Campbell & CO Investment Adviser LLC Takes Position in Garrett Motion Inc. $GTX

Campbell & CO Investment Adviser LLC purchased a new position in shares of Garrett Motion Inc. (NYSE:GTX) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 97,165 shares of the company’s stock, valued at approximately $1,021,000.

Several other large investors also recently bought and sold shares of GTX. Los Angeles Capital Management LLC purchased a new position in Garrett Motion in the 2nd quarter worth approximately $484,000. Fox Run Management L.L.C. acquired a new stake in shares of Garrett Motion in the second quarter valued at approximately $541,000. Bryce Point Capital LLC acquired a new stake in shares of Garrett Motion in the second quarter valued at approximately $158,000. Bank of New York Mellon Corp lifted its position in Garrett Motion by 105.2% during the second quarter. Bank of New York Mellon Corp now owns 621,961 shares of the company’s stock worth $6,537,000 after buying an additional 318,907 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Garrett Motion by 5.7% during the second quarter. Bank of Montreal Can now owns 58,021 shares of the company’s stock worth $610,000 after buying an additional 3,106 shares during the last quarter. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Wall Street Analyst Weigh In

GTX has been the subject of a number of recent research reports. BNP Paribas Exane initiated coverage on Garrett Motion in a research note on Wednesday, July 16th. They issued an “outperform” rating and a $14.00 target price for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Garrett Motion in a research report on Monday, October 20th. They set a “hold” rating and a $14.00 price objective for the company. Stifel Nicolaus set a $20.00 target price on shares of Garrett Motion in a research note on Friday, October 24th. BNP Paribas started coverage on shares of Garrett Motion in a research note on Wednesday, July 16th. They issued an “outperform” rating for the company. Finally, BWS Financial reaffirmed a “buy” rating and set a $18.00 price target on shares of Garrett Motion in a research report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $16.50.

Garrett Motion Trading Down 0.7%

GTX stock opened at $17.13 on Thursday. The business’s fifty day moving average price is $14.35 and its 200 day moving average price is $12.50. Garrett Motion Inc. has a 12-month low of $7.01 and a 12-month high of $17.91. The company has a market capitalization of $3.33 billion, a PE ratio of 13.49 and a beta of 0.41.

Garrett Motion (NYSE:GTX) last released its earnings results on Thursday, October 23rd. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.04. Garrett Motion had a negative return on equity of 38.75% and a net margin of 8.12%.The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 earnings per share. Garrett Motion has set its FY 2025 guidance at EPS. Research analysts predict that Garrett Motion Inc. will post 1.25 EPS for the current fiscal year.

Garrett Motion Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from Garrett Motion’s previous quarterly dividend of $0.06. The ex-dividend date is Monday, December 1st. Garrett Motion’s dividend payout ratio (DPR) is presently 20.38%.

Insiders Place Their Bets

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 350,566 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $13.28, for a total transaction of $4,655,516.48. Following the sale, the insider directly owned 20,009,945 shares in the company, valued at $265,732,069.60. This represents a 1.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 2,418,403 shares of company stock worth $31,739,564. 0.83% of the stock is owned by corporate insiders.

About Garrett Motion

Garrett Motion Inc, together with its subsidiaries, designs, manufactures, and sells turbocharging, air and fluid compression, and high-speed electric motor technologies for original equipment manufacturers and distributors worldwide. The company offers cutting-edge technology for the mobility and industrial space, including light vehicles, commercial vehicles, and industrial applications.