Invenomic Capital Management LP Invests $4.36 Million in Gentex Co. (NASDAQ:GNTX)

Invenomic Capital Management LP purchased a new stake in Gentex Co. (NASDAQ:GNTX) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 146,774 shares of the auto parts company’s stock, valued at approximately $4,358,000. Invenomic Capital Management LP owned approximately 0.06% of Gentex as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Cetera Investment Advisers boosted its stake in Gentex by 91.0% in the first quarter. Cetera Investment Advisers now owns 127,876 shares of the auto parts company’s stock valued at $4,619,000 after buying an additional 60,934 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in shares of Gentex by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 4,259,831 shares of the auto parts company’s stock worth $143,599,000 after acquiring an additional 43,457 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Gentex by 10.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 392,445 shares of the auto parts company’s stock valued at $11,651,000 after purchasing an additional 36,134 shares in the last quarter. Ensign Peak Advisors Inc grew its holdings in shares of Gentex by 56.4% during the 2nd quarter. Ensign Peak Advisors Inc now owns 109,451 shares of the auto parts company’s stock valued at $3,690,000 after purchasing an additional 39,470 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in Gentex during the 2nd quarter worth approximately $1,037,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Gentex Price Performance

Gentex stock opened at $30.11 on Wednesday. The stock’s 50 day moving average is $30.04 and its 200 day moving average is $31.40. Gentex Co. has a one year low of $28.30 and a one year high of $37.58. The firm has a market cap of $6.85 billion, a P/E ratio of 16.10, a P/E/G ratio of 1.08 and a beta of 0.91.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Wednesday, January 8th. Gentex’s dividend payout ratio is currently 25.67%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GNTX. Bank of America cut their target price on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. The Goldman Sachs Group cut their price objective on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. UBS Group started coverage on Gentex in a report on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 target price for the company. Guggenheim reduced their price target on Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Finally, Robert W. Baird raised their price objective on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, October 28th. 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.

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.