Deutsche Bank AG Sells 611,387 Shares of Gentex Corporation $GNTX

Deutsche Bank AG decreased its position in Gentex Corporation (NASDAQ:GNTX) by 96.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,332 shares of the auto parts company’s stock after selling 611,387 shares during the quarter. Deutsche Bank AG’s holdings in Gentex were worth $544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Larson Financial Group LLC increased its stake in Gentex by 1,471.0% in the 1st quarter. Larson Financial Group LLC now owns 1,084 shares of the auto parts company’s stock worth $25,000 after acquiring an additional 1,015 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Gentex by 85.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,222 shares of the auto parts company’s stock worth $28,000 after acquiring an additional 563 shares during the last quarter. Harbor Investment Advisory LLC increased its stake in Gentex by 208.2% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,618 shares of the auto parts company’s stock worth $38,000 after acquiring an additional 1,093 shares during the last quarter. UMB Bank n.a. increased its stake in Gentex by 103.3% in the 1st quarter. UMB Bank n.a. now owns 2,124 shares of the auto parts company’s stock worth $49,000 after acquiring an additional 1,079 shares during the last quarter. Finally, NBC Securities Inc. increased its stake in Gentex by 268,600.0% in the 1st quarter. NBC Securities Inc. now owns 2,687 shares of the auto parts company’s stock worth $62,000 after acquiring an additional 2,686 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.

Gentex Stock Up 0.7%

GNTX opened at $28.28 on Wednesday. The business has a fifty day moving average of $24.75 and a 200 day moving average of $23.50. Gentex Corporation has a 52-week low of $20.28 and a 52-week high of $31.72. The stock has a market cap of $6.21 billion, a P/E ratio of 15.98 and a beta of 0.82.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, July 25th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.08. Gentex had a return on equity of 16.86% and a net margin of 16.82%.The company had revenue of $657.86 million during the quarter, compared to analysts’ expectations of $591.94 million. During the same quarter in the previous year, the business earned $0.37 EPS. Gentex’s revenue was up 14.8% compared to the same quarter last year. Gentex has set its FY 2025 guidance at EPS. Equities analysts anticipate that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex declared that its board has initiated a share buyback plan on Wednesday, July 16th that allows the company to buyback 40,000,000 shares. This buyback authorization allows the auto parts company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, October 8th. This represents a $0.48 dividend on an annualized basis and a yield of 1.7%. Gentex’s payout ratio is presently 27.12%.

Analysts Set New Price Targets

A number of research firms have issued reports on GNTX. Wall Street Zen raised Gentex from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. The Goldman Sachs Group reissued a “neutral” rating on shares of Gentex in a research report on Friday, July 11th. Robert W. Baird boosted their target price on Gentex from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. B. Riley boosted their target price on Gentex from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Finally, UBS Group boosted their target price on Gentex from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $28.63.

Gentex Company 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.