Invesco Ltd. Sells 81,350 Shares of Gentex Co. (NASDAQ:GNTX)

Invesco Ltd. reduced its stake in Gentex Co. (NASDAQ:GNTX - Free Report) by 10.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 684,394 shares of the auto parts company's stock after selling 81,350 shares during the period. Invesco Ltd. owned approximately 0.30% of Gentex worth $19,663,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in Gentex by 162.4% during the fourth quarter. JPMorgan Chase & Co. now owns 5,249,230 shares of the auto parts company's stock worth $150,810,000 after purchasing an additional 3,248,434 shares during the period. Norges Bank bought a new stake in shares of Gentex during the 4th quarter worth approximately $51,959,000. Wellington Management Group LLP lifted its holdings in shares of Gentex by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 18,023,056 shares of the auto parts company's stock worth $517,802,000 after acquiring an additional 1,038,912 shares during the period. Raymond James Financial Inc. bought a new position in Gentex in the fourth quarter valued at approximately $24,479,000. Finally, American Century Companies Inc. raised its position in Gentex by 66.9% during the fourth quarter. American Century Companies Inc. now owns 1,657,397 shares of the auto parts company's stock valued at $47,617,000 after purchasing an additional 664,389 shares in the last quarter. Institutional investors own 86.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GNTX. Robert W. Baird reiterated a "neutral" rating and issued a $25.00 price target (down from $31.00) on shares of Gentex in a research note on Tuesday, April 15th. Baird R W lowered shares of Gentex from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. UBS Group reduced their target price on shares of Gentex from $29.00 to $21.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. The Goldman Sachs Group cut their price target on shares of Gentex from $28.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. lowered their target price on Gentex from $34.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. Eight investment 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, the company currently has an average rating of "Hold" and an average price target of $28.31.

Gentex Trading Up 1.0 %

GNTX stock traded up $0.21 during mid-day trading on Thursday, reaching $21.88. The company's stock had a trading volume of 350,485 shares, compared to its average volume of 1,699,681. The company has a market cap of $4.95 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 0.84 and a beta of 0.84. Gentex Co. has a 12 month low of $20.28 and a 12 month high of $35.33. The business's 50 day moving average price is $23.35 and its 200 day moving average price is $26.98.

Gentex (NASDAQ:GNTX - Get Free Report) last released its earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.10). Gentex had a net margin of 17.49% and a return on equity of 16.74%. During the same quarter last year, the company posted $0.50 EPS. As a group, equities analysts expect that Gentex Co. will post 2.04 EPS for the current fiscal year.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Wednesday, April 9th. Gentex's dividend payout ratio (DPR) is currently 27.27%.

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.