Gentex (NASDAQ:GNTX) Cut to “Neutral” at BNP Paribas

BNP Paribas downgraded shares of Gentex (NASDAQ:GNTX) from an outperform rating to a neutral rating in a research report released on Tuesday, Marketbeat Ratings reports. The brokerage currently has $34.00 price target on the auto parts company’s stock.

Several other equities research analysts also recently issued reports on GNTX. Robert W. Baird lowered their price objective on shares of Gentex from $40.00 to $38.00 and set an outperform rating for the company in a research report on Monday. JPMorgan Chase & Co. reduced their target price on shares of Gentex from $36.00 to $35.00 and set a neutral rating for the company in a report on Monday, July 22nd. StockNews.com cut shares of Gentex from a buy rating to a hold rating in a report on Thursday, July 4th. Guggenheim increased their target price on shares of Gentex from $40.00 to $41.00 and gave the stock a buy rating in a report on Wednesday, April 17th. Finally, B. Riley reduced their target price on shares of Gentex from $44.00 to $41.00 and set a buy rating for the company in a report on Monday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $37.33.

Gentex Stock Down 1.9 %

Shares of GNTX stock opened at $30.46 on Tuesday. The firm has a fifty day moving average of $33.71 and a 200-day moving average of $34.49. Gentex has a 12-month low of $27.86 and a 12-month high of $37.58. The company has a market capitalization of $7.04 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 0.93 and a beta of 0.93.

Gentex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 17th. Shareholders of record on Friday, July 5th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Friday, July 5th. Gentex’s dividend payout ratio is currently 25.40%.

Insider Buying and Selling at Gentex

In other Gentex news, Director Joseph B. Anderson, Jr. sold 4,716 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $34.46, for a total value of $162,513.36. Following the completion of the sale, the director now owns 3,764 shares in the company, valued at $129,707.44. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Institutional Trading of Gentex

A number of hedge funds have recently modified their holdings of GNTX. Neo Ivy Capital Management acquired a new stake in shares of Gentex during the 4th quarter worth about $29,000. National Bank of Canada FI lifted its stake in shares of Gentex by 159.1% during the 4th quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock worth $30,000 after buying an additional 571 shares during the last quarter. Gladius Capital Management LP acquired a new stake in shares of Gentex during the 2nd quarter worth about $34,000. GAMMA Investing LLC acquired a new stake in shares of Gentex during the 4th quarter worth about $46,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Gentex during the 2nd quarter worth about $73,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Company Profile

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.