State of New Jersey Common Pension Fund D reduced its stake in Gentherm Incorporated (NASDAQ:THRM – Get Rating) by 13.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 28,357 shares of the auto parts company’s stock after selling 4,485 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Gentherm were worth $2,071,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new stake in Gentherm in the fourth quarter worth about $3,143,000. Yousif Capital Management LLC purchased a new stake in Gentherm in the fourth quarter worth about $2,670,000. Assenagon Asset Management S.A. grew its holdings in Gentherm by 97.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 35,713 shares of the auto parts company’s stock worth $3,103,000 after purchasing an additional 17,668 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Gentherm by 35.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,130 shares of the auto parts company’s stock worth $446,000 after purchasing an additional 1,347 shares during the period. Finally, Knowledge Leaders Capital LLC purchased a new stake in Gentherm in the fourth quarter worth about $995,000. 99.08% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, SVP Thomas Stocker sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $70.06, for a total value of $175,150.00. Following the sale, the senior vice president now owns 9,410 shares in the company, valued at $659,264.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.32% of the stock is currently owned by corporate insiders.
Gentherm Trading Up 1.1 %
Gentherm (NASDAQ:THRM – Get Rating) last issued its earnings results on Tuesday, August 2nd. The auto parts company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.17). Gentherm had a return on equity of 9.13% and a net margin of 5.35%. The company had revenue of $260.70 million during the quarter, compared to analysts’ expectations of $258.79 million. During the same quarter in the prior year, the business posted $0.85 EPS. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities research analysts forecast that Gentherm Incorporated will post 2.62 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the stock. Roth Capital restated a “buy” rating on shares of Gentherm in a report on Thursday, May 5th. TheStreet cut shares of Gentherm from a “b” rating to a “c+” rating in a report on Friday, May 20th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $99.00.
Gentherm Incorporated designs, develops, manufactures, and markets thermal management technologies. The company operates in two segments, Automotive and Medical. The Automotive segment offers climate comfort systems, which include seat heaters, blowers, and thermoelectric devices for variable temperature climate control seats and steering wheel heaters that are designed to provide thermal comfort to automobile passengers; integrated electronic components, such as electronic control units that utilize proprietary electronics technology and software; and other climate comfort systems, including neck conditioners and climate control system products for door panels, armrests, cupholders, and storage bins.
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