Deutsche Bank AG Reduces Stock Holdings in Gentex Co. (NASDAQ:GNTX)

Deutsche Bank AG lessened its holdings in Gentex Co. (NASDAQ:GNTX - Free Report) by 72.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 634,719 shares of the auto parts company's stock after selling 1,639,357 shares during the period. Deutsche Bank AG owned about 0.28% of Gentex worth $18,235,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GNTX. Midwest Capital Advisors LLC purchased a new stake in Gentex during the fourth quarter valued at approximately $26,000. TD Private Client Wealth LLC raised its holdings in Gentex by 138.8% in the 4th quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company's stock worth $33,000 after purchasing an additional 662 shares during the period. Synergy Asset Management LLC bought a new position in shares of Gentex in the fourth quarter worth about $34,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Gentex by 32.5% during the fourth 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 in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Gentex during the 4th quarter valued at $96,000. Hedge funds and other institutional investors own 86.76% of the company's stock.

Gentex Trading Down 1.9%

NASDAQ:GNTX opened at $22.72 on Thursday. The company has a market cap of $5.11 billion, a price-to-earnings ratio of 12.91, a price-to-earnings-growth ratio of 0.84 and a beta of 0.85. Gentex Co. has a twelve month low of $20.28 and a twelve month high of $35.32. The stock has a fifty day simple moving average of $22.59 and a 200-day simple moving average of $26.21.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The auto parts company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The company had revenue of $576.77 million for the quarter, compared to the consensus estimate of $578.68 million. Gentex had a net margin of 17.49% and a return on equity of 16.74%. The firm's revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.47 EPS. As a group, equities research analysts predict that Gentex Co. will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, April 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.11%. Gentex's dividend payout ratio is presently 28.07%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. UBS Group dropped their price objective 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. Robert W. Baird reissued a "neutral" rating and issued a $25.00 target price (down from $31.00) on shares of Gentex in a report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price target on shares of Gentex from $34.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. The Goldman Sachs Group dropped their price objective on shares of Gentex from $28.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Finally, B. Riley restated a "buy" rating and set a $32.50 target price (down from $37.00) on shares of Gentex in a research report on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $28.31.

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.

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