Invenomic Capital Management LP Cuts Stock Position in Gentex Co. (NASDAQ:GNTX)

Invenomic Capital Management LP trimmed its stake in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 13.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 126,842 shares of the auto parts company's stock after selling 19,932 shares during the quarter. Invenomic Capital Management LP owned about 0.06% of Gentex worth $3,644,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. 180 Wealth Advisors LLC raised its holdings in shares of Gentex by 0.7% in the fourth quarter. 180 Wealth Advisors LLC now owns 65,805 shares of the auto parts company's stock worth $1,891,000 after acquiring an additional 437 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in Gentex by 6.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 7,445 shares of the auto parts company's stock worth $214,000 after purchasing an additional 457 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in Gentex by 32.5% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,419 shares of the auto parts company's stock valued at $70,000 after purchasing an additional 593 shares during the last quarter. Scotia Capital Inc. raised its stake in Gentex by 0.5% in the 4th quarter. Scotia Capital Inc. now owns 126,325 shares of the auto parts company's stock valued at $3,629,000 after purchasing an additional 608 shares during the last quarter. Finally, Smith Moore & CO. lifted its holdings in Gentex by 3.5% in the 4th quarter. Smith Moore & CO. now owns 18,666 shares of the auto parts company's stock valued at $536,000 after purchasing an additional 632 shares in the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GNTX has been the subject of a number of recent research reports. UBS Group lowered their price target on shares of Gentex from $29.00 to $21.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Baird R W lowered shares of Gentex from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. cut their price objective on shares of Gentex from $34.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. The Goldman Sachs Group cut their price objective on shares of Gentex from $28.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Finally, Guggenheim cut their price objective on shares of Gentex from $30.00 to $24.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $28.31.

Gentex Stock Down 0.2%

Shares of GNTX stock traded down $0.05 during trading hours on Thursday, hitting $22.67. 3,860,268 shares of the company were exchanged, compared to its average volume of 1,766,644. The firm has a market cap of $5.10 billion, a PE ratio of 12.88, a PEG ratio of 0.84 and a beta of 0.85. Gentex Co. has a 1 year low of $20.28 and a 1 year high of $35.32. The firm has a fifty day moving average of $22.59 and a 200 day moving average of $26.21.

Gentex (NASDAQ:GNTX - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The auto parts company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $576.77 million for the quarter, compared to analyst estimates of $578.68 million. Gentex had a net margin of 17.49% and a return on equity of 16.74%. The company's revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.47 EPS. Analysts expect that Gentex Co. will post 2.04 earnings per share for the current year.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, April 9th. This represents a $0.48 annualized dividend and a dividend yield of 2.12%. Gentex's payout ratio is currently 28.07%.

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.