Norges Bank Takes $2.63 Million Position in Gentherm Incorporated (NASDAQ:THRM)

Norges Bank purchased a new position in Gentherm Incorporated (NASDAQ:THRM - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 65,883 shares of the auto parts company's stock, valued at approximately $2,630,000. Norges Bank owned about 0.21% of Gentherm as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Barclays PLC boosted its holdings in Gentherm by 234.8% during the third quarter. Barclays PLC now owns 61,466 shares of the auto parts company's stock worth $2,861,000 after buying an additional 43,108 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Gentherm by 46.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 67,831 shares of the auto parts company's stock worth $3,158,000 after acquiring an additional 21,376 shares during the last quarter. Global Alpha Capital Management Ltd. grew its holdings in Gentherm by 23.8% during the fourth quarter. Global Alpha Capital Management Ltd. now owns 782,983 shares of the auto parts company's stock valued at $31,261,000 after purchasing an additional 150,310 shares during the period. Amundi grew its holdings in Gentherm by 185.5% during the fourth quarter. Amundi now owns 15,143 shares of the auto parts company's stock valued at $595,000 after purchasing an additional 9,839 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Gentherm in the fourth quarter valued at approximately $15,400,000. 97.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on THRM shares. Robert W. Baird decreased their price target on shares of Gentherm from $39.00 to $27.00 and set a "neutral" rating for the company in a report on Tuesday. JPMorgan Chase & Co. decreased their target price on Gentherm from $56.00 to $51.00 and set a "neutral" rating for the company in a research note on Monday, January 27th. Finally, StockNews.com downgraded Gentherm from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 26th.

Remove Ads

Gentherm Stock Up 0.7 %

THRM traded up $0.16 during trading on Tuesday, hitting $23.85. The company had a trading volume of 563,157 shares, compared to its average volume of 225,448. The company has a market capitalization of $734.32 million, a PE ratio of 11.52 and a beta of 1.46. The company has a quick ratio of 1.38, a current ratio of 2.01 and a debt-to-equity ratio of 0.36. Gentherm Incorporated has a one year low of $22.75 and a one year high of $56.72. The firm's 50-day moving average price is $30.66 and its 200 day moving average price is $37.51.

Gentherm (NASDAQ:THRM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The auto parts company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.39). Gentherm had a return on equity of 11.43% and a net margin of 4.46%. The firm had revenue of $352.91 million for the quarter, compared to analyst estimates of $360.29 million. During the same period in the prior year, the company earned $0.90 earnings per share. The firm's quarterly revenue was down 3.8% on a year-over-year basis. As a group, equities analysts expect that Gentherm Incorporated will post 3.1 earnings per share for the current year.

About Gentherm

Gentherm Incorporated designs, develops, manufactures, and sells thermal management and pneumatic comfort technologies in the United States and internationally. 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; and other climate comfort systems, including neck and shoulder conditioners and climate control system products for door panels, armrests, cupholders, and storage bins.