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

Gentex Co. (NASDAQ:GNTX) declared a quarterly dividend on Tuesday, November 26th,RTT News reports. Investors of record on Wednesday, January 8th will be given a dividend of 0.12 per share by the auto parts company on Wednesday, January 22nd. This represents a $0.48 annualized dividend and a yield of 1.55%.

Gentex has increased its dividend payment by an average of 0.4% per year over the last three years. Gentex has a payout ratio of 23.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Gentex to earn $2.10 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 22.9%.

Gentex Trading Down 0.6 %

GNTX traded down $0.20 on Wednesday, hitting $30.88. 1,371,438 shares of the stock traded hands, compared to its average volume of 1,373,682. The business has a fifty day moving average price of $29.99 and a two-hundred day moving average price of $31.55. The firm has a market capitalization of $7.02 billion, a PE ratio of 16.51, a P/E/G ratio of 1.09 and a beta of 0.91. Gentex has a 52 week low of $28.30 and a 52 week high of $37.58.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GNTX shares. Guggenheim lowered their price objective on Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. The Goldman Sachs Group decreased their price target on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. BNP Paribas cut Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target on the stock. in a report on Tuesday, July 30th. Bank of America cut their price objective on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Finally, Robert W. Baird lifted their price target on shares of Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $35.13.

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.