Invesco LLC Buys 617 Shares of Gentex Co. (NASDAQ:GNTX)

Invesco LLC increased its position in Gentex Co. (NASDAQ:GNTX) by 2.0% during the 2nd quarter, Holdings Channel reports. The firm owned 30,943 shares of the auto parts company’s stock after acquiring an additional 617 shares during the quarter. Invesco LLC’s holdings in Gentex were worth $1,043,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its position in Gentex by 129.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 111,827 shares of the auto parts company’s stock valued at $3,652,000 after acquiring an additional 63,152 shares during the last quarter. TD Asset Management Inc increased its position in Gentex by 58.1% during the 4th quarter. TD Asset Management Inc now owns 3,313,757 shares of the auto parts company’s stock valued at $108,227,000 after buying an additional 1,217,278 shares in the last quarter. Thematics Asset Management raised its stake in Gentex by 51.2% in the fourth quarter. Thematics Asset Management now owns 523,207 shares of the auto parts company’s stock valued at $17,088,000 after buying an additional 177,207 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Gentex by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 22,280,716 shares of the auto parts company’s stock worth $727,688,000 after acquiring an additional 163,373 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Gentex by 91.0% during the first quarter. Cetera Investment Advisers now owns 127,876 shares of the auto parts company’s stock valued at $4,619,000 after acquiring an additional 60,934 shares in the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Gentex Stock Performance

GNTX opened at $29.83 on Tuesday. The company has a fifty day moving average of $31.46 and a two-hundred day moving average of $33.76. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 0.99 and a beta of 0.92. Gentex Co. has a fifty-two week low of $27.86 and a fifty-two week high of $37.58.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, July 26th. The auto parts company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.15). Gentex had a return on equity of 17.78% and a net margin of 17.87%. The business had revenue of $572.93 million during the quarter, compared to analyst estimates of $623.28 million. On average, equities research analysts forecast that Gentex Co. will post 1.96 earnings per share for the current year.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.61%. Gentex’s payout ratio is currently 25.40%.

Insider Activity

In other Gentex news, major shareholder Corp Gentex bought 3,152,500 shares of the stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $5.00 per share, with a total value of $15,762,500.00. Following the purchase, the insider now directly owns 6,463,808 shares in the company, valued at approximately $32,319,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Robert W. Baird cut their price target on shares of Gentex from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. StockNews.com lowered Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. JPMorgan Chase & Co. dropped their target price on Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. BNP Paribas lowered shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target for the company. in a research report on Tuesday, July 30th. Finally, UBS Group initiated coverage on shares of Gentex in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Gentex has an average rating of “Hold” and an average target price of $36.86.

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.