns 617,657 shares of the auto parts company’s stock worth $18,338,000 after purchasing an additional 440,725 shares in the last quarter. Citigroup Inc. lifted its stake in Gentex by 327.8% in the 3rd quarter. Citigroup Inc. now owns 483,842 shares of the auto parts company’s stock valued at $14,365,000 after purchasing an additional 370,746 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Gentex by 53.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 905,080 shares of the auto parts company’s stock worth $26,872,000 after buying an additional 315,164 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.

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.