Deutsche Bank AG Makes New $1.28 Million Investment in Gentex Corporation $GNTX

Key Points

• Deutsche Bank purchased 50,524 shares of Gentex worth approximately $1.28 million in the second quarter. Institutional investors collectively own 86.76% of the company.
• Gentex reported quarterly EPS of $0.58, beating estimates of $0.50, while revenue of $651.3 million fell short of expectations and declined 1% year over year.
• Shares opened at $22.67, down 1.7%, and analysts maintain a consensus “Hold” rating with an average price target of $26.80.

Deutsche Bank AG bought a new stake in Gentex Corporation (NASDAQ:GNTX - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 50,524 shares of the auto parts company's stock, valued at approximately $1,277,000.

Several other hedge funds have also made changes to their positions in the company. Clearstead Advisors LLC raised its position in Gentex by 21.4% in the fourth quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company's stock valued at $58,000 after purchasing an additional 437 shares during the period. Gagnon Securities LLC grew its holdings in shares of Gentex by 0.8% during the 4th quarter. Gagnon Securities LLC now owns 55,672 shares of the auto parts company's stock worth $1,295,000 after purchasing an additional 458 shares during the period. Crumly & Associates Inc. increased its position in shares of Gentex by 3.7% during the 2nd quarter. Crumly & Associates Inc. now owns 13,291 shares of the auto parts company's stock worth $336,000 after purchasing an additional 478 shares during the last quarter. First Citizens Bank & Trust Co. increased its position in shares of Gentex by 1.6% during the 1st quarter. First Citizens Bank & Trust Co. now owns 30,294 shares of the auto parts company's stock worth $662,000 after purchasing an additional 487 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in Gentex by 0.3% in the 1st quarter. Sei Investments Co. now owns 196,776 shares of the auto parts company's stock valued at $4,300,000 after buying an additional 521 shares during the period. Hedge funds and other institutional investors own 86.76% of the company's stock.

Gentex Stock Down 1.7%

NASDAQ:GNTX opened at $22.67 on Friday. Gentex Corporation has a 52 week low of $20.48 and a 52 week high of $29.38. The company has a fifty day simple moving average of $24.04 and a two-hundred day simple moving average of $23.47. The company has a market cap of $4.83 billion, a price-to-earnings ratio of 11.99 and a beta of 0.79.

Gentex (NASDAQ:GNTX - Get Free Report) last announced its quarterly earnings data on Friday, July 24th. The auto parts company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.08. The business had revenue of $651.30 million for the quarter, compared to analysts' expectations of $669.65 million. Gentex had a return on equity of 16.78% and a net margin of 15.50%.The company's revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the firm earned $0.43 earnings per share. On average, analysts expect that Gentex Corporation will post 2.04 EPS for the current year.

Analysts Set New Price Targets

GNTX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Gentex from $28.00 to $27.00 and set a "neutral" rating on the stock in a research report on Monday, August 10th. Freedom Capital cut shares of Gentex from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 29th. UBS Group reissued a "neutral" rating and issued a $25.00 price target (down from $26.00) on shares of Gentex in a research note on Thursday, July 9th. Weiss Ratings upgraded shares of Gentex from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, June 23rd. Finally, Wall Street Zen cut shares of Gentex from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. One investment analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $26.80.

Gentex Company Profile

Gentex Corporation NASDAQ: GNTX is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company's primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world's leading original equipment manufacturers (OEMs).

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