146,774 Shares in Gentex Co. (NASDAQ:GNTX) Acquired by Invenomic Capital Management LP

Invenomic Capital Management LP purchased a new position in shares of Gentex Co. (NASDAQ:GNTX - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 146,774 shares of the auto parts company's stock, valued at approximately $4,358,000. Invenomic Capital Management LP owned 0.06% of Gentex at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Quest Partners LLC bought a new position in Gentex in the 2nd quarter worth about $31,000. Gladius Capital Management LP bought a new position in Gentex in the 2nd quarter worth approximately $34,000. EverSource Wealth Advisors LLC increased its position in Gentex by 173.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company's stock valued at $42,000 after acquiring an additional 850 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in 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 valued at $54,000 after acquiring an additional 1,269 shares in the last quarter. Finally, HHM Wealth Advisors LLC acquired a new position in Gentex during the 2nd quarter worth $67,000. Institutional investors own 86.76% of the company's stock.

Gentex Stock Performance

Shares of NASDAQ GNTX traded down $0.03 during trading on Wednesday, hitting $30.08. The company had a trading volume of 545,643 shares, compared to its average volume of 1,440,775. The company has a market cap of $6.84 billion, a P/E ratio of 16.10, a PEG ratio of 1.08 and a beta of 0.91. The business's 50-day moving average is $30.04 and its 200 day moving average is $31.40. Gentex Co. has a 52 week low of $28.30 and a 52 week high of $37.58.

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.60%. Gentex's dividend payout ratio (DPR) is 25.67%.

Analysts Set New Price Targets

A number of brokerages have recently commented on GNTX. UBS Group started coverage on Gentex in a report on Wednesday, September 4th. They set a "neutral" rating and a $34.00 price target on the stock. Robert W. Baird boosted their price target on shares of Gentex from $35.00 to $37.00 and gave the stock an "outperform" rating in a research report on Monday, October 28th. Guggenheim decreased their price objective on shares of Gentex from $35.00 to $34.00 and set a "buy" rating for the company in a report on Thursday, November 21st. Bank of America dropped their target price on Gentex from $39.00 to $35.00 and set a "neutral" rating on the stock in a report on Monday, October 14th. Finally, The Goldman Sachs Group decreased their price target on Gentex from $33.00 to $31.00 and set a "neutral" rating for the company in a research note on Tuesday, October 1st. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $35.13.

About Gentex

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.