Dynamic Technology Lab Private Ltd Buys 46,100 Shares of Garrett Motion Inc. $GTX

Dynamic Technology Lab Private Ltd grew its stake in shares of Garrett Motion Inc. (NYSE:GTX) by 107.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 88,853 shares of the company’s stock after purchasing an additional 46,100 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Garrett Motion were worth $934,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in GTX. Deutsche Bank AG increased its holdings in Garrett Motion by 14.4% during the first quarter. Deutsche Bank AG now owns 9,383 shares of the company’s stock worth $79,000 after buying an additional 1,181 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Garrett Motion by 5.7% during the 2nd quarter. Bank of Montreal Can now owns 58,021 shares of the company’s stock worth $610,000 after purchasing an additional 3,106 shares during the last quarter. Amalgamated Bank bought a new stake in shares of Garrett Motion in the 2nd quarter valued at about $46,000. Janney Montgomery Scott LLC lifted its stake in Garrett Motion by 1.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 329,626 shares of the company’s stock valued at $3,464,000 after purchasing an additional 4,374 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Garrett Motion by 4,655.8% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 4,518 shares of the company’s stock valued at $47,000 after purchasing an additional 4,423 shares during the last quarter. Institutional investors and hedge funds own 86.27% of the company’s stock.

Garrett Motion Price Performance

GTX opened at $16.08 on Friday. The business has a fifty day simple moving average of $14.81 and a 200 day simple moving average of $12.80. Garrett Motion Inc. has a 1 year low of $7.01 and a 1 year high of $17.91. The company has a market capitalization of $3.13 billion, a PE ratio of 12.66 and a beta of 0.41.

Garrett Motion (NYSE:GTX) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.38 earnings per share for the quarter, topping 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 firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 EPS. Garrett Motion has set its FY 2025 guidance at EPS. Equities analysts anticipate that Garrett Motion Inc. will post 1.25 earnings per share 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. Shareholders of record on Monday, December 1st will be issued a $0.08 dividend. 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 2.0%. This is an increase from Garrett Motion’s previous quarterly dividend of $0.06. Garrett Motion’s payout ratio is presently 20.38%.

Analyst Ratings Changes

A number of brokerages have weighed in on GTX. BWS Financial reissued a “buy” rating and set a $18.00 price target on shares of Garrett Motion in a research report on Friday, October 24th. Deutsche Bank Aktiengesellschaft initiated coverage on Garrett Motion in a report on Monday, October 20th. They set a “hold” rating and a $14.00 target price on the stock. Zacks Research raised 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 objective on shares of Garrett Motion in a report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $16.50.

Insider Transactions at Garrett Motion

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 transaction, the insider owned 20,009,945 shares in the company, valued at $265,732,069.60. This represents a 1.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 613,403 shares of company stock valued at $8,133,314. Insiders own 0.83% of the company’s stock.

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.