Gentex Corporation $GNTX Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG has significantly reduced its holdings in Gentex Corporation by 96.3%, selling 611,387 shares during the first quarter, now owning only 23,332 shares valued at approximately $544,000.
• Gentex reported earnings of $0.47 per share for the quarter, surpassing analyst expectations of $0.39, with revenues increasing by 14.8% year-over-year.
• The company has initiated a share buyback program allowing for the repurchase of up to 40 million shares, indicating management believes the stock is currently undervalued.

Deutsche Bank AG lessened its stake in Gentex Corporation (NASDAQ:GNTX - Free Report) by 96.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,332 shares of the auto parts company's stock after selling 611,387 shares during the period. 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 also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in Gentex by 4.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,622,237 shares of the auto parts company's stock valued at $37,798,000 after acquiring an additional 62,137 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Gentex by 0.4% in the first quarter. Principal Financial Group Inc. now owns 523,489 shares of the auto parts company's stock valued at $12,197,000 after acquiring an additional 1,923 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in Gentex by 5.9% in the first quarter. Asset Management One Co. Ltd. now owns 219,454 shares of the auto parts company's stock valued at $5,113,000 after acquiring an additional 12,168 shares in the last quarter. Praxis Investment Management Inc. acquired a new position in Gentex in the first quarter valued at $359,000. Finally, Speece Thorson Capital Group Inc. boosted its stake in Gentex by 18.3% in the first quarter. Speece Thorson Capital Group Inc. now owns 682,684 shares of the auto parts company's stock valued at $15,907,000 after acquiring an additional 105,446 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. B. Riley upped their target price on shares of Gentex from $28.00 to $32.00 and gave the company a "buy" rating in a report on Monday, July 28th. Industrial Alliance Securities set a $25.00 target price on shares of Gentex in a report on Friday, July 11th. Robert W. Baird upped their target price on shares of Gentex from $26.00 to $30.00 and gave the company a "neutral" rating in a report on Monday, July 28th. UBS Group upped their target price on shares of Gentex from $23.00 to $28.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Finally, Zacks Research raised shares of Gentex from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 20th. One investment 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 MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $28.63.

Gentex Trading Down 0.5%

Shares of GNTX stock traded down $0.14 during trading hours on Friday, hitting $28.01. The company's stock had a trading volume of 1,973,745 shares, compared to its average volume of 1,973,811. The business has a fifty day moving average of $25.16 and a 200-day moving average of $23.58. The stock has a market cap of $6.15 billion, a price-to-earnings ratio of 15.82 and a beta of 0.82. Gentex Corporation has a twelve month low of $20.28 and a twelve month high of $31.72.

Gentex (NASDAQ:GNTX - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The auto parts company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.39 by $0.08. The business had revenue of $657.86 million for the quarter, compared to analyst estimates of $591.94 million. Gentex had a net margin of 16.82% and a return on equity of 16.86%. The company's quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 earnings per share. Gentex has set its FY 2025 guidance at EPS. On average, equities analysts expect that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex announced that its Board of Directors has initiated a share buyback program on Wednesday, July 16th that permits the company to buyback 40,000,000 outstanding shares. This buyback authorization permits the auto parts company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th will be given 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 dividend payout ratio (DPR) is 27.12%.

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.