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

Gentex Co. (NASDAQ:GNTXGet Rating) announced a quarterly dividend on Friday, May 27th, Zacks reports. Shareholders of record on Friday, July 8th will be paid a dividend of 0.12 per share by the auto parts company on Wednesday, July 20th. This represents a $0.48 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Thursday, July 7th.

Gentex has increased its dividend payment by an average of 2.9% per year over the last three years. Gentex has a payout ratio of 22.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Gentex to earn $2.16 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 22.2%.

Shares of GNTX stock opened at $31.30 on Friday. Gentex has a 12-month low of $27.06 and a 12-month high of $37.90. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of 22.36, a price-to-earnings-growth ratio of 1.59 and a beta of 0.89. The firm has a fifty day moving average of $29.06 and a 200-day moving average of $31.64.

Gentex (NASDAQ:GNTXGet Rating) last announced its quarterly earnings results on Friday, April 22nd. The auto parts company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05. Gentex had a net margin of 19.52% and a return on equity of 17.46%. The company had revenue of $468.50 million during the quarter, compared to analyst estimates of $432.40 million. During the same quarter in the previous year, the business earned $0.46 EPS. The firm’s revenue was down 3.1% on a year-over-year basis. Sell-side analysts predict that Gentex will post 1.64 earnings per share for the current year.

In other news, CTO Neil Boehm sold 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 31st. The shares were sold at an average price of $29.24, for a total transaction of $131,580.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gary F. Goode sold 2,845 shares of the firm’s stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $30.17, for a total transaction of $85,833.65. Following the transaction, the director now directly owns 27,861 shares in the company, valued at $840,566.37. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,045 shares of company stock worth $384,082. Insiders own 0.16% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. increased its holdings in shares of Gentex by 20.8% during the first quarter. Advisors Asset Management Inc. now owns 31,096 shares of the auto parts company’s stock worth $907,000 after purchasing an additional 5,350 shares during the period. West Michigan Advisors LLC boosted its position in shares of Gentex by 23.0% during the 1st quarter. West Michigan Advisors LLC now owns 29,233 shares of the auto parts company’s stock worth $853,000 after acquiring an additional 5,465 shares in the last quarter. Ethic Inc. boosted its position in shares of Gentex by 8.9% during the 1st quarter. Ethic Inc. now owns 25,269 shares of the auto parts company’s stock worth $737,000 after acquiring an additional 2,073 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Gentex by 55.5% during the 1st quarter. Captrust Financial Advisors now owns 18,630 shares of the auto parts company’s stock worth $543,000 after acquiring an additional 6,651 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its position in shares of Gentex by 11.0% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 15,189 shares of the auto parts company’s stock worth $529,000 after acquiring an additional 1,511 shares in the last quarter. 86.24% of the stock is currently owned by institutional investors.

GNTX has been the subject of several research analyst reports. Robert W. Baird boosted their price target on shares of Gentex from $33.00 to $34.00 in a report on Monday, April 25th. BNP Paribas started coverage on shares of Gentex in a research note on Monday, April 11th. They issued an “outperform” rating for the company. StockNews.com started coverage on shares of Gentex in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Exane BNP Paribas started coverage on shares of Gentex in a research note on Monday, April 11th. They issued an “outperform” rating for the company. Finally, Zacks Investment Research raised shares of Gentex from a “sell” rating to a “hold” rating and set a $31.00 target price for the company in a research note on Wednesday, April 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Gentex currently has a consensus rating of “Buy” and an average price target of $33.38.

About Gentex (Get Rating)

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, 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.

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Dividend History for Gentex (NASDAQ:GNTX)

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