Gentex Co. (GNTX) to Issue Quarterly Dividend of $0.12 on January 22nd

Gentex Co. (NASDAQ:GNTX) declared a quarterly dividend on Tuesday, November 26th,RTT News reports. Shareholders of record on Wednesday, January 8th will be paid a dividend of 0.12 per share by the auto parts company on Wednesday, January 22nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Wednesday, January 8th.

Gentex has raised its dividend by an average of 0.4% annually over the last three years. Gentex has a payout ratio of 23.1% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of GNTX opened at $30.57 on Thursday. The stock’s 50-day moving average is $30.02 and its two-hundred day moving average is $31.55. The stock has a market cap of $6.95 billion, a PE ratio of 16.35, a P/E/G ratio of 1.09 and a beta of 0.91. Gentex has a 12 month low of $28.30 and a 12 month high of $37.58.

Wall Street Analyst Weigh In

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

About Gentex

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.