Garrett Motion Inc. $GTX Shares Sold by Forager Capital Management LLC

Forager Capital Management LLC lowered its position in shares of Garrett Motion Inc. (NYSE:GTX) by 25.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 566,095 shares of the company’s stock after selling 190,000 shares during the quarter. Garrett Motion accounts for about 2.9% of Forager Capital Management LLC’s holdings, making the stock its 11th largest position. Forager Capital Management LLC owned approximately 0.28% of Garrett Motion worth $5,950,000 at the end of the most recent reporting period.

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

Garrett Motion Trading Up 1.8%

Shares of Garrett Motion stock opened at $16.53 on Wednesday. The firm’s 50 day moving average is $14.94 and its 200 day moving average is $12.89. The firm has a market capitalization of $3.21 billion, a PE ratio of 13.02 and a beta of 0.41. Garrett Motion Inc. has a 1 year low of $7.01 and a 1 year high of $17.91.

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

Garrett Motion Increases Dividend

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

Wall Street Analyst Weigh In

GTX has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on Garrett Motion in a research note on Monday, October 20th. They set a “hold” rating and a $14.00 price objective for the company. BWS Financial restated a “buy” rating and issued a $18.00 price objective on shares of Garrett Motion in a research report on Friday, October 24th. Zacks Research upgraded shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Finally, Stifel Nicolaus set a $20.00 price target on Garrett Motion in a research report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Garrett Motion presently has a consensus rating of “Buy” and a consensus target price of $16.50.

Insider Buying and Selling at Garrett Motion

In related news, major shareholder Cyrus Capital Partners, L.P. sold 350,566 shares of the stock in a transaction on 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 613,403 shares of company stock valued at $8,133,314 over the last quarter. Insiders own 0.83% of the company’s stock.

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.