Allspring Global Investments Holdings LLC Sells 10,407 Shares of Gentherm Incorporated (NASDAQ:THRM)

Allspring Global Investments Holdings LLC lowered its stake in Gentherm Incorporated (NASDAQ:THRM) by 4.0% in the third quarter, Holdings Channel reports. The fund owned 251,696 shares of the auto parts company’s stock after selling 10,407 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Gentherm were worth $11,716,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Gentherm by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 3,651,904 shares of the auto parts company’s stock valued at $191,214,000 after purchasing an additional 16,513 shares during the last quarter. Van Berkom & Associates Inc. lifted its stake in shares of Gentherm by 1.5% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,364,291 shares of the auto parts company’s stock valued at $67,287,000 after acquiring an additional 20,371 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in shares of Gentherm by 0.7% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,146,620 shares of the auto parts company’s stock valued at $56,551,000 after acquiring an additional 8,049 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Gentherm by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,146,375 shares of the auto parts company’s stock worth $56,539,000 after acquiring an additional 37,365 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Gentherm by 1.1% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 951,798 shares of the auto parts company’s stock worth $46,943,000 after purchasing an additional 10,402 shares in the last quarter. 97.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. upgraded Gentherm from an “underweight” rating to a “neutral” rating and set a $56.00 price target on the stock in a report on Monday, October 21st. Robert W. Baird reduced their target price on shares of Gentherm from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Finally, StockNews.com raised shares of Gentherm from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $62.00.

Insider Activity at Gentherm

In other Gentherm news, CEO Phillip Eyler sold 4,402 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $50.20, for a total transaction of $220,980.40. Following the completion of the sale, the chief executive officer now directly owns 147,317 shares in the company, valued at approximately $7,395,313.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.91% of the stock is owned by company insiders.

Gentherm Price Performance

Shares of THRM opened at $40.38 on Friday. The business has a 50-day moving average of $46.06 and a 200-day moving average of $49.28. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.11 and a quick ratio of 1.46. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 27.66 and a beta of 1.43. Gentherm Incorporated has a 1 year low of $38.21 and a 1 year high of $62.93.

Gentherm (NASDAQ:THRM) last released its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.04. Gentherm had a net margin of 4.61% and a return on equity of 14.03%. The firm had revenue of $375.70 million during the quarter, compared to analyst estimates of $375.82 million. During the same quarter last year, the business earned $0.58 EPS. The company’s revenue was up .9% compared to the same quarter last year. As a group, equities research analysts anticipate that Gentherm Incorporated will post 2.81 earnings per share for the current year.

Gentherm Company Profile

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.