Tableaux LLC Makes New Investment in Garrett Motion Inc. $GTX

Tableaux LLC acquired a new position in shares of Garrett Motion Inc. (NYSE:GTX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 25,623 shares of the company’s stock, valued at approximately $269,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GTX. Jones Financial Companies Lllp acquired a new position in Garrett Motion during the first quarter worth $42,000. Amalgamated Bank bought a new position in shares of Garrett Motion in the 2nd quarter valued at about $46,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Garrett Motion by 4,655.8% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 4,518 shares of the company’s stock worth $47,000 after purchasing an additional 4,423 shares during the last quarter. Vestcor Inc bought a new stake in shares of Garrett Motion in the 1st quarter valued at about $61,000. Finally, Deutsche Bank AG raised its holdings in shares of Garrett Motion by 14.4% in the 1st quarter. Deutsche Bank AG now owns 9,383 shares of the company’s stock valued at $79,000 after purchasing an additional 1,181 shares during the period. 86.27% of the stock is owned by institutional investors.

Insider Activity

In related news, major shareholder Cyrus Capital Partners, L.P. sold 350,566 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $13.28, for a total value of $4,655,516.48. Following the transaction, the insider directly owned 20,009,945 shares in the company, valued at approximately $265,732,069.60. This represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 613,403 shares of company stock valued at $8,133,314 over the last three months. Insiders own 0.83% of the company’s stock.

Garrett Motion Stock Up 2.8%

Shares of GTX stock opened at $16.08 on Friday. 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 $3.13 billion, a PE ratio of 12.66 and a beta of 0.41. The firm has a 50 day moving average price of $14.81 and a two-hundred day moving average price of $12.80.

Garrett Motion (NYSE:GTX) last announced 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 negative return on equity of 38.75% and a net margin of 8.12%.The business’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 EPS. Garrett Motion has set its FY 2025 guidance at EPS. As a group, research analysts expect that Garrett Motion Inc. will post 1.25 EPS for the current year.

Garrett Motion Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.08 per share. This is an increase from Garrett Motion’s previous quarterly dividend of $0.06. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, December 1st. Garrett Motion’s payout ratio is 20.38%.

Analyst Ratings Changes

A number of equities analysts recently commented on GTX shares. BWS Financial reiterated a “buy” rating and set a $18.00 price target on shares of Garrett Motion in a report on Friday, October 24th. Deutsche Bank Aktiengesellschaft started coverage on Garrett Motion in a research note on Monday, October 20th. They set a “hold” rating and a $14.00 target price for the company. Stifel Nicolaus set a $20.00 price target on Garrett Motion in a research note on Friday, October 24th. Finally, Zacks Research raised Garrett Motion from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Garrett Motion has an average rating of “Buy” and an average target price of $16.50.

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.