Gentex (NASDAQ:GNTX) Sets New 1-Year Low – Time to Sell?

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

Analyst Upgrades and Downgrades

GNTX has been the topic of a number of recent research reports. Robert W. Baird upped their target price on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Bank of America decreased their target price on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. UBS Group assumed coverage on Gentex in a report on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price target for the company. Guggenheim decreased their price objective on Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Finally, The Goldman Sachs Group dropped their target price on Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $35.13.

Gentex Price Performance

The stock has a market cap of $6.41 billion, a PE ratio of 15.08, a P/E/G ratio of 1.09 and a beta of 0.91. The stock has a 50-day simple moving average of $30.11 and a 200-day simple moving average of $30.74.

Gentex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be given 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 1.70%. Gentex’s dividend payout ratio (DPR) is 25.67%.

Institutional Trading of Gentex

Several large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in shares of Gentex by 5.6% during the third quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company’s stock worth $159,406,000 after acquiring an additional 285,802 shares during the last quarter. Barclays PLC increased its stake in shares of Gentex by 54.4% in the third quarter. Barclays PLC now owns 107,930 shares of the auto parts company’s stock worth $3,205,000 after buying an additional 38,027 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its holdings in Gentex by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 4,259,831 shares of the auto parts company’s stock valued at $143,599,000 after acquiring an additional 43,457 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Gentex by 10.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 392,445 shares of the auto parts company’s stock valued at $11,651,000 after purchasing an additional 36,134 shares in the last quarter. Finally, Ensign Peak Advisors Inc increased its holdings in Gentex by 56.4% in the second quarter. Ensign Peak Advisors Inc now owns 109,451 shares of the auto parts company’s stock valued at $3,690,000 after buying an additional 39,470 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

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.