DekaBank Deutsche Girozentrale Increases Holdings in Gentex Co. (NASDAQ:GNTX)

DekaBank Deutsche Girozentrale increased its stake in Gentex Co. (NASDAQ:GNTX) by 2.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 384,319 shares of the auto parts company’s stock after acquiring an additional 8,983 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.17% of Gentex worth $12,851,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GNTX. Victory Capital Management Inc. boosted its holdings in shares of Gentex by 18.0% in the 4th quarter. Victory Capital Management Inc. now owns 50,193 shares of the auto parts company’s stock worth $1,639,000 after purchasing an additional 7,649 shares during the period. National Bank of Canada FI increased its position in Gentex by 159.1% during the fourth quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock valued at $30,000 after acquiring an additional 571 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Gentex by 6.9% in the fourth quarter. Private Advisor Group LLC now owns 19,064 shares of the auto parts company’s stock valued at $623,000 after acquiring an additional 1,223 shares during the period. Financial Advocates Investment Management raised its stake in shares of Gentex by 22.2% in the fourth quarter. Financial Advocates Investment Management now owns 7,900 shares of the auto parts company’s stock valued at $258,000 after acquiring an additional 1,436 shares during the period. Finally, Brown Advisory Inc. lifted its holdings in shares of Gentex by 1.9% in the 4th quarter. Brown Advisory Inc. now owns 1,044,201 shares of the auto parts company’s stock worth $34,104,000 after acquiring an additional 19,851 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Stock Up 1.3 %

Shares of GNTX opened at $29.19 on Monday. The company has a 50 day moving average of $31.09 and a two-hundred day moving average of $33.56. Gentex Co. has a twelve month low of $27.86 and a twelve month high of $37.58. The company has a market cap of $6.75 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 0.96 and a beta of 0.92.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, July 26th. The auto parts company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.15). Gentex had a net margin of 17.87% and a return on equity of 17.78%. The business had revenue of $572.93 million for the quarter, compared to analysts’ expectations of $623.28 million. On average, sell-side analysts expect that Gentex Co. will post 1.96 EPS for the current year.

Gentex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.64%. Gentex’s payout ratio is 25.40%.

Wall Street Analyst Weigh In

GNTX has been the subject of several analyst reports. Robert W. Baird decreased their price objective on shares of Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Monday, July 29th. StockNews.com downgraded Gentex from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. B. Riley reduced their target price on Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. BNP Paribas cut shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target on the stock. in a report on Tuesday, July 30th. Finally, UBS Group began coverage on shares of Gentex in a report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price objective for the company. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Gentex has an average rating of “Hold” and an average target price of $36.86.

Insider Activity

In related news, major shareholder Corp Gentex bought 3,152,500 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average cost of $5.00 per share, for a total transaction of $15,762,500.00. Following the purchase, the insider now directly owns 6,463,808 shares of the company’s stock, valued at $32,319,040. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

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.