Invesco LLC Lowers Stock Position in Gentex Co. (NASDAQ:GNTX)

Invesco LLC trimmed its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 4.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,337 shares of the auto parts company’s stock after selling 1,285 shares during the quarter. Invesco LLC’s holdings in Gentex were worth $872,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Gentex by 227.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock worth $54,000 after purchasing an additional 1,269 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Gentex in the third quarter valued at $125,000. GAMMA Investing LLC grew its stake in shares of Gentex by 159.1% during the 4th quarter. GAMMA Investing LLC now owns 5,133 shares of the auto parts company’s stock worth $147,000 after acquiring an additional 3,152 shares during the period. KBC Group NV increased its holdings in Gentex by 13.3% in the 3rd quarter. KBC Group NV now owns 5,664 shares of the auto parts company’s stock worth $168,000 after acquiring an additional 667 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its stake in Gentex by 5.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,446 shares of the auto parts company’s stock valued at $221,000 after acquiring an additional 408 shares during the period. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Price Performance

GNTX stock traded up $0.06 during midday trading on Wednesday, reaching $27.98. The company had a trading volume of 73,778 shares, compared to its average volume of 1,462,552. The firm has a 50-day moving average price of $29.09 and a 200-day moving average price of $29.90. The company has a market capitalization of $6.36 billion, a P/E ratio of 14.96, a P/E/G ratio of 0.87 and a beta of 0.91. Gentex Co. has a 1 year low of $26.58 and a 1 year high of $37.58.

Gentex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, January 8th. This represents a $0.48 dividend on an annualized basis and a yield of 1.72%. Gentex’s payout ratio is 25.67%.

Wall Street Analyst Weigh In

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

Gentex 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.