Gentex (NASDAQ:GNTX) Price Target Cut to $34.00 by Analysts at Guggenheim

Gentex (NASDAQ:GNTX) had its price target trimmed by Guggenheim from $35.00 to $34.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the auto parts company’s stock.

GNTX has been the topic of several other research reports. Robert W. Baird increased 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. The Goldman Sachs Group reduced their price target on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st. BNP Paribas cut shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research report on Tuesday, July 30th. Bank of America reduced their price target 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. Finally, B. Riley reduced their target price on shares of Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Monday, July 29th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $35.13.

Gentex Stock Performance

Shares of GNTX opened at $29.88 on Thursday. The stock has a market capitalization of $6.80 billion, a PE ratio of 15.98, a P/E/G ratio of 0.94 and a beta of 0.91. Gentex has a 1 year low of $28.30 and a 1 year high of $37.58. The company’s 50-day simple moving average is $29.89 and its 200-day simple moving average is $31.68.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.48 annualized dividend and a yield of 1.61%. Gentex’s dividend payout ratio is currently 25.67%.

Hedge Funds Weigh In On Gentex

Several hedge funds have recently added to or reduced their stakes in the stock. Phoenix Wealth Advisors increased its stake in Gentex by 3.1% in the second quarter. Phoenix Wealth Advisors now owns 10,196 shares of the auto parts company’s stock valued at $344,000 after purchasing an additional 306 shares during the last quarter. Lindenwold Advisors INC grew its position in shares of Gentex by 2.8% during the third quarter. Lindenwold Advisors INC now owns 12,539 shares of the auto parts company’s stock worth $372,000 after acquiring an additional 347 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Gentex by 0.9% during the first quarter. Toronto Dominion Bank now owns 42,346 shares of the auto parts company’s stock worth $1,530,000 after acquiring an additional 370 shares during the last quarter. Coldstream Capital Management Inc. grew its position in shares of Gentex by 5.8% during the third quarter. Coldstream Capital Management Inc. now owns 7,446 shares of the auto parts company’s stock worth $221,000 after acquiring an additional 408 shares during the last quarter. Finally, United Services Automobile Association grew its position in shares of Gentex by 2.5% during the second quarter. United Services Automobile Association now owns 17,447 shares of the auto parts company’s stock worth $588,000 after acquiring an additional 427 shares during the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

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.