Garrett Motion Inc. $GTX Stake Cut by Seizert Capital Partners LLC

Seizert Capital Partners LLC cut its holdings in shares of Garrett Motion Inc. (NYSE:GTX) by 19.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 516,376 shares of the company’s stock after selling 126,083 shares during the quarter. Seizert Capital Partners LLC’s holdings in Garrett Motion were worth $5,427,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Garrett Motion by 2.8% during the first quarter. Vanguard Group Inc. now owns 2,304,014 shares of the company’s stock valued at $19,285,000 after purchasing an additional 62,844 shares in the last quarter. 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 worth $10,802,000 after acquiring an additional 54,978 shares during the last quarter. OMERS ADMINISTRATION Corp raised its holdings 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 in the last quarter. Maverick Capital Ltd. boosted its position in Garrett Motion by 113.6% during the first quarter. Maverick Capital Ltd. now owns 65,716 shares of the company’s stock valued at $550,000 after purchasing an additional 34,944 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Garrett Motion by 138.0% during the first quarter. Invesco Ltd. now owns 162,991 shares of the company’s stock valued at $1,364,000 after purchasing an additional 94,501 shares during the last quarter. 86.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Garrett Motion

In other news, major shareholder Cyrus Capital Partners, L.P. sold 350,566 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $13.28, for a total value of $4,655,516.48. Following the sale, the insider directly owned 20,009,945 shares of the company’s stock, valued at approximately $265,732,069.60. This trade represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 1,113,403 shares of company stock worth $14,773,314 in the last three months. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Garrett Motion Stock Performance

GTX opened at $16.63 on Wednesday. The firm has a market cap of $3.23 billion, a P/E ratio of 13.09 and a beta of 0.41. The business has a 50 day moving average price of $14.64 and a 200 day moving average price of $12.72. Garrett Motion Inc. has a twelve month low of $7.01 and a twelve month high of $17.91.

Garrett Motion (NYSE:GTX) last released its quarterly earnings results on Thursday, October 23rd. The company reported $0.38 EPS for the quarter, beating 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 business earned $0.24 EPS. The business’s revenue was up 9.2% on a year-over-year basis. Garrett Motion has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Garrett Motion Inc. will post 1.25 earnings per share for the current fiscal year.

Garrett Motion Increases Dividend

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

Garrett Motion Company Profile

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.