D Orazio & Associates Inc. Takes Position in Garrett Motion Inc. $GTX

D Orazio & Associates Inc. purchased a new position in shares of Garrett Motion Inc. (NYSE:GTX) during the second quarter, HoldingsChannel reports. The firm purchased 14,086 shares of the company’s stock, valued at approximately $148,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Garrett Motion by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 2,304,014 shares of the company’s stock worth $19,285,000 after buying an additional 62,844 shares during the period. Victory Capital Management Inc. increased its stake in shares of Garrett Motion by 4.4% in the first quarter. Victory Capital Management Inc. now owns 1,290,509 shares of the company’s stock valued at $10,802,000 after buying an additional 54,978 shares during the period. OMERS ADMINISTRATION Corp raised its position in shares of Garrett Motion by 296.5% during the first quarter. OMERS ADMINISTRATION Corp now owns 253,150 shares of the company’s stock worth $2,119,000 after acquiring an additional 189,300 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Garrett Motion by 138.0% in the first quarter. Invesco Ltd. now owns 162,991 shares of the company’s stock worth $1,364,000 after acquiring an additional 94,501 shares during the period. Finally, Maverick Capital Ltd. boosted its holdings in Garrett Motion by 113.6% in the first quarter. Maverick Capital Ltd. now owns 65,716 shares of the company’s stock valued at $550,000 after acquiring an additional 34,944 shares during the last quarter. 86.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 1,300,000 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $13.00, for a total transaction of $16,900,000.00. Following the completion of the transaction, the insider owned 21,128,348 shares in the company, valued at $274,668,524. This trade represents a 5.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 2,418,403 shares of company stock worth $31,739,564. 0.83% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on GTX. Deutsche Bank Aktiengesellschaft started coverage on shares of Garrett Motion in a report on Monday, October 20th. They set a “hold” rating and a $14.00 price target for the company. BWS Financial reissued a “buy” rating and set a $18.00 target price on shares of Garrett Motion in a research note on Friday, October 24th. Zacks Research upgraded shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Stifel Nicolaus set a $20.00 price target on Garrett Motion in a 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. Based on data from MarketBeat.com, Garrett Motion has an average rating of “Buy” and a consensus price target of $16.50.

Garrett Motion Price Performance

Shares of Garrett Motion stock opened at $17.07 on Friday. Garrett Motion Inc. has a one year low of $7.01 and a one year high of $17.91. The business has a 50-day simple moving average of $14.43 and a 200 day simple moving average of $12.54. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 13.44 and a beta of 0.41.

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

Garrett Motion Increases Dividend

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

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.