Invesco LLC Sells 1,285 Shares of Gentex Co. (NASDAQ:GNTX)

Invesco LLC decreased its stake in Gentex Co. (NASDAQ:GNTX) by 4.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 30,337 shares of the auto parts company’s stock after selling 1,285 shares during the period. Invesco LLC’s holdings in Gentex were worth $872,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Gentex by 227.8% during the third 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 in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Gentex in the 3rd quarter worth $125,000. GAMMA Investing LLC boosted its holdings 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 valued at $147,000 after purchasing an additional 3,152 shares during the last quarter. KBC Group NV grew its position in shares of Gentex by 13.3% during the third quarter. KBC Group NV now owns 5,664 shares of the auto parts company’s stock valued at $168,000 after purchasing an additional 667 shares in the last quarter. Finally, Atomi Financial Group Inc. bought a new stake in shares of Gentex in the fourth quarter worth about $220,000. 86.76% of the stock is currently owned by institutional investors.

Gentex Price Performance

GNTX stock traded up $0.06 during mid-day 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 of $29.09 and a 200 day moving average of $29.90. Gentex Co. has a 12 month low of $26.58 and a 12 month high of $37.58. The company has a market capitalization of $6.36 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 0.87 and a beta of 0.91.

Gentex Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. The Goldman Sachs Group decreased their price objective on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Bank of America lowered their price objective on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Robert W. Baird boosted their target price on shares of Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Finally, Guggenheim dropped their price target on Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Gentex has a consensus rating of “Hold” and a consensus 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.