Invesco LLC Cuts Stock Position in Gentex Corporation (NASDAQ:GNTX)

Invesco LLC cut its position in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 65.4% during the 1st quarter, according to the company in its most recent Form 13F filing 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.

A number of other institutional investors have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. boosted its holdings in shares of Gentex by 6.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 7,445 shares of the auto parts company's stock worth $214,000 after buying an additional 457 shares during the last quarter. ProShare Advisors LLC raised its position in Gentex by 6.0% in the fourth quarter. ProShare Advisors LLC now owns 10,641 shares of the auto parts company's stock worth $306,000 after acquiring an additional 605 shares during the period. Scotia Capital Inc. boosted its stake in Gentex by 0.5% in the fourth quarter. Scotia Capital Inc. now owns 126,325 shares of the auto parts company's stock valued at $3,629,000 after acquiring an additional 608 shares during the last quarter. Smith Moore & CO. grew its position in shares of Gentex by 3.5% during the 4th quarter. Smith Moore & CO. now owns 18,666 shares of the auto parts company's stock valued at $536,000 after acquiring an additional 632 shares during the period. Finally, Treasurer of the State of North Carolina increased its stake in shares of Gentex by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 101,711 shares of the auto parts company's stock worth $2,922,000 after purchasing an additional 640 shares during the last quarter. 86.76% of the stock is owned by institutional investors.

Insider Transactions at Gentex

In other Gentex news, Director Joseph B. Anderson, Jr. sold 3,764 shares of Gentex stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $22.87, for a total transaction of $86,082.68. Following the completion of the sale, the director now directly owns 5,939 shares in the company, valued at $135,824.93. The trade was a 38.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.45% of the stock is owned by insiders.

Gentex Trading Up 1.1%

Shares of Gentex stock traded up $0.24 on Thursday, reaching $21.86. The stock had a trading volume of 1,404,928 shares, compared to its average volume of 1,845,755. The business's 50 day moving average is $21.86 and its two-hundred day moving average is $24.45. Gentex Corporation has a 1 year low of $20.28 and a 1 year high of $35.32. The company has a market cap of $4.91 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 1.08 and a beta of 0.81.

Gentex (NASDAQ:GNTX - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The auto parts company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. Gentex had a net margin of 17.01% and a return on equity of 16.11%. The firm had revenue of $576.77 million during the quarter, compared to the consensus estimate of $578.68 million. During the same period last year, the firm earned $0.47 EPS. The business's quarterly revenue was down 2.3% compared to the same quarter last year. On average, equities analysts anticipate that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.20%. Gentex's dividend payout ratio (DPR) is presently 28.07%.

Wall Street Analysts Forecast Growth

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