Gentex (NASDAQ:GNTX) Sets New 52-Week Low – Should You Sell?

Gentex Co. (NASDAQ:GNTX) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $27.64 and last traded at $27.70, with a volume of 1639275 shares changing hands. The stock had previously closed at $28.00.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Guggenheim lowered their price target on Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. The Goldman Sachs Group lowered their target price on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Robert W. Baird upped their price target on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Finally, Bank of America dropped their target price 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. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $35.13.

Gentex Stock Down 1.1 %

The business’s 50 day simple moving average is $29.88 and its 200 day simple moving average is $30.55. The company has a market capitalization of $6.30 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.08 and a beta of 0.91.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Wednesday, January 8th. Gentex’s dividend payout ratio is 25.67%.

Hedge Funds Weigh In On Gentex

Several institutional investors and hedge funds have recently added to or reduced their stakes in GNTX. JPMorgan Chase & Co. grew its holdings in shares of Gentex by 179.7% during the third quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company’s stock valued at $59,404,000 after buying an additional 1,285,519 shares in the last quarter. Geode Capital Management LLC grew its stake in Gentex by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company’s stock valued at $159,406,000 after acquiring an additional 285,802 shares in the last quarter. Barclays PLC increased its holdings in shares of Gentex by 54.4% in the 3rd quarter. Barclays PLC now owns 107,930 shares of the auto parts company’s stock valued at $3,205,000 after purchasing an additional 38,027 shares during the period. Disciplined Growth Investors Inc. MN lifted its position in shares of 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 worth $143,599,000 after purchasing an additional 43,457 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of Gentex by 10.1% during the third quarter. Thrivent Financial for Lutherans now owns 392,445 shares of the auto parts company’s stock worth $11,651,000 after purchasing an additional 36,134 shares during the period. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

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.