Invesco LLC Has $245,000 Holdings in Gentex Corporation (NASDAQ:GNTX)

Invesco LLC decreased its holdings in Gentex Corporation (NASDAQ:GNTX - Free Report) by 65.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,494 shares of the auto parts company's stock after selling 19,843 shares during the quarter. Invesco LLC's holdings in Gentex were worth $245,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC grew its position in Gentex by 138.8% in the fourth quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company's stock worth $33,000 after buying an additional 662 shares during the last quarter. Harbor Investment Advisory LLC grew its position in Gentex by 208.2% in the first quarter. Harbor Investment Advisory LLC now owns 1,618 shares of the auto parts company's stock worth $38,000 after buying an additional 1,093 shares during the last quarter. UMB Bank n.a. grew its position in Gentex by 103.3% in the first quarter. UMB Bank n.a. now owns 2,124 shares of the auto parts company's stock worth $49,000 after buying an additional 1,079 shares during the last quarter. NBC Securities Inc. grew its position in Gentex by 268,600.0% during the 1st quarter. NBC Securities Inc. now owns 2,687 shares of the auto parts company's stock worth $62,000 after purchasing an additional 2,686 shares in the last quarter. Finally, LRI Investments LLC grew its position in Gentex by 33.2% during the 4th quarter. LRI Investments LLC now owns 2,750 shares of the auto parts company's stock worth $79,000 after purchasing an additional 686 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company's stock.

Gentex Stock Up 0.6%

Shares of NASDAQ:GNTX traded up $0.13 during trading on Friday, reaching $21.99. 2,899,590 shares of the company traded hands, compared to its average volume of 1,850,106. The firm has a fifty day simple moving average of $21.88 and a 200 day simple moving average of $24.28. The firm has a market cap of $4.94 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 1.09 and a beta of 0.81. Gentex Corporation has a 1-year low of $20.28 and a 1-year high of $35.32.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its earnings results on Friday, April 25th. The auto parts company reported $0.43 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.43. The company had revenue of $576.77 million during the quarter, compared to analyst estimates of $578.68 million. Gentex had a net margin of 17.01% and a return on equity of 16.11%. The company's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the business posted $0.47 EPS. As a group, research analysts anticipate that Gentex Corporation will post 2.04 EPS for the current year.

Gentex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Wednesday, July 9th. Gentex's dividend payout ratio (DPR) is currently 28.07%.

Insider Buying and Selling at Gentex

In related news, Director Joseph B. Anderson, Jr. sold 3,764 shares of Gentex stock in a transaction on Friday, May 16th. The shares were sold at an average price of $22.87, for a total value of $86,082.68. Following the completion of the sale, the director now owns 5,939 shares of the company's stock, valued at approximately $135,824.93. The trade was a 38.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.45% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on GNTX. The Goldman Sachs Group lowered their price objective on shares of Gentex from $28.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Robert W. Baird reiterated a "neutral" rating and set a $25.00 price objective (down from $31.00) on shares of Gentex in a research report on Tuesday, April 15th. Baird R W cut shares of Gentex from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Guggenheim lowered their price objective on shares of Gentex from $30.00 to $24.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, UBS Group lowered their price objective on shares of Gentex from $29.00 to $21.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Gentex presently has an average rating of "Hold" and an average price target of $28.31.

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.